615 Martin Luther King Jr WAY, Tacoma, WA 98405
615 Martin Luther King Jr WAY, Tacoma, WA 98405
615 Martin Luther King Jr WAY, Tacoma, WA 98405
615 Martin Luther King Jr WAY, Tacoma, WA 98405
615 Martin Luther King Jr WAY, Tacoma, WA 98405
615 Martin Luther King Jr WAY, Tacoma, WA 98405
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RSVP Real Estate Group

RSVP Real Estate Group

+1(425) 610-7787
Listed by:1 Percent Lists Tacoma • Chad Nolan
$ 619,999
Est. payment | /mo

8 Beds

6 Baths

2,986 SqFt

Save Virtual Tour
$ 619,999
Est. payment | /mo
Save Virtual Tour

8 Beds

6 Baths

2,986 SqFt

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 2,986 sqft

Price per Sqft $207

Subdivision Stadium District

MLS Listing ID 2562234

Style 53 - Tri-plex

Bedrooms 8

Year Built 1892

Annual Tax Amount $4,371

Lot Size 3,510 Sqft

Property Sub-Type Multi Family

Property Description

Exceptional turnkey investment opportunity in the heart of Downtown Tacoma near Wright Park! Fully renovated, this property functions as a tri-plex while maintaining its legal duplex status, offering two spacious 3-bedroom units, plus a finished lower-level 2-bedroom unit for additional income potential. All three units have been extensively updated and are currently vacant, providing flexibility for investors seeking market rents or owner-occupants looking to offset their mortgage with rental income. Three separate electric meters allow tenants to pay their own electricity, helping reduce operating expenses. The property also offers outstanding future upside with potential to construct a Detached Accessory Dwelling Unit (DADU) in the rear yard, creating the opportunity for a 4th additional income-producing unit. A freshly improved backyard, alley access, and three dedicated parking spaces further enhance the property's functionality and appeal. Located amongst major hospitals, medical facilities, transit, the Tacoma Link light rail, downtown Tacoma, and major commuter routes, this is an ideal location for healthcare professionals, commuters, and long-term tenants alike. A rare opportunity to acquire a move-in-ready investment property with immediate cash flow potential and future development possibilities. Buyer to verify all redevelopment, zoning, and DADU potential. Approx. 11.6% cap rate, $84,000 gross annual income, and $7,000/month in rental income.

Location

State WA

County Pierce

Area 20 - North Tacoma

Interior

Flooring Ceramic Tile, Vinyl Plank

Fireplace false

Exterior

Exterior Feature Wood Products

Amenities Available Fenced-Partially, Patio

View Y/N Yes

View Bay, City

Roof Type Composition

Building

Lot Description Alley, Curbs, Paved, Sidewalk

Sewer Sewer Connected

Water Public

New Construction No

Schools

School District Tacoma

Others

Senior Community No

Acceptable Financing Cash, Conventional, FHA, VA Loan

Listing Terms Cash, Conventional, FHA, VA Loan

Virtual Tour https://player.vimeo.com/video/1214027551?h=254190caa9

Northwest MLS (NWMLS)
"Three Trees" icon indicates a listing provided courtesy of NWMLS.

Nearby Schools & Businesses

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RSVP Real Estate Group

RSVP Real Estate Group

+1(425) 610-7787

Real Estate Firm | License ID: 17634

Real Estate Firm License ID: 17634

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