A 28-unit heavy value-add opportunity located in the highly sought-after Stadium district of Tacoma.

Kidder Mathew is pleased to have the exclusive listing for The Ambassador Apartments - a one-of-a-kind, trophy asset located in the heart of Tacoma.

Built in 1925 and offered for sale for the first time in over 50 years, The Ambassador Apartments represent quintessential Tacoma roots and have been a flagship asset in the area since its construction nearly 100 years ago. A five-story 28-unit community holding a mix of studio, 1-bedroom, and 2-bedroom homes, the Ambassador offers new ownership a truly unique investment opportunity with tremendous untapped income potential. Periodically updated with new flooring, appliances, and fixtures – all 28 units can support a massive cosmetic remodel. Primed for modern upgrades, the Ambassador could achieve rental increases of over 50% of in-place income. Current rents average $1,100 per unit with limited utility recapture and additional fees being implemented.

Residents of the Ambassador enjoy water views, unrivaled walkability to neighboring retail and grocery, and excellent freeway access near the corner of Stadium Way and Division Ave. With historic occupancy near 98%, this flagship asset will continue to benefit from its Class A location, walkability, and proximity to local transit.

We invite you to review the offering memorandum for The Ambassador Apartments. Please contact Austin Kelley and Ted Sipila to schedule a tour.

OFFER REQUIREMENT

The purchaser of The Ambassador Apartments is responsible for presenting sellers with proposed terms and conditions for the transfer of ownership. All offers must be submitted to listing brokers and must include the following terms and information.

• Purchase Price
• Earnest money deposit, including non-refundable portion and timing of deposits
• Timing for due diligence and post diligence closing period.
• Source of funds for acquisition