2402 S 66th St
Tacoma, WA 98409
Sound Christian Dormitory · Multifamily Property For Sale · 30 Units

This 2.38-acre site in Tacoma’s growing residential corridor offers a rare chance to deliver multifamily or townhouse housing with significant cost advantages. Anchored by a 15,969 SF former dormitory and a 4,032 SF office building, the property provides developers with a substantial head start on construction and entitlement. The dormitory’s existing layout is well-suited for conversion into micro-units, student housing, or workforce apartments, while the office structure can be adapted for leasing offices, community amenities, or additional residential space.
Deferred maintenance presents a strategic opportunity for value-add investors. Rehabilitation of existing structures allows for faster delivery and lower total costs compared to ground-up development. The site’s flexible layout supports phased redevelopment, enabling rehab of the dormitory while planning additional units or townhomes on underutilized land.
Located near employment centers, schools, shopping, and transit, the property benefits from strong market fundamentals. Tacoma’s housing demand continues to outpace supply, particularly for affordable rental and ownership options. With population growth projected to remain steady in Pierce County, this site is well-positioned to meet the needs of a diverse tenant base.
For developers seeking a lower basis entry into a high-demand market, 2402 S 66th Street offers a compelling platform for cost-effective housing delivery. The combination of existing infrastructure, redevelopment flexibility, and location appeal makes this a standout opportunity in Tacoma’s multifamily landscape.