Heather Court is a well-maintained, value-add investment opportunity offering strong growth potential and reliable returns. This 32-unit property, built in 1971 and renovated in 2017, blends modern upgrades with classic charm, featuring spacious one- and two-bedroom apartments averaging 675 SF. Recent improvements, including a new roof, updated exterior, and interior enhancements like hardwood floors and refreshed cabinetry, attract high-quality tenants and support rental income growth. With light upgrades, rents can be increased by 6.5%, achieving a projected 6.1% cap rate. Ideally located in Parkland, near major employers like Joint Base Lew-McChord, Boeing, and UW Tacoma, Heather Court benefits from strong rental demand.
Listing Provided Courtesy of Coleton Pantley, COMPASS
General Information
NWM2335254
Multi-Family
116
DOM
0.48 acres
21600
1971
Pierce
Residential Incom
Multi-Family
Buyer's Agent Commission
The seller is offering 2% of the final sale price of this home to the brokerage or agent representing the buyer. This offer is valid only for participants of the MLS associated with this listing. Learn more.
2%
Listing Provided Courtesy of Coleton Pantley, COMPASS
Krishna Realty data last checked: Jun 17, 2025 12:13 | Listing last modified Feb 22, 2025 05:03,
Source:
Heather Court is a well-maintained, value-add investment opportunity offering strong growth potential and reliable returns. This 32-unit property, built in 1971 and renovated in 2017, blends modern upgrades with classic charm, featuring spacious one- and two-bedroom apartments averaging 675 SF. Recent improvements, including a new roof, updated exterior, and interior enhancements like hardwood floors and refreshed cabinetry, attract high-quality tenants and support rental income growth. With light upgrades, rents can be increased by 6.5%, achieving a projected 6.1% cap rate. Ideally located in Parkland, near major employers like Joint Base Lew-McChord, Boeing, and UW Tacoma, Heather Court benefits from strong rental demand.
