Three-Suite Triplex with Private
New
For Sale
$749,000
11905 Park Ave S, Tacoma, WA 98444
Each residence has its own kitchen and laundry, with furnishings included in the sale.
Property Size2,168 SF
Price / SF$345.48
Days on Market2
Property Features for 11905 Park Ave S
General Information
Standard status
Active
Size
2,168 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 6BR/2BA, 2 x 3BR/1BA
Multifamily Units
3
Additional Details
Furnished
Yes
Amenities
covered patio
fenced backyard
storage shed
EV hookup
tankless water heater
Building Details
Year Built
1955
Year Renovated
2017
Buildings
1
Listing Agency:
WILCOX REAL ESTATE
Listed By:
Charles and Janette Wilcox
(253) 256-1721
Source:
Wilcoxrealestatewa
Added: Oct 14
Changed: Oct 15
Last Checked: Oct 15 at 2:05AM
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 WILCOX REAL ESTATE
Investment Insights
Based on property information with market context.
This 2,168-square-foot triplex contains three independent living suites: one with six bedrooms and two bathrooms, plus two suites with three bedrooms and one bathroom each. Every suite has a kitchen and laundry. The property was renovated to the studs in 2017, and a new roof and sheathing are specified for 2026. Improvements include full insulation, updated plumbing lines, a tankless water heater, LVP and laminate flooring, and electric heat with individual thermostats. Furnishings are included, and the property is mostly occupied.
Outdoor and site features include a covered patio, fenced level backyard, storage shed, off-street parking for 10+ cars, and an EV hookup. Major commuter bus service and Pacific Lutheran University are within walking distance; SR-512 and I-5 provide routes toward JBLM, Tacoma, and Seattle.
Outdoor and site features include a covered patio, fenced level backyard, storage shed, off-street parking for 10+ cars, and an EV hookup. Major commuter bus service and Pacific Lutheran University are within walking distance; SR-512 and I-5 provide routes toward JBLM, Tacoma, and Seattle.
Key Highlights
- Three separate suites: one 6‑bed/2‑bath and two 3‑bed/1‑bath
- Each suite has its own kitchen and laundry
- 2,168 square feet; renovated to the studs in 2017
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,564
Cap Rate
3.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$571,280
$571.3K
Cap Rate 7%
$408,057
$408.1K
Cap Rate 9%
$317,378
$317.4K
Market Conditions
NOI Build-Up for 2,168 SF
Gross rent
$42.9K $19.80/SF
− Vacancy
−$2.1K −$0.98/SF
EGI
$40.8K $18.82/SF
− OpEx
−$12.2K −$5.65/SF
NOI
$28.6K $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%
$571,280
Cap Rate 7%
$408,057
Cap Rate 9%
$317,378
Alternative Uses
Best Use
Multifamily LT 5
$408.1K
$357.1K – $476.1K
NOI $28,564 @ 7.0% cap · market cap 3.81%
Second Best
Apartment 5plus
$354.6K
$310.3K – $413.7K
NOI $24,823 @ 7.0% cap · market cap 3.31%
Theoretical Best
Office A
$666.4K
$583.1K – $777.5K
NOI $46,647 @ 7.0% cap · market cap 6.23%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
740
Businesses Nearby
Explore this area
Business Placement
Demographics for 98444, WA
36,885
Population
13,762
Households
2.7
Avg Household Size
34
Median Age
15%
College-Educated
87%
High-School Grad
6.9 sq mi
ZIP Area
5,346
Density / Sq Mi
$64,464
Median Household Income
$39,829
Median Earnings
$1,581
Median Rent
$369,500
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
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Frequently Asked Questions
What type of property is this?
Triplex - Each residence has its own kitchen and laundry, with furnishings included in the sale.
Where is this triplex located?
The property is located at 11905 Park Ave S Tacoma, WA.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Three separate suites: one 6‑bed/2‑bath and two 3‑bed/1‑bath; Each suite has its own kitchen and laundry; 2,168 square feet; renovated to the studs in 2017
