Renovated Apartment
New
For Sale
$2,000,000
1411 S Union Ave, Tacoma, WA 98405
Updated multifamily property with in-unit laundry expansion potential and a detached structure that may support additional residences.
Property SizeContact for details
Days on Market7
Property Features for 1411 S Union Ave
General Information
Standard status
Active
Property subtype
Multifamily
Occupancy
95%
Amenities
Strong in-place returns: 6.3%+ going-in cap rate delivers immediate, stable cash flow from day one, backed by a 12-unit, well-balanced 1-, 2-, and 3-bedroom mix.
Reduced capex risk: Major upgrades already completed (new roofs, decks, electrical service, exterior paint), so a buyer isn't inheriting deferred maintenance.
Multiple value-add paths: In-unit washer/dryer installs offer rent upside, plus architect-tested potential to convert the laundry/storage building into 1-2 additional units.
Building Details
Units
12
Listing Agency:
MARCUS & MILLICHAP, INC.
Listed By:
Kellan Moll · License #License(s): WA: 111361
(206) 826-5692
Source:
Marcusmillichap
Added: Sep 16
Last Checked: Sep 21 at 3:39AM
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 MARCUS & MILLICHAP, INC.
Investment Insights
Based on property information with market context.
Union Green is a substantially renovated apartment property at 1411 S Union Ave in Tacoma, Washington. The asset includes two three-bedroom apartments with in-unit laundry, along with two two-bedroom units where washer and dryer hookups were recently added. Eight additional units remain without in-unit laundry, creating an identified opportunity to extend the program. The property is currently operating at a 6.32% cap rate.
A detached building on the east side serves as the community laundry and storage facility. Preliminary architectural planning evaluated converting part or all of that structure into housing: one 434-square-foot one-bedroom apartment could be created while retaining laundry space, or the building could be reconfigured into two approximately 280-square-foot studios. An additional electrical panel has already been installed to support a future conversion.
A detached building on the east side serves as the community laundry and storage facility. Preliminary architectural planning evaluated converting part or all of that structure into housing: one 434-square-foot one-bedroom apartment could be created while retaining laundry space, or the building could be reconfigured into two approximately 280-square-foot studios. An additional electrical panel has already been installed to support a future conversion.
Key Highlights
- Substantially renovated multifamily property in Tacoma
- Current 6.32% cap rate
- Two three‑bedroom units include in‑unit laundry
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,707
Businesses Nearby
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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
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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?
Apartment building - Updated multifamily property with in-unit laundry expansion potential and a detached structure that may support additional residences.
Where is this apartment building located?
The property is located at 1411 S Union Ave Tacoma, WA.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Substantially renovated multifamily property in Tacoma; Current 6.32% cap rate; Two three‑bedroom units include in‑unit laundry
