The Granada is a four-story apartment building centrally located in downtown Tacoma
that is also a designated Opportunity Zone. It's brick exterior and old world charm
accentuates the early 20th-century architecture displayed in similar buildings throughout
the Tacoma area.
The building offers a mix of one-bedroom and studio units that have all been recently
renovated. The renovations for the exterior and common area include new windows, new
exterior, and common area paint, new secure entry doors, new common area flooring,
and new roof. The unit renovations include new counter tops, new cabinetry, stainless
steel appliances, upgraded lighting and fixtures, new paint, new flooring, new doors,
new 4” base trim, and new hardware.
The Granada offers investors a turn-key asset in one of the top rent growth markets in
the country. An investor can capitalize on increasing value by converting the office
back to a 33rd unit, and creating additional amenities such as storage lockers or bike
storage and capturing the continued aggressive rent growth in the market.
