5-Unit Apartment
For Sale
Contact for pricing
10423 Golden Given Rd E, Tacoma, WA 98445
Five matching apartments support a straightforward small multifamily operation in Tacoma’s Midland area.
Property Size4,000 SF
Price / SF$199
Days on Market161
Property Features for 10423 Golden Given Rd E
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Multifamily
Net Operating Income
$56,469
Units
Unit Mix
5 x 2BR/1BA
Multifamily Units
5
Additional Details
Cap Rate
7.06%
Building Details
Year Built
1962
Year Renovated
1990
Buildings
1
Stories
1
Units
5
Listing Agency:
Compass
Listed By:
Lisa Le · License #123519
(425) 242-6440
Source:
Crexi
Added: Mar 27
Changed: Sep 2
Last Checked: Sep 2 at 8:36AM
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 Compass
Investment Insights
Based on property information with market context.
This apartment property contains five two-bedroom, one-bath units, with each residence measuring approximately 700 square feet. The uniform floor plan creates a consistent configuration across the building and supports streamlined leasing and day-to-day management. The property size is 4,000 square feet, and it was built in 1962.
Situated at 10423 Golden Given Rd E in Tacoma’s Midland neighborhood, the property is near commuter routes, shopping centers, and everyday amenities. Current operating performance includes a 7.06% cap rate and annual net operating income of $56,469. The five-unit scale and repeated unit layout offer a clearly defined small multifamily format.
Situated at 10423 Golden Given Rd E in Tacoma’s Midland neighborhood, the property is near commuter routes, shopping centers, and everyday amenities. Current operating performance includes a 7.06% cap rate and annual net operating income of $56,469. The five-unit scale and repeated unit layout offer a clearly defined small multifamily format.
Key Highlights
- Five 2‑bedroom, 1‑bath apartments
- Approximately 700 square feet per unit
- 4,000‑square‑foot property built in 1962
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$45,800
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.73%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$916,000
$916.0K
Cap Rate 7%
$654,286
$654.3K
Cap Rate 9%
$508,889
$508.9K
Market Conditions
NOI Build-Up for 4,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$87.8K $21.96/SF
− Vacancy
−$4.6K −$1.14/SF
EGI
$83.3K $20.82/SF
− OpEx
−$37.5K −$9.37/SF
NOI
$45.8K $11.45/SF
Area
Tacoma, WA
Vacancy
5.20%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$916,000
Cap Rate 7%
$654,286
Cap Rate 9%
$508,889
Alternative Uses
Best Use
Apartment 5plus
$654.3K
$572.5K – $763.3K
NOI $45,800 @ 7.0% cap · market cap 5.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.23M
$1.08M – $1.43M
NOI $86,064 @ 7.0% cap · market cap 10.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
308
Businesses Nearby
Explore this area
Business Placement
Demographics for 98445, WA
33,927
Population
12,546
Households
2.7
Avg Household Size
36
Median Age
19%
College-Educated
90%
High-School Grad
10.4 sq mi
ZIP Area
3,262
Density / Sq Mi
$90,063
Median Household Income
$48,574
Median Earnings
$1,721
Median Rent
$413,200
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Five matching apartments support a straightforward small multifamily operation in Tacoma’s Midland area.
Where is this apartment building located?
The property is located at 10423 Golden Given Rd E Tacoma, WA.
What is the asking price?
The asking price for this property is $799,997.
What are key features of this property?
This property features: Five 2‑bedroom, 1‑bath apartments; Approximately 700 square feet per unit; 4,000‑square‑foot property built in 1962
