New-Construction 4-Plex
For Sale
$1,149,950
Pending
1129 Fawcett Avenue # A-D, Tacoma, WA 98402
Newly built 4-plex configured as two duplexes with in-unit laundry and ductless mini-split heating and cooling.
Property Size3,350 SF
Days on Market161
Property Features for 1129 Fawcett Avenue # A-D
General Information
Standard status
Pending
Size
3,350 SF
Total Parking Spaces
2
Property subtype
Pending
Net Operating Income
$82,018
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$1,782
Amenities
Vinyl Plank
Yes
No
3
Electric
Alley,Curbs,Paved,Sidewalk
Public
Cable TV,Fenced-Partially,High Speed Internet
2
0.0689
Cement Planked
Poured Concrete
3350
Building Details
Building Size
3,350 SF
Year Built
2026
Stories
3
Listing Agency:
NextHome Preview Properties
(503) 819-6642
Listed By:
John Perta · License #01143667
(503) 819-6642
Source:
Premierepropertygroup
Added: Mar 19
Changed: Aug 25
Last Checked: Aug 26 at 6:00AM
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 NextHome Preview Properties
Investment Insights
Based on property information with market context.
This newly constructed 4-plex is built as two separate duplexes. The unit mix includes two 2-bedroom, 2.5-bath units with open layouts and ensuite bathrooms for every bedroom, and two 1-bedroom units designed for affordability and independence. Interiors feature commercial-grade vinyl plank flooring, quartz countertops, and stainless steel appliances, along with a premium trim and door package. Each unit also includes a full-size washer and dryer. Mechanical and envelope features include extra insulation, energy-efficient Plygem windows, and ductless mini-split heating and air conditioning systems.
The property is located at 1129 Fawcett Avenue # A-D in Tacoma, with remarks noting water views and City/Downtown views. The area is described as Downtown Tacoma near restaurants, breweries, businesses, the Link, UW Tacoma, and the Tacoma Convention Center.
For investors seeking a low-maintenance residential income asset, this property offers a modern, tenant-ready package with durable finishes, in-unit laundry convenience, and efficient heating and cooling. The seller also notes a 12-year property tax abatement and land-value only taxes, with 2026 taxes stated as $1,644 per year. The duplex-by-duplex configuration may appeal to buyers who value operational simplicity within a single ownership structure.
The property is located at 1129 Fawcett Avenue # A-D in Tacoma, with remarks noting water views and City/Downtown views. The area is described as Downtown Tacoma near restaurants, breweries, businesses, the Link, UW Tacoma, and the Tacoma Convention Center.
For investors seeking a low-maintenance residential income asset, this property offers a modern, tenant-ready package with durable finishes, in-unit laundry convenience, and efficient heating and cooling. The seller also notes a 12-year property tax abatement and land-value only taxes, with 2026 taxes stated as $1,644 per year. The duplex-by-duplex configuration may appeal to buyers who value operational simplicity within a single ownership structure.
Key Highlights
- New construction 4‑plex built in 2026, configured as two separate duplexes
- Total building area of 3,350 SF on a 0.0689‑acre lot
- Two 2‑bed/2.5‑bath units with 1,125 SF each, including an ensuite bathroom for every bedroom
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
$44,137
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
3.84%
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%
$882,740
$882.7K
Cap Rate 7%
$630,529
$630.5K
Cap Rate 9%
$490,411
$490.4K
Market Conditions
NOI Build-Up for 3,350 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
$66.3K $19.80/SF
− Vacancy
−$3.3K −$0.98/SF
EGI
$63.1K $18.82/SF
− OpEx
−$18.9K −$5.65/SF
NOI
$44.1K $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%
$882,740
Cap Rate 7%
$630,529
Cap Rate 9%
$490,411
Alternative Uses
Best Use
Multifamily LT 5
$630.5K
$551.7K – $735.6K
NOI $44,137 @ 7.0% cap · market cap 3.84%
Second Best
Apartment 5plus
$548.0K
$479.5K – $639.3K
NOI $38,357 @ 7.0% cap · market cap 3.34%
Theoretical Best
Office A
$1.03M
$901.0K – $1.20M
NOI $72,079 @ 7.0% cap · market cap 6.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
7,351
Businesses Nearby
Explore this area
Business Placement
Demographics for 98402, WA
8,053
Population
4,788
Households
1.7
Avg Household Size
37
Median Age
44%
College-Educated
91%
High-School Grad
1.2 sq mi
ZIP Area
6,711
Density / Sq Mi
$54,712
Median Household Income
$43,145
Median Earnings
$1,478
Median Rent
$558,100
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 - Newly built 4-plex configured as two duplexes with in-unit laundry and ductless mini-split heating and cooling.
Where is this quadplex located?
The property is located at 1129 Fawcett Avenue # A-D Tacoma, WA.
What is the asking price?
The asking price for this property is $1,149,950.
What are key features of this property?
This property features: New construction 4‑plex built in 2026, configured as two separate duplexes; Total building area of 3,350 SF on a 0.0689‑acre lot; Two 2‑bed/2.5‑bath units with 1,125 SF each, including an ensuite bathroom for every bedroom
