Rebuilt Duplex with Modern
For Sale
$625,000
1410 6th Ave, Tacoma, WA 98405
Two leased residences feature updated systems, independent HVAC, in-unit laundry, and contemporary interiors near Tacoma institutions and amenities.
Property Size1,557 SF
Price / SF$401.41
Days on Market37
Property Features for 1410 6th Ave
General Information
Standard status
Active
Size
1,557 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Average Monthly Rent
$1,500
Multifamily Units
2
Amenities
in-unit laundry
mini-split HVAC
landscaping
Building Details
Year Built
1900
Year Renovated
2024
Buildings
1
Listing Agency:
Compass
(360) 918-6497
Listed By:
Chris Murphy · License #111144
(360) 918-6497
Source:
Pugetsoundrealestate
Added: Jul 26
Changed: Aug 29
Last Checked: Aug 30 at 4:02PM
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 two-unit property at 1410 6th Ave combines a 1900-built structure with a comprehensive 2024 rebuild. The upper and lower residences total 1,557 square feet and have separate layouts, contemporary finishes, LVP flooring, stainless steel appliances, and stackable laundry within each unit. Independent mini-split heating and air conditioning serves both homes, while additional work addressed the roof, windows, siding, insulation, electrical, plumbing, and landscaping.
Both units are currently leased. The property is located minutes from the University of Washington Tacoma, University of Puget Sound, Tacoma Community College, MultiCare and Virginia Mason Franciscan hospitals, downtown Tacoma, shopping, dining, parks, and major commuter routes.
Both units are currently leased. The property is located minutes from the University of Washington Tacoma, University of Puget Sound, Tacoma Community College, MultiCare and Virginia Mason Franciscan hospitals, downtown Tacoma, shopping, dining, parks, and major commuter routes.
Key Highlights
- Comprehensively rebuilt in 2024 with major systems and finishes replaced
- Duplex totals 1,557 square feet across upper and lower units
- Separate mini‑split HVAC systems serve each residence
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
$20,514
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
3.28%
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%
$410,280
$410.3K
Cap Rate 7%
$293,057
$293.1K
Cap Rate 9%
$227,933
$227.9K
Market Conditions
NOI Build-Up for 1,557 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
$30.8K $19.80/SF
− Vacancy
−$1.5K −$0.98/SF
EGI
$29.3K $18.82/SF
− OpEx
−$8.8K −$5.65/SF
NOI
$20.5K $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%
$410,280
Cap Rate 7%
$293,057
Cap Rate 9%
$227,933
Alternative Uses
Best Use
Multifamily LT 5
$293.1K
$256.4K – $341.9K
NOI $20,514 @ 7.0% cap · market cap 3.28%
Second Best
Apartment 5plus
$254.7K
$222.9K – $297.1K
NOI $17,828 @ 7.0% cap · market cap 2.85%
Theoretical Best
Office A
$478.6K
$418.8K – $558.3K
NOI $33,500 @ 7.0% cap · market cap 5.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
3,248
Businesses Nearby
Explore this area
Business Placement
Demographics for 98405, WA
24,617
Population
11,645
Households
2.1
Avg Household Size
37
Median Age
31%
College-Educated
94%
High-School Grad
4.1 sq mi
ZIP Area
6,004
Density / Sq Mi
$80,024
Median Household Income
$51,028
Median Earnings
$1,480
Median Rent
$443,800
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?
Duplex - Two leased residences feature updated systems, independent HVAC, in-unit laundry, and contemporary interiors near Tacoma institutions and amenities.
Where is this duplex located?
The property is located at 1410 6th Ave Tacoma, WA.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Comprehensively rebuilt in 2024 with major systems and finishes replaced; Duplex totals 1,557 square feet across upper and lower units; Separate mini‑split HVAC systems serve each residence
