MEADOWBROOK APARTMENTS

LAKEWOOD, WA

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Overview:

Meadowbrook Apartments

Meadowbrook Apartments is a 48-unit multifamily property built in 1978, featuring 36 one-bedroom and 12 two-bedroom units with an average unit size of 618 sq. ft. Most units have been recently renovated with hardwood floors, new carpets, and fresh paint.

The property sits on 5.22 acres across two adjacent tax parcels, offering a unique development opportunity to add up to 66 additional units and 87 parking spaces. There’s also potential to develop RV or mini storage on the excess land. Additionally, it’s located within an Opportunity Zone, providing investors with significant tax benefits.

Strategically located across from a new Amazon Distribution Center, the property is less than a mile from Interstate 5 and just 1.7 miles from the Madigan Gate of Joint Base Lewis-McChord (JBLM). A bus stop across the street connects the site to Madigan Army Medical Center and JBLM, ensuring strong transit accessibility.

Located in Lakewood, WA, a city with a population of nearly 65,000, the area is supported by major employment hubs, especially JBLM, which employs over 45,000 military and civilian personnel. Due to limited on-base housing, off-base rental demand is consistently strong, positioning Meadowbrook as a prime investment opportunity in a high-demand rental market.

Highlights

Meadowbrook Apartments

SPACIOUS AND UPDATED UNITS

Most units were recently updated with wood flooring, new carpets, and fresh paint.

STRONG LOCAL ECONOMY

Large employers such as Joint Base Lewis McChord provide thousands of stable jobs to the area.

COMMUNITY AMENITIES

The properties are near American Lake, picnic areas, swimming, and boating.

EASY FREEWAY ACCESS

Quick commute to major employers, schools, and leisure activities.

Property Summary – Meadowbrook Apartments

Location

7515 SW 146th St, Lakewood, WA 98439

Total Units

48 (36 One-Bedroom, 12 Two-Bedroom)

Average Unit Size

618 sq. ft.

Recent Renovations

Hardwood floors, new carpets, fresh paint

Parking

60 total spaces

Lot Size

5.22 Acres

Net Operating Income (Year 1 Projection)

$501,043

Gross Annual Rent:

Current: $729,996
Pro Forma: $835,200

Price Per Unit:

$98,333
(based on asking price ÷ 48 units)

Expansion Potential

Up to 66 additional units + RV/Mini Storage

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Meadowbrook Apartments

Why Invest in Meadowbrook Apartments

A proven value-add opportunity in a high-demand rental market, positioned for strong returns and long-term growth.

Strategic Location & Rental Demand

Situated near Amazon’s new distribution center and just minutes from JBLM, Meadowbrook benefits from high rental demand driven by military and civilian professionals. Its proximity to I-5 and public transit ensures easy commuter access.

Value-Add & Expansion Potential

With 5.22 acres of land and approval for 66 more units, the property offers strong upside through development or added storage income. Renovated interiors support rent growth with minimal capital investment.

Investor Tax & Income Benefits

Located in an Opportunity Zone, Meadowbrook provides attractive tax incentives alongside stable projected income. With over $500K in Year 1 NOI and rent upside already in motion, it’s built for long-term value.

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FINANCIAL ANALYSIS

Financial Performance at a Glance

Strong income, stable operations, and clear upside—Meadowbrook is built for long-term returns.

Financial Performance Snapshot

Meadowbrook Apartments generates a current annual gross rent of $729,996, with pro forma projections reaching $835,200. Recent renovations have positioned the property for rent increases and operational efficiency.

Strong Net Operating Income

The projected Year 1 net operating income (NOI) stands at $501,043, reflecting both the market rent upside and well-managed operating expenses. With expenses at just under 40% of effective gross income, the asset delivers solid cash flow.

Attractive Rent Metrics

Current average rents are $1,221 for one-bedroom and $1,408 for two-bedroom units, with a blended average of $1,267 per unit and $2.06 per square foot. These figures reflect strong market alignment and potential for further rental growth.

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Opportunity Zone Tax Benefits

Tax Reduction

If the investment is held for 5 years, the taxable gain is reduced by 10%. If held for 7 years, the reduction increases to 15%, offering even greater savings.

Tax Exclusion

Capital gains on investments held in a Qualified Opportunity Fund for at least 10 years are completely tax-exempt—meaning all appreciation is permanently forgiven.

Tax Deferral

Taxes on reinvested capital gains are deferred until the earlier of the sale of the Opportunity Fund investment or December 31, 2026.
Meadowbrook Apartments

Location Overview

Located in Lakewood, WA, just 20 minutes from Tacoma and 53 minutes from Seattle, Meadowbrook offers access to top employers like JBLM and Amazon.
The area boasts award-winning schools, major job centers, and strong transit connectivity.
With nearby lakes, parks, and a 340-acre regional destination, it blends lifestyle and long-term rental demand.

Prime Location in Growing Lakewood

Meadowbrook is located in Lakewood, WA—just 40 miles from Seattle and 20 minutes from Tacoma—placing it in one of the most accessible and strategically positioned submarkets in the Puget Sound region.

Proximity to Major Employment Hubs

The property is just 1.7 miles from Joint Base Lewis-McChord (JBLM), the area’s largest employer with over 45,000 personnel. It also sits directly across from a new Amazon Distribution Center, fueling steady demand from working professionals.

Community & Lifestyle Amenities

Surrounded by parks, lakes, schools, and shopping, the area offers strong livability. Residents enjoy close access to Fort Steilacoom Park, Lakewood Towne Center, and award-winning educational institutions—making Meadowbrook attractive for long-term tenants.

 

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NEXT STEPS

This opportunity is available to accredited investors only.

Before proceeding to review and accept your offering documents, please book a call to learn more and clarify any questions you may have.
BOOK A CALL
Review & complete the offering documents. Secure investment slots-priority given to early commitments. Wire funds within five (5) business days of document approval.
IRA Funds are accepted. This may require converting your IRA to a self-directed IRA. Contact us for more information.
FAQ

Frequently Asked Questions

 We invest in residential, commercial, and Opportunity Zone properties that offer strong returns.

 We conduct in-depth market research, due diligence, and risk assessment before finalizing investments.

Our investments are structured for accredited investors, but we also offer consulting services for non-accredited investors.

 Contact us directly via email or phone for personalized assistance.

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To contact our support services, simply visit the Contact Us page on our website. You can reach out via phone, email, or by filling out the inquiry form. Our team is available to assist you with any questions or concerns you may have.