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About the Listing 7248 - 95759,100709
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.
Listing Highlights
Interior Details
- Bedrooms: 8
- Bathrooms: 6 Full
- Appliances:
- Air Cond:
- Heating: Wall Furnace
- Fireplaces: 0
- Floor: Ceramic Tile,Vinyl Plank
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: TPU
Exterior Details
- Lot Description: Alley,Curbs,Paved,Sidewalk,Fenced-Partially,Patio,Zoning: Multi-Family
- Garage Capacity: N/A
- Parking Spaces: 3
- Zoning: Multi-Family
- Roof: Composition
- Others: Wood Products,Good
- Sewer: TPU
Financial Details
- Tax Amount: $4,371
- Taxes w/Assessments: N/A
- Tax/Property ID: 2006210070
- Tax Year: 2026
Payment Calculator
Monthly Payment
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Questions About..
615 Martin Luther King Jr Way Tacoma, WA 98405
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