Marcus & Millichap Brokers $24M Tacoma Apartment Sale

Marcus & Millichap has brokered the sale of Tanara Villa, a 130-unit multifamily property in Tacoma, WA. The community traded for just over $24 million, or $185,769 per unit. The asset was operated as a senior housing complex, but the new buyer, an undisclosed limited liability company, can convert it to a market-rate property.

“On the market for the first time in 42 years, Tanara Villa is a significant value-add asset,” said Marcus & Millichap’s Kellan Moll, who represented the private investor seller and procured the buyer, along with the firm’s Scott Morasch. “We generated 12 offers and exceeded our client’s financial goals.”

The 5-building community, situated on 4 acres near Interstate 5 and the Westgate North Shopping Center, is comprised of one-bedroom/one-bath units averaging just over 500-square-feet. Community amenities include four laundry rooms, a recreation room and a dog park.