Looking to expand your Tacoma multifamily portfolio or make your first investment? This fourplex offers a strong value-add opportunity with several major improvements already completed or underway. The exterior has been freshly painted, two units have been fully renovated, and two additional units have received bathroom updates. The crawl space has also been improved with a new vapor barrier and insulation, and a new roof is scheduled for installation. Additional upside remains in the two units that have not yet been fully renovated, along with the opportunity to bring rents closer to current market levels. With an effective renovation and leasing strategy, the property offers the potential to improve cash flow, target approximately a 6% return, and build long-term equity through increased income and property value. A solid opportunity for an investor looking to improve an existing asset, increase rents and unlock additional value in the Tacoma market.
| MLS # | 2571607 |
|---|---|
| Listing Type | For Sale |
| Building Name | Freedom Add |
| Sub-Type | Resale |
| Status | Active |
| Year | 1983 |
| Days On Site | 10 |
| Listing Provided By | Keller Williams Rty Tacoma | Brian Thayer |
| SQ Feet | 3,328 |
|---|---|
| Car Port | Yes |
| Story(s) | 2 |
| Units | 4 |
| Zoning | Multi-Family |
| Acreage | 0.29 |
| Property | 9393 |
|---|
| State | WA |
|---|---|
| County | Pierce |
| City | Tacoma |
| Zip Code | 98404 |
| Area | 64 Parkland | Midland |
| Community Name | Parkland |
| Listing VS Median (in Parkland) | |
Price: $875,000 low | high Med: $475,000 sqft: 3,328 low | high Med: 1,320 $ / sqft: $263 low | high Med: $360 On site: 10 low | high Med: 46 | |
| State | WA |
|---|---|
| County | Pierce |
| City | Tacoma |
| Zip Code | 98404 |
| Area | 64 Parkland | Midland |
| Community Name | Parkland |
| Listing VS Median (in Parkland) | |
Price: $875,000 low | high Med: $475,000 sqft: 3,328 low | high Med: 1,320 $ / sqft: $263 low | high Med: $360 On site: 10 low | high Med: 46 | |