This unique opportunity allows a new investor to acquire an irreplaceable and charming 5-unit asset in North Tacoma's desirable Proctor District, with the advantage of seller secondary financing at two percent interest-only payments for qualified buyers. Currently, the average rent at Proctor Manor is $757 per unit. With market comparables supporting an average rent of $1,372 per unit, a new investor can capture over 81% rental upside during the proposed three-year holding period. Tenants are not being billed back for water, sewer, and garbage. A new owner can capture additional income by implementing a ratio utility billing system (RUBS) for water, sewer, and garbage.
Current Location
