8702 -8716 S Hosmer Street, Tacoma, WA 98444
- $11,510,000
- 44,467
- SqFt
Listing courtesy of Westlake Associates, Inc.. Selling Office: ZNonMember-Office-MLS.
- Sold Price
- $11,510,000
- List Price
- $14,200,000
- Status
- SOLD
- MLS#
- 1981716
- Closing Date
- Mar 03, 2023
- Days on Market
- 27
- Style
- 56 - 10+ Units
- Finished SqFt
- 44,467
- Area Total SqFt
- 44467
- Lot Size (sq ft)
- 138,956
- Sewer
- Sewer Connected
Property Description
The American Lodge presents investors with a rare opportunity to convert a 142-room motel into a market-rate multifamily property. The potential unit types consist of (71) 210 sqft & (71) 280 sqft studios. The current owner is in the process of getting permits for the change of use. American Lodge was constructed in 1978 featuring classic “walk up” style construction with exterior corridor unit access. The buildings have recently undergone a major exterior renovation which includes brand new roofs on the buildings & exterior paint job. Electrical system have been upgraded to add small kitchens/kitchenettes in all the rooms. With current lack of affordable housing supply, this property is positioned to benefit from conversion to multifamily.
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Additional Information
- List Date
- 2023-02-04 00:00:00
- Community
- South Tacoma
- Total Number of Units
- 2
- Unit Name
- 8702 -8716
- Potential Terms
- Cash Out
- Year Built
- 1978
- Roof
- Composition
- Energy Source
- Electric
- School District
- Tacoma
- Tax Year
- 2022
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