Zero-Lot-Line
For Sale
$679,999
1608 1610 E 34th Street B, Tacoma, WA 98404
Each residence includes three bedrooms and two-and-a-half baths.
Property Size2,552 SF
Price / SF$266.46
Days on Market44
Property Features for 1608 1610 E 34th Street B
General Information
Standard status
Active
Size
2,552 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
some sweat equity
Units
Unit Mix
2 x 3BR/2.5BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Year Built
2006
Buildings
1
Listing Agency:
Red Moon Realty
(253) 224-9833
Listed By:
Dan Wong
Source:
Montgomeryht
Added: Jul 20
Changed: Aug 30
Last Checked: Aug 31 at 7:11PM
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 Red Moon Realty
Investment Insights
Based on property information with market context.
This duplex contains 2,552 square feet and was built in 2006. Each residence is configured with three bedrooms and two-and-a-half bathrooms. The units sit back-to-back in a zero-lot-line arrangement, creating two separate residential interiors within the duplex structure.
The property is located at 1608–1610 E 34th Street B in Tacoma, Washington. Regional access includes I-5, Hwy-16, and Hwy 167, with Tacoma Mall and EQC casino also identified in the surrounding area. The offering represents one duplex; separate units identified as 1608–1610A are excluded from the sale.
The property is located at 1608–1610 E 34th Street B in Tacoma, Washington. Regional access includes I-5, Hwy-16, and Hwy 167, with Tacoma Mall and EQC casino also identified in the surrounding area. The offering represents one duplex; separate units identified as 1608–1610A are excluded from the sale.
Key Highlights
- 2,552‑SF duplex at 1608 1610 E 34th Street B, Tacoma, WA 98404
- Built in 2006
- Each unit offers 3 bedrooms and 2.5 baths
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
$33,623
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
4.94%
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%
$672,460
$672.5K
Cap Rate 7%
$480,329
$480.3K
Cap Rate 9%
$373,589
$373.6K
Market Conditions
NOI Build-Up for 2,552 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
$50.5K $19.80/SF
− Vacancy
−$2.5K −$0.98/SF
EGI
$48.0K $18.82/SF
− OpEx
−$14.4K −$5.65/SF
NOI
$33.6K $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 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%
$672,460
Cap Rate 7%
$480,329
Cap Rate 9%
$373,589
Alternative Uses
Best Use
Multifamily LT 5
$480.3K
$420.3K – $560.4K
NOI $33,623 @ 7.0% cap · market cap 4.94%
Second Best
Apartment 5plus
$417.4K
$365.3K – $487.0K
NOI $29,220 @ 7.0% cap · market cap 4.30%
Theoretical Best
Office A
$784.4K
$686.4K – $915.2K
NOI $54,909 @ 7.0% cap · market cap 8.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
90
Businesses Nearby
Explore this area
Business Placement
Demographics for 98404, WA
35,172
Population
13,174
Households
2.7
Avg Household Size
35
Median Age
21%
College-Educated
84%
High-School Grad
7.1 sq mi
ZIP Area
4,954
Density / Sq Mi
$79,562
Median Household Income
$41,977
Median Earnings
$1,440
Median Rent
$387,300
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 - Each residence includes three bedrooms and two-and-a-half baths.
Where is this duplex located?
The property is located at 1608 1610 E 34th Street B Tacoma, WA.
What is the asking price?
The asking price for this property is $679,999.
What are key features of this property?
This property features: 2,552‑SF duplex at 1608 1610 E 34th Street B, Tacoma, WA 98404; Built in 2006; Each unit offers 3 bedrooms and 2.5 baths
