1405 Martin Luther King Jr Way, Tacoma, WA 98405
- $1,300,000
- 5,680
- SqFt
Listing courtesy of Theory Real Estate.
- List Price
- $1,300,000
- Status
- ACTIVE
- MLS#
- 2467071
- Price Change
- ▼ $50,000 1783483484
- Days on Market
- 288
- Style
- 56 - 10+ Units
- Finished SqFt
- 5,680
- Area Total SqFt
- 5680
- Annual Tax Ammount
- 13669
- Lot Size (sq ft)
- 6,500
- Sewer
- Sewer Connected
Property Description
Are you looking for your next multi family investment? Maybe 1031 exchange? Look no further! This 10 unit apartment complex in Hilltop is an incredible opportunity and perfect for your portfolio! Very conforming 2 story complex with 5 units down, 5 units up, a laundry room, and storage room! Each unit is a 1 bed 1 bath and all separately metered! Various updates have been done throughout the interiors and exterior of the property! This is a prime location conveniently located on the Tacoma Link Light Rail, nearby UW Tacoma, Stadium District, Hospitals, restaurants, shops, entertainment, and more! Fully gated property for security and a dog run out back! This has everything you need for your next investment! Hurry before it's gone!
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Additional Information
- List Date
- 2025-10-11 23:28:11
- Community
- Hilltop
- Net Operating Income
- $95,359
- Gross Adjusted Income
- $138,828
- Gross Scheduled Income
- $138,828
- Total Monthly Income
- $11,569
- Insurance Expenses
- $7,860
- Water/Sewer/Garbage Expenses
- $13,000
- Gross Rent Multiplier
- 9.36
- Total Expenses
- $43,469
- Cap Rate
- 7.34
- Total Number of Units
- 10
- Unit Name
- 1405
- Potential Terms
- Cash, Conventional, FHA, VA Loan
- Year Built
- 1968
- Roof
- Composition
- Site Features
- Fenced-Partially, Gated Entry
- Electric Expenses
- 2000
- Other Expenses
- 6940
- Energy Source
- Electric
- School District
- Tacoma
- Total Monthly Income
- $11,569
- Gross Scheduled Income
- $138,828
- Gross Adjusted Income
- $138,828
- Tax Year
- 2025
- Insurance Expense
- $7,860
- W/S/G Expenses
- $13,000
- Total Expenses
- $43,469
- Net Operating Income
- $95,359
- Gross Rent Multiplier
- 9.36
- Cap Rate
- 7.34
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.