Meadowbrook Apartments 7515 146th St SW

Meadowbrook Apartments is a 48-unit property built in 1978. The unit mix consists of 36 one-bedroom and 12 two-bedroom units averaging 783 square feet. On-site services include a rental office, 24-hour emergency maintenance, and a laundry facility. The units were recently updated with hardwood floors, carpets and paint.
The property consists of two adjacent tax parcels totaling nine acres. Proposals to expand Meadowbrook show that it can support up to 66 additional multifamily units and 87 parking spaces. Less capital intensive opportunities for the excess land include adding self-storage or RV Parking on the excess land. The property also lies within an Opportunity Zone thus providing an incentive to develop the property.
Meadowbrook Apartments is located across the street from a new Amazon Distribution Center. Access to Interstate 5 is less than a mile from the property and the Madigan Gate entrance to Joint Base Lewis McChord (JBLM) is less than 2 miles from the property. A bus stop for the 206 line is located across the street connecting the property to Madigan Army Medical Center and JBLM.
Lakewood, Washington is a city in Pierce County of nearly 65,000 people. The city sits in the south end of Puget Sound and is approximately 40 miles from Seattle. JBLM is the primary employer in Lakewood with more than 45,000 service members and civilian workers. Consequently the base does not have sufficient housing for all of its soldiers, airmen, and civilian contractors. Meadowbrook Apartments is thus well positioned to capture a pool of renters seeking off base housing.