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Cassidy Thomas

cassidy@1realty.com +1(360) 739-4784

Listed by:Crestview Realty Advisors • Chuck Walle

$21,500,000

Est. payment - /mo

308 Beds

6 Baths

246,080 SqFt

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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 246,080 sqft

Price per Sqft $87

Subdivision Tacoma

MLS Listing ID 2468328

Style 56 - 10+ Units

Bedrooms 308

Construction Status Presale

Year Built 2026

Lot Size 0.900 Acres

Lot Dimensions 129 x 299

Property Sub-Type Multi Family

Property Description

Joint Venture Development Opportunity. Mount Bay Apartments is a permit-ready, fully bid, and shovel-ready 307-unit workforce housing development in the heart of Tacoma's Transportation District. One block from Tacoma Link Light Rail, Sounder, Amtrak, and Greyhound, the project delivers unmatched regional connectivity to downtown Tacoma, Seattle, and Portland—driving strong demand, high occupancy, and long-term value. Designed for working professionals and essential workforce residents, the community features two landscaped courtyards, convenience retail, below-grade parking, a welcoming lobby, fitness center, shared workspace, and a seventh-floor indoor/outdoor sky lounge. The project is fully aligned with Tacoma's urban revitalization vision while addressing a critical housing need. Mount Bay Apartments offers a compelling, defensive multifamily investment with predictable cash flow, downside protection, and meaningful upside. Workforce housing has consistently outperformed luxury assets across market cycles, delivering stable occupancy even in economic downturns. An eight-year property tax abatement enhances early-year cash flow and improves overall returns, while long-term appreciation is supported by sustained infrastructure investment and neighborhood transformation. This is an exceptional opportunity to partner in a transit-oriented, tax-advantaged asset positioned to generate reliable income and lasting value in one of Tacoma's fastest-growing urban corridors.

Location

State WA

County Pierce

Area 30 - Central Tacoma

Interior

Flooring Ceramic Tile, Concrete, Laminate, Vinyl Plank, Carpet

Fireplace false

Exterior

Exterior Feature Cement/Concrete, Cement Planked, Metal/Vinyl, Wood Products

Garage Spaces 95.0

Amenities Available Cable TV, Deck, Electric Car Charging, Gas Available, Gated Entry, High Speed Internet, Outdoor Fireplace, Patio, Sprinkler System

View Y/N Yes

View Bay, City, Mountain(s), Territorial

Roof Type Flat

Building

Lot Description Alley, Corner Lot, Curbs, Paved, Sidewalk

Sewer Available

Water Public

New Construction Yes

Construction Status Presale

Schools

School District Tacoma

Others

Senior Community No

Acceptable Financing See Remarks

Listing Terms See Remarks

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Cassidy Thomas

+1(360) 739-4784

Agent | License ID: 132279

Agent License ID: 132279

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301 E 26th Tacoma, WA 98421

Cassidy Thomas

Key Details

Location

Interior

Exterior

Building

Schools

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