Follow the link below to access the full Offering Memorandum and all deal documents.
Pacific Ridge Development is an 80 unit development site located at 8445 Pacific Avenue, Tacoma, WA. This offering provides buyers the opportunity to purchase the property free and clear of existing debt. This offering is priced at $2,000,000.
80-UNIT DEVELOPMENT SITE sitting on 1.85 acres of flat developable land
SITE NEARLY SHOVEL READY with building permits approved for all structures (Residential buildings 1, 2, 3, Amenity building and Carriage House A)
SEVERELY UNDER-SERVED renters market in growing location. With prior new construction being delivered in 2014 (Garfield Station Apartments – 50-unit Min.), South East Tacoma is ripe for new construction
CENTRALLY LOCATED at 84th and Pacific Avenue, Pacific Ridge holds proximity to nearby transit stop, grocery, schools and local jobs.
South East Tacoma offers renters an affordable escape from Tacoma rapidly growing CBD district without sacrificing proximity to all jobs and amenities Downtown Tacoma has to offer.
Pacific Ridge sits right near the corner of 84th and Pacific, located just off local commuter transit line. Rental rates in SE Tacoma have steadily increased, with supply of additional unit extremely slow to follow. Pacific Ridge’s location offers the opportunity to live in a brand new amenity rich community at a relatively affordable rate. Proximity to Tacoma current light rail and 6-spot expansion (2022), SE Tacoma is well positioned for greater economic growth.
Population (3 Mile Radius)
Average Household Income (1 Mile Radius)
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Kidder Mathews is the exclusive Listing Brokerage for this Offering. Austin Kelley, Dylan Simon, and Jerrid Anderson are exclusively representing the Seller in the sale of the Pacific Ridge Development.