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27686966
27686967

3841 S Park Ave, Tacoma, WA 98418

GB
WA 22018000
$925,000
245 days on market
Updated 29 days ago
Opportunity zone

Tacoma 6 Unit

Details
APN 7470034270
Property Type Multifamily
Sub Type Apartment Building
Square Footage 3,700
Net Rentable (SqFt) 3,700
Units 6
Cap Rate 6.78%
NOI $62,715
Pro-Forma Cap Rate 7.41%
Price per SqFt $250
Class C
Year Built 1950
Year Renovated 2020
Buildings 1
Stories 1
Investment Type Stabilized
Ground Lease No

6 units in Tacoma, Washington with 6.78% Cap Rate on Day 1

Marketing description

The Lincoln District 6-unit is a well-maintained, single-story apartment building situated on a _ square foot lot in Tacoma’s Lincoln District. Originally built in 1950 and fully renovated in 2020, the property features a low-maintenance brick façade, double-paned vinyl windows, metal entry doors, and a composition shingle roof replaced in 2020. The unit mix includes two two-bedroom/one-bath apartments and four one-bedroom/one-bath apartments, averaging 750 square feet and 550 square feet, respectively. All six units have been comprehensively renovated within the last five years with luxury vinyl plank flooring, white shaker cabinetry, new appliances, granite countertops, and LED lighting fixtures.

The property also offers a spacious 1,816 square foot basement with four large storage lockers, two sets of coin-operated washers and dryers, and individual water heaters. Heating is provided via electric baseboards in the one-bedroom units and gas furnaces—located in the basement—for the two-bedroom units. Each apartment benefits from dual entry, with a front door accessible through the courtyard and a back door leading to a shared backyard, laundry area, and storage lockers. The property is separately metered for gas and electricity, with residents billed back $100 per month for water, sewer, and garbage.

Listing Contacts

GB
WA 22018000

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$62,715.00
$5,226.25/mo

Valuation Metrics

0
DSCR
6.78%
Cap Rate
6.78%
ROI

Map

Zoning

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URX MixedMixed UseUrban Residential Mixed Use
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Last updated May 26, 2026 For deeper zoning details, reports are available at Zoneomics

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Property History

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Additional Information

Name
Gabe Blake
License
22018000
Brokerage
Blake Investment Advisors
Brokerage Phone
(206) 618-2207
Brokerage Address
6834 51st Avenue Northeast
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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