A 15-unit townhome community in Tacoma's West End sold for $7.25 million, with a pending city application that could convert the property to individual ownership.
The Narrows Townhomes at 8524 19th St. W. sold Monday, Sept. 28, to an LLC affiliated with Puyallup-based North40 Capital, led by President and CEO Daniel Casey, as The News Tribune first reported.
The seller was The Narrows Townhomes LLC of University Place, affiliated with Adam Raygor, who acquired the site in 2015.
Built in 2022, the property has three buildings with five units each. Units average 1,650 square feet with rooftop patios and two-car garages.
A land-use application before the city would divide the property into individual lots, one per townhome, allowing fee-simple ownership. City spokesperson Maria Lee told The News Tribune the application was deemed complete in early September and is in its first round of review.
The city's hearing examiner will make the final decision after a public hearing. No date has been set.
North40 Capital, based in Puyallup, develops and manages residential and commercial properties across the Puget Sound region.
