$21,500,000
 $115,417 est/mo Sourced by Back At You

301 E 26th,Tacoma, WA 98421

Tacoma, WA 98421

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Description

Joint Venture Development Opportunity. Mount Bay Apartments is a permit-ready, fully bid, and shovel-ready 307-unit workforce housing development in the heart of Tacoma’s Transportation District. One block from Tacoma Link Light Rail, Sounder, Amtrak, and Greyhound, the project delivers unmatched regional connectivity to downtown Tacoma, Seattle, and Portlanddriving strong demand, high occupancy, and long-term value. Designed for working professionals and essential workforce residents, the community features two landscaped courtyards, convenience retail, below-grade parking, a welcoming lobby, fitness center, shared workspace, and a seventh-floor indoor/outdoor sky lounge. The project is fully aligned with Tacoma’s urban revitalization vision while addressing a critical housing need. Mount Bay Apartments offers a compelling, defensive multifamily investment with predictable cash flow, downside protection, and meaningful upside. Workforce housing has consistently outperformed luxury assets across market cycles, delivering stable occupancy even in economic downturns. An eight-year property tax abatement enhances early-year cash flow and improves overall returns, while long-term appreciation is supported by sustained infrastructure investment and neighborhood transformation. This is an exceptional opportunity to partner in a transit-oriented, tax-advantaged asset positioned to generate reliable income and lasting value in one of Tacoma’s fastest-growing urban corridors.

Details

MLS #2468328
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year2026
Days On Site232
Listing Provided ByCrestview Realty Advisors | Chuck Walle

Features

SQ Feet246,080
Garage95
Story(s)7
Units6
ZoningCommercial
Acreage0.90
Property ViewYes

Area Information

StateWA
CountyPierce
CityTacoma
Zip Code98421
Area30 Central Tacoma
Community NameTacoma
Listing VS Median (in Tacoma)
Price:
$21,500,000
low | high
Med:
$494,978
100% of Average
sqft:
246,080
low | high
Med:
1,529
100% of Average
$ / sqft:
$87
low | high
Med:
$324
100% of Average
On site:
232
low | high
Med:
90.5
100% of Average
Sourced by Back At You

Market Activity 98421

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Learn More About This Property

StateWA
CountyPierce
CityTacoma
Zip Code98421
Area30 Central Tacoma
Community NameTacoma
Listing VS Median (in Tacoma)
Price:
$21,500,000
low | high
Med:
$494,978
100% of Average
sqft:
246,080
low | high
Med:
1,529
100% of Average
$ / sqft:
$87
low | high
Med:
$324
100% of Average
On site:
232
low | high
Med:
90.5
100% of Average
Sourced by Back At You
Listing Updated: July 16, 2026 at 10:09:24 AM PDT