8702-8716 South Hosmer Street

Tacoma, WA 98444

$11,510,000
Last Sold Price
Beds
2
Baths
44,467 Sq. Ft.
$259 / Sq. Ft.
44,467
Sq. Ft.
$259
per Sq. Ft.

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...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.
  1. Listed by Louis Voorhees • Westlake Associates, Inc.
  2. Listed by River Voorhees • Westlake Associates, Inc.

Property Details for 8702-8716 South Hosmer Street

Community Name
South Tacoma
School District
Tacoma
Number of Assigned Spaces
200
Total Covered Parking
0
Entry Date
08-10-2022
Energy Source
Electric
Sewer
Sewer Connected

Location

Listing Courtesy of Westlake Associates, Inc.

Sold By ZNonMember-Office-MLS

Add your commute
LISTING UPDATED: 03/06/2023 10:17 AM

Property Details for 8702-8716 South Hosmer Street

StatusSold
MLS #1981716
Days on Market27
Cumulative Days on Market408
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1978
Lot Size3.19 AC / 138,956 SF
CountyPierce County

Location

Listing Courtesy of Westlake Associates, Inc.

Sold By ZNonMember-Office-MLS

Add your commute

Building Information for 8702-8716 South Hosmer Street

Stories2Residences2Year Built1978Building Size-Lot Size3.19 AC / 138,956 SF

Payment Calculator

$62,815 per month

30 year fixed, 7.25% Interest

Principal and Interest

$62,815

Property Taxes

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 8702-8716 South Hosmer Street

Summary
Location and General Information
  • Style: 56 - 10+ Units
  • Area: 53 - South Tacoma
  • Directions: On I-5 S from Seattle - take exit 129 and turn left onto S 84th St. Turn right at 1st cross street onto S Hosmer St. Property will be on the right.
  • Leased Items: None
  • Property Sub Type: MULT
  • View: No
  • Waterfront: No
Taxes and HOA Information
  • Tax Year: 2022
  • Additional Tax Ids: 0320315025,0320315026,0320315029
Parking
  • Number of Carport Spaces: 0.0
  • Carport: No
  • Open Parking Spaces: 200.0
  • Open Parking: Yes
Interior and Exterior Features
Interior Features
  • Furnished: Unfurnished
  • Cooling: Yes
  • Fireplace: No
  • Heating: Yes
Exterior Features
  • Exterior: Wood, Wood Products
  • Roof: Composition
Property
Utilities
  • Water/Sewer/Garbage: 0
  • Power Production Type: Electric
Property and Assessments
  • New Construction YN: No
  • Zoning Jurisdiction: City
  • Foundation: Poured Concrete
  • Zoning Class: Commercial,Multi-Family,See Remarks
  • First Right Of Refusal: false
  • Possible Use: Commercial, Multi-Family, See Remarks
  • Preliminary Title Ordered: Yes
  • Senior Community: No
  • Special Listing Conditions: None
  • Photos Count: 12
Lot Information
  • Lot Details: Curbs, Paved, Sidewalk
  • Lot Size Source: Pierce County Assessor
  • Parcel Number Free Text: 0320315024
  • Calculated Square Footage: 44467
  • Structure Type: Multi Family
  • Square Footage Finished: 0
  • Square Footage Unfinished: 0
  • Building Area Total: 44467.0
  • Building Area Units: Square Feet
  • Property Type: Residential Income
  • Elevation Units: Feet
  • Irrigation Water Rights: No
Multi Family
Building Details
  • Number of Uncovered Spaces: 200
  • Number of Stories in Building: 2
  • Vacancy Rate: 0
  • Number Of Units Total: 2
  • Units Below Grade: false
  • Units In Building Total: 142
Financing / Income and Expenses
  • Electric Expense: $0
  • Total Expenses: 0
  • Gross Adjusted Income: 0
  • Gross Rent Multiplier: 0
  • Gross Scheduled Income: $0
  • Insurance Expense: $0
  • Net Operating Income: $0
  • Other Expenses: $0
  • Total Monthly Income: 0
  • Fuel Expense: $0
Unit 1
  • Name Unit 1: 0-71
  • Square Feet Unit 1: 210
  • Bedrooms Unit 1: 0
  • Bathrooms Unit 1: 1
Unit 2
  • Name Unit 2: 72-142
  • Square Feet Unit 2: 280
  • Bedrooms Unit 2: 0
  • Bathrooms Unit 2: 1
Rental
Rent Information
  • Occupant Type: Vacant
  • Leasable Area: 40877.0
  • Leasable Area Units: Square Feet

Property History for 8702-8716 South Hosmer Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 8702-8716 South Hosmer Street

This home is within Clover Park School District.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - 6 to 8
Public - 9 to 12
Public - 6 to 12
Rating
School
Distance
Park Lodge Elementary School
PublicPK to 5

Hudtloff Middle School
Public6 to 8

Clover Park High School
Public9 to 12

Harrison Preparatory School
Public6 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Westlake Associates, Inc.

Listing provided courtesy of NWMLS, RMLS or Yakima MLS. The information contained in this listing has not been verified by Compass or the MLS and should be verified by the buyer. The DOM value represents the number of days this listing has been Active on this website.