8726-8736 S Hosmer St
Tacoma, WA 98444
Indigo Apartments · Multifamily Property For Sale · 91 Units

Discover the Indigo Apartments - an exceptional turnkey property located at 8726 – 8736 S Hosmer St, Tacoma, WA 98444. Recently renovated in 2024, this 91-unit property offers high-quality finishes and a compelling value proposition for investors. Featuring vinyl plank flooring, custom cabinetry, stainless steel appliances, and quartz countertops in all units, this property is priced below replacement cost, presenting a prime investment opportunity. With amenities such as on-site laundry facilities, a clubhouse, and ample parking, Indigo Apartments provide additional income streams. Situated in Tacoma, a growing market with steady housing demand and close proximity to key attractions, this property offers a strategic advantage for investors. The Tacoma market, offering a lower cost of living compared to Seattle, is projected to experience continued growth, making this property an attractive choice for investors seeking a vibrant urban living experience and long-term value.
Turnkey Asset Priced Below Replacement Cost: This garden-style property, originally built in 1983, underwent meticulous renovations in 2024, transforming it into a new multifamily community with high-quality interior finishes and abundant community amenities.
Compelling Pricing: Indigo offers a strong value proposition with significant rent growth potential; market rents are projected to increase 12% over current rates.
Significant Capital Improvements: Ownership invested over $3 million in capital improvements, remodeling all unit interiors; enhancements include restriping and resealing the parking lot, a complete remodel of the clubhouse and business office, upgrading electrical and plumbing systems, installing new gas boilers, and enhancing fire protection measures.
High-End Amenities Offer Competitive Advantage: Spanning nearly three acres, this low-density property boasts highly attractive community amenities, such as a clubhouse with a coffee bar and entertainment center, leasing office, fitness center, gated entryway, and community laundry facilities; luxury apartment features include air conditioning, energy-efficient, stainless-steel appliances, private patios, wood-style flooring, and modern lighting and fixtures.
Ideal Unit Mix with Tremendous Upside: The property consists of 73 studios, 17 one-bedroom units, and a large two-bedroom unit, offering high rents per square foot and the opportunity to increase net operating income by 8.7% with minimal expense adjustments and by aligning rents with market rates.
Prime Location: Tacoma provides a robust rental market and exceptional quality of life, supported by a diverse economy in healthcare, education, trade and transportation, and military defense; located just off Interstate 5, Indigo offers easy connectivity to employment hubs, outdoor activities, Lakewood Towne Center, and school systems.
Bus and Light Rail Service: Indigo is an eight-minute drive from Hilltop Station, less than six miles from the St. Joseph Light Rail station, and 0.1 miles from Bus Line 55, which services Parkland, Lakewood, and Downtown Tacoma.