Paragon Real Estate Advisors is pleased to exclusively offer for sale the Stadium Portfolio. This offering consists of 3 classic brick buildings located in the desirable Stadium District neighborhood of Tacoma, Washington.
The three buildings offered are the Parkside, Kensington and Lauriston Apartments consisting of 91 units total. These assets have been well maintained with systems and exterior updates through the years and are poised for a value-add reposition. In the late 80’s the Kensington and Lauriston buildings underwent a major renovation including updating all plumbing, electrical and windows. Additionally in 2005 the buildings received further capital investment in the kitchens and baths. The Parkside has had a similar history with updated electrical, plumbing and windows. All buildings have had their one time main boiler decommissioned and the entirety of the exterior acid washed and tuckpointed where necessary.
The Stadium Portfolio offer the savvy investor a perfect add-value opportunity with significant upside in a market that has seen tremendous growth.
Incorporated in 1875, Tacoma is the second-largest city in the Puget Sound, and the third largest in the State of Washington, located just 30 miles south of Seattle. Tacoma is the main hub of business activity for the South Puget Sound and is anchored by major employers, such as State Farm Insurance, TrueBlue, DaVita, Multicare Health System, Franciscan Health System and Columbia Bank. It is also home to an eclectic mix of small and local independent businesses clustered throughout the downtown and residential neighborhoods.
The Stadium District is the most sought after area of Tacoma for young professionals. Everything you need is within walking distance; restaurants, bars, salons, grocery stores, pet stores, etc. Tacoma will continue to grow over the years to come. It is home to Pacific Lutheran University, University of Washington, Tacoma Dome Area, The Tacoma Art Museum, and The Museum of Glass. Rhein Haus and Mud Bay have recently set up shop right next to Stadium Thriftway.