Kidder Mathews Arranges $15.85M Sale of Valley Vista Apartments, 108-Unit Multifamily Property in Tacoma, WA
Valley Vista Apartments, a 108-unit multifamily property located at 6830 Tacoma Mall Boulevard in Tacoma, Washington, has sold for $15,850,000, according to an announcement from Kidder Mathews. The transaction was brokered by Elijah Piper and Tony Herrmann of Kidder Mathews' Simon | Anderson Multifamily Team, along with Brian Richardson, also of Kidder Mathews. The three brokers represented the seller, Investors Management Group, and served as the sole brokers in the transaction. The buyer is a California-based investment group.
Property Overview and Location
Valley Vista Apartments is a multifamily community offering residents convenient access to major employment centers, retail, and transportation corridors throughout the Tacoma area. The property features a mix of unit types with spacious layouts and presents value-add potential, according to the announcement.
The asset benefits from its proximity to key regional drivers, including downtown Tacoma, Joint Base Lewis-McChord (JBLM), and major healthcare employers, as well as easy access to Interstate 5, enhancing connectivity throughout the Puget Sound region.
Transaction Details and Value-Add Strategy
The $15,850,000 sale price equates to approximately $146,759 per unit. No cap rate or financing details were disclosed. The deal was structured as a value-add acquisition, with the California-based buyer citing confidence in operational improvements and repositioning opportunities at the property.
The buyer views Tacoma as a market with significant upside potential despite what both parties described as a challenging broader environment for multifamily real estate transactions.
"This transaction underscores continued demand for sizable multifamily assets in the Tacoma market, particularly those offering accessibility, stability, and future upside," said Piper.
Seller Cites Execution Speed
Kevin Crook, Director of Business Development at Investors Management Group, highlighted the pace and certainty of the transaction as key factors in the outcome.
"Valley Vista presented a tight timeline in a challenging market," said Crook. "The Kidder Mathews team brought urgency, focus, and market insight that made a meaningful difference. Within days, they secured a full-price offer from a qualified buyer who delivered on every commitment and closed on time. Their ability to execute quickly and provide certainty in a time-sensitive situation exceeded our expectations."
About the Brokers
The Simon | Anderson Multifamily Team at Kidder Mathews is led by Dylan Simon and Jerrid Anderson and focuses on the sale and purchase of apartment buildings and development land across Washington State. The 12-person brokerage team handles transactions ranging from $1 million to more than $100 million.
Kidder Mathews is the largest fully independent commercial real estate firm in the Western United States, with more than 900 professionals across 19 offices in Washington, Oregon, California, Nevada, and Arizona. The firm reports approximately $9 billion in annual transaction volume and manages more than 55 million square feet of space.