What's Happening?
HomeTowne Studios Tacoma-Puyallup, an economy-scale extended stay hotel located in the Seattle-Tacoma metro area, has been listed for sale. The property features 133 studio units equipped with kitchenettes, catering to long-term lodging needs such as workforce housing, relocation, and contract travelers. Built in 1999 and renovated in 2015, the hotel is situated on approximately 3.93 acres of land. The sale offers investors brand flexibility and operational upside, with zoning that supports potential conversion to housing. The Call for Offers is scheduled for September 17, 2025.
Why It's Important?
The listing of HomeTowne Studios Tacoma-Puyallup for sale presents a significant opportunity for investors in the hospitality sector, particularly those interested in extended stay properties. The hotel's location in a high-demand area near major employers and educational institutions ensures a steady stream of business, making it an attractive investment. The potential for conversion to housing under the Multi-Family Tax Exemption zoning adds another layer of investment flexibility, appealing to those looking to diversify their portfolios. The sale could impact local real estate dynamics, influencing property values and development trends in the region.
What's Next?
Interested buyers will need to prepare for the Call for Offers on September 17, 2025. Potential investors may conduct due diligence to assess the property's value and operational potential. The sale could lead to changes in management and operational strategies, aiming to maximize revenue and efficiency. The local community may see increased economic activity as new ownership potentially invests in upgrades and improvements, enhancing the property's appeal and functionality.
