9-Unit Apartment Building
This recently remodeled 9-unit apartment building in Tacoma, Washington offers updated interiors, modern systems, and stabilized rental potential within a residential neighborhood of the South Sound. 1892 Capital Partners provided bridge financing to support lease-up and prepare the asset for conversion to permanent debt.
Located in a residential Tacoma neighborhood, this renovated 9-unit apartment building offers a turnkey opportunity for long-term multifamily performance. The property features updated interiors, refreshed exterior improvements, and modernized building systems designed to support strong tenant demand in a submarket known for its affordability and accessibility.
1892 Capital Partners funded a bridge loan to support the borrower through the stabilization phase, allowing time to complete lease-up, optimize cash flow, and transition the property into permanent financing. With thoughtful updates already in place, the asset is well-positioned for durable income and future appreciation. Our familiarity with the Tacoma market and experience underwriting value-add multifamily properties enabled an efficient approval and closing process.
Project Details
We recently funded a bridge loan secured by a 9-unit apartment building in Tacoma, Washington. The property was recently remodeled, and the bridge financing provides time for the borrower to stabilize occupancy before converting to permanent debt.
Deal Terms:
• Loan Amount: $1,185,752
• Term: 12 months
• LTV: 65%
