BlackRock buys 130-unit apartment building for $24.2 million

By Catherine Sweeney

Over the past few months, Tacoma has seen a significant number of multi-family transactions. Most recently, a 130-apartment building in the northwest part of town was purchased by BlackRock for $24.2 million, or about $186,154 per square foot. The property was sold by an entity affiliated with Yuksel Inc. and Maimei Keremujiang of Kent, according to public records filed with Pierce County.

The building, also known as Tanara Villa Apartments, is located at 6322 N. 26th Street. Built in 1969, the two-story building is intended for people 55 and older.

The property offers a mix of unit types, with rents ranging from $1,125 to $1,325 per month. The seniors’ apartment community also has a variety of amenities for tenants, including community gathering places, a dog park, and walking areas.

A number of retail outlets including Safeway and Rite Aid are also close to the property. Additionally, the property is a short drive to Point Defiance Park and Beach.

Overall, Tacoma has seen many multi-family properties change hands in recent quarters. According to previous Registry reports, in one such sale recorded on August 3, a 111-apartment building in Tacoma was purchased by an entity affiliated with Tacoma Apts. LLC for $46.2 million, or approximately $416,216 per unit. The property is located at 3118 6th Avenue and was sold by Tacoma-based Affinity Real Estate Management.

Earlier in June, Goodman Real Estate sold Coventry Court IV Apartments, a building with 100 apartments. The building is located at 908 76th Street Court East and sold for $21.15 million, or about $211,500 per square foot.

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