Vista Rainier — Sale in Tacoma, WA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Tacoma, WA 98409

Investment Figures

Cap rate
5.45%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Built in 1968, Vista Rainier is a fifty-unit community located in the Hilltop neighborhood of Tacoma. Stone’s throw from the I-5, and just one mile from the Hilltop Light Rail Station make Vista Rainier a perfectly situated property in a location driven by stable economic drivers and transportation for commuters. From a tenant’s perspective, spacious one- and two- bedroom units combined with ample on-site parking make Vista Rainier an excellent place to call home. Vista Rainier consists of forty two-bedroom, one-bathroom units averaging ?848 square feet, and four one-bedroom, one-bathroom units averaging ?750 square feet, five studios averaging ?430 square feet, and one three-bedroom, one-bathroom unit of approximately 1,000 square feet. Each unit features a kitchen and living room separate from the large kitchen. At a purchase price of $8,250,000, Vista Rainier offers great value to a buyer at $165,000 per unit, $206 per foot, with ability for significant rental upside. An incoming investor to undergo renovations to increase rents and easily achieve a 7% annual return. Investment Highlights: • Excellent Location: Proximity to major arterials such as I-5 as well as Hilltop Light Rail Station • Excellent Historical Occupancy: Owners have been able to maintain below 5% vacancy rate • Rental Upside: Rents have 35% rental upside

Market Context

This multifamily in Tacoma, WA is listed for sale. It is offered at an approximate 5.5% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 100 days. Compare it against other multifamily listings for sale in Tacoma, WA — view the full market.

As of Q1 2026, the Seattle / Bellevue multifamily market showed a 7.3% vacancy rate, and cap rates around 5.5%. Source: multiple brokerage reports, Q1 2026.

Its 5.5% asking cap rate is in line with the Seattle / Bellevue multifamily market average of about 5.5%.

Multifamily market FAQ

What is the typical cap rate for multifamily in Seattle / Bellevue?
About 5.5% as of Q1 2026, per multiple brokerage reports.
Is the Seattle / Bellevue multifamily market tightening or softening?
Vacancy is around 7.3% (Q1 2026).

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