Duplex with In-Unit
For Sale
$499,900
1017 S I St, Tacoma, WA 98405
Two self-contained residences offer separate utilities and flexible occupancy options in Tacoma.
Property Size1,596 SF
Price / SF$313.22
Days on Market13
Property Features for 1017 S I St
General Information
Standard status
Active
Size
1,596 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Central
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Gross Income
$19,200
Amenities
laundry
Building Details
Year Built
1890
Year Renovated
2016
Buildings
1
Listing Agency:
Windermere Prof Partners
Listed By:
Drew Staudt · License #20116301
(253) 285-6105
Source:
Pugetsoundpropertyguide
Added: Oct 11
Changed: Oct 21
Last Checked: Oct 23 at 7:14AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Windermere Prof Partners
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Investment Insights
Based on property information with market context.
This Tacoma duplex contains two vertically arranged apartments, each with its own living area, kitchen, laundry, two bedrooms, and one bathroom. The units have no shared interior space, and electricity and water are separately metered. The 1,596-square-foot property was built in 1890 and underwent a full interior and systems remodel in 2016, including work to the roof, windows, plumbing, and electrical systems.
The lower apartment is occupied by a long-term renter, while the upper residence is vacant. The upper unit has previously been used for short-term lodging. A projected 6.38% cap rate is based on an assumed rent for the upper unit equal to the lower unit’s rent.
The lower apartment is occupied by a long-term renter, while the upper residence is vacant. The upper unit has previously been used for short-term lodging. A projected 6.38% cap rate is based on an assumed rent for the upper unit equal to the lower unit’s rent.
Key Highlights
- 1,596‑square‑foot duplex with two 2‑bedroom, 1‑bath units
- Up‑and‑down layout; each residence has its own kitchen, living area, and laundry
- No shared interior space between the units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,028
Cap Rate
4.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$420,560
$420.6K
Cap Rate 7%
$300,400
$300.4K
Cap Rate 9%
$233,644
$233.6K
Market Conditions
NOI Build-Up for 1,596 SF
Gross rent
$31.6K $19.80/SF
− Vacancy
−$1.6K −$0.98/SF
EGI
$30.0K $18.82/SF
− OpEx
−$9.0K −$5.65/SF
NOI
$21.0K $13.18/SF
Area
Tacoma, WA
Vacancy
4.94%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$420,560
Cap Rate 7%
$300,400
Cap Rate 9%
$233,644
Alternative Uses
Best Use
Multifamily LT 5
$300.4K
$262.9K – $350.5K
NOI $21,028 @ 7.0% cap · market cap 4.21%
Second Best
Apartment 5plus
$261.1K
$228.4K – $304.6K
NOI $18,274 @ 7.0% cap · market cap 3.66%
Theoretical Best
Office A
$490.6K
$429.3K – $572.3K
NOI $34,340 @ 7.0% cap · market cap 6.87%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
7,432
Businesses Nearby
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Business Placement
Demographics for 98405, WA
24,617
Population
11,645
Households
2.1
Avg Household Size
37
Median Age
31%
College-Educated
94%
High-School Grad
4.1 sq mi
ZIP Area
6,004
Density / Sq Mi
$80,024
Median Household Income
$51,028
Median Earnings
$1,480
Median Rent
$443,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Two self-contained residences offer separate utilities and flexible occupancy options in Tacoma.
Where is this duplex located?
The property is located at 1017 S I St Tacoma, WA.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: 1,596‑square‑foot duplex with two 2‑bedroom, 1‑bath units; Up‑and‑down layout; each residence has its own kitchen, living area, and laundry; No shared interior space between the units
