Four-Unit Apartment
New
For Sale
$945,000
1101 S Woodlawn Street 1-4, Tacoma, WA 98465
Each residence includes a washer, dryer, and fireplace, with spacious three-bedroom layouts.
Property Size3,968 SF
Lot Size0.24 Acres
Price / SF$238.16
Days on Market4
Property Features for 1101 S Woodlawn Street 1-4
General Information
Standard status
Active
Size
3,968 SF
Total Parking Spaces
5
Lot size
0.24 Acres
Property subtype
Residential Income
Zoning
UR-3
Net Operating Income
$58,993
Units
Unit Mix
4 x 3BR/1.5BA
Multifamily Units
4
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$9,978
Amenities
Seller intends to review offers upon receipt
Multi-Family
TPU
yes
Cable TV
1997
Electric
no
Public Records
Laminate, Vinyl Plank
2
Square Feet
Composition
Sewer Connected
54 - 4-Plex
Alley, Dead End Street
Public
5
Quadruplex
Feet
Brick, Wood
false
Slab
10251
Realist
11172
4
Building Details
Building Size
3,968 SF
Year Built
1977
Listed By:
Multifamily Properties
(206) 250-6961
Source:
Multifamilymomentum.idxbroker
Added: Sep 1
Last Checked: Sep 4 at 2:00AM
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 Multifamily Properties
Investment Insights
Based on property information with market context.
This Tacoma fourplex contains four 3-bedroom, 1.5-bath units within a 3,968-square-foot building on a 10,251-square-foot lot. Every unit includes a full washer and dryer set along with a fireplace. Units 1 and 4 have been remodeled and are being held vacant. Property improvements also include fresh exterior paint, newer water heaters, new flooring, and interior paint.
The asset is located near Tacoma’s North End, with access to I-5, SR-16, downtown, and the 6th Avenue area. A self-storage facility is next door, and the property offers connectivity for travel toward JBLM and King County. The parcel is served by public sewer and TPU utilities, with no HOA reported.
The asset is located near Tacoma’s North End, with access to I-5, SR-16, downtown, and the 6th Avenue area. A self-storage facility is next door, and the property offers connectivity for travel toward JBLM and King County. The parcel is served by public sewer and TPU utilities, with no HOA reported.
Key Highlights
- Four 3‑bed, 1.5‑bath units in a quadruplex configuration
- 3,968 SF building on a 10,251 SF lot
- Full washer and dryer sets plus fireplaces in all four units
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
$52,280
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
5.53%
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%
$1,045,600
$1.0M
Cap Rate 7%
$746,857
$746.9K
Cap Rate 9%
$580,889
$580.9K
Market Conditions
NOI Build-Up for 3,968 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
$78.6K $19.80/SF
− Vacancy
−$3.9K −$0.98/SF
EGI
$74.7K $18.82/SF
− OpEx
−$22.4K −$5.65/SF
NOI
$52.3K $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 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%
$1,045,600
Cap Rate 7%
$746,857
Cap Rate 9%
$580,889
Alternative Uses
Best Use
Multifamily LT 5
$746.9K
$653.5K – $871.3K
NOI $52,280 @ 7.0% cap · market cap 5.53%
Second Best
Apartment 5plus
$649.0K
$567.9K – $757.2K
NOI $45,433 @ 7.0% cap · market cap 4.81%
Theoretical Best
Office A
$1.22M
$1.07M – $1.42M
NOI $85,375 @ 7.0% cap · market cap 9.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
655
Businesses Nearby
Explore this area
Business Placement
Demographics for 98465, WA
7,524
Population
3,771
Households
2
Avg Household Size
41
Median Age
38%
College-Educated
97%
High-School Grad
1.6 sq mi
ZIP Area
4,703
Density / Sq Mi
$77,083
Median Household Income
$54,829
Median Earnings
$1,453
Median Rent
$544,500
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?
Quadplex - Each residence includes a washer, dryer, and fireplace, with spacious three-bedroom layouts.
Where is this quadplex located?
The property is located at 1101 S Woodlawn Street 1-4 Tacoma, WA.
What is the asking price?
The asking price for this property is $945,000.
What are key features of this property?
This property features: Four 3‑bed, 1.5‑bath units in a quadruplex configuration; 3,968 SF building on a 10,251 SF lot; Full washer and dryer sets plus fireplaces in all four units
