Narrows Townhomes, a 15-unit townhome community located at 8524 19th Street W. in Tacoma, Washington, has sold for $7,300,000 in a fully-marketed transaction arranged by Kidder Mathews. At $487,000 per unit, the sale represents the highest price per unit recorded for a multifamily property in Pierce County on record.
Elijah Piper and Tony Herrmann of the Simon | Anderson Multifamily Team at Kidder Mathews represented the seller. The firm was the sole brokerage involved in the transaction. The buyer, a longtime Puget Sound investor, plans to individually parcel the townhomes for resale as single-family residences.
Completed in 2022, Narrows Townhomes features large-format units averaging 1,650 square feet, each with private two-car garages and rooftop patios overlooking the Narrows Bridge. The community is located in the highly-rated University Place School District and has achieved average rents exceeding $3,300 per unit, more than double the Pierce County average.
“The Narrows Townhomes presented a unique opportunity in the Tacoma market,” said Piper. “At this price point, buyers were initially cautious, but once they toured the asset and understood the quality and location, the value became clear. That continues to be the story in Pierce County, with high-quality product in top-tier locations still commanding premium pricing.”
About the Simon | Anderson Multifamily Team The apartment brokerage team led by Dylan Simon and Jerrid Anderson of Kidder Mathews represents apartment investors, developers, and landowners in the sale and purchase of apartment buildings and development land across the entire State of Washington. The team of 15 brokerage professionals specializes in the sale and purchasing of apartment buildings and development land from $1 million to more than $100 million. For more information, visit simonandersonteam.com.
About Kidder Mathews
Kidder Mathews is the largest fully independent commercial real estate firm in the Western U.S., with over 900 professionals in 20 offices across Washington, Oregon, California, Nevada, Arizona, and Texas. We offer a complete range of brokerage, appraisal, asset services, consulting, and debt & equity finance services for all property types. Kidder Mathews averages $9 billion in transaction volume, manages 55 million square feet of space, and conducts nearly 2,700 appraisal, consulting, and cost segregation assignments annually. For more information, visit kidder.com.
