Building Details

Year Built 1962

Year Renovated 1990

Buildings 1

Stories 1

Units 5

Listing Agency: Compass

Listed By: Lisa Le · License #123519 Show Phone

Source: Crexi

Added: Mar 27 Changed: Oct 6 Last Checked: Oct 16 at 8:00AM

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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.

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 / Yr

$45,800

Cap Rate

5.73%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$916,000 $916.0K

Cap Rate 7%

$654,286 $654.3K

Cap Rate 9%

$508,889 $508.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,000 SF

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 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 (±1% cap)

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 (±1% cap)

NOI $86,064 @ 7.0% cap · market cap 10.76%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Apartment buildings

Suggested Use

Top Pick Dental Office Law Firm Bakery Skin Care Clinic (Bike/Boat/Book/etc) Store Parking Lot & Garage

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

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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