2420 S I St, Tacoma, WA
Sold for $1,090,000 | 6 Units

Every investment property should move you closer to your long-term goals.

I'm excited to share the successful closing of this brand-new 6-unit apartment building in Tacoma. This transaction was part of a tight 1031 exchange, helping my client transition out of an older property that required constant maintenance and into a brand-new, fully occupied asset designed for long-term, hassle-free ownership.

Deal Highlights

  • 🔑 Closed at $1,090,000
  • 🔑 1031 Exchange Successfully Completed
  • 🔑 5.875% Commercial Financing Secured
  • 🔑 Traded an older, problem property for brand-new construction

A Strategic Upgrade

Not every investment decision is about maximizing cash flow.

Sometimes the biggest return comes from reducing risk, eliminating deferred maintenance, and simplifying ownership.

By exchanging into new construction, my client significantly reduced future capital expenditure concerns while acquiring a fully leased property with modern systems, lower maintenance requirements, and strong long-term rental demand.

Why 1031 Exchanges Matter

A 1031 exchange allows investors to defer capital gains taxes while repositioning their portfolio into properties that better align with their investment goals.

Whether that's moving into newer construction, increasing cash flow, consolidating multiple properties, or diversifying into a different market, a well-planned exchange can be one of the most powerful wealth-building tools available to real estate investors.

Congratulations!

Congratulations to my client on a successful exchange and the next chapter in growing their investment portfolio.

It's always rewarding to help clients move from managing headaches to owning properties that provide greater peace of mind and long-term financial security.

Charles Burnett, CCIM
Founder | Sound Property Group

I specialize exclusively in the sale of apartment buildings and multifamily investment properties throughout Tacoma, Seattle, and the greater Puget Sound region, helping owners maximize value and strategically reposition their portfolios through acquisitions and 1031 exchanges.