Improved Two-Unit
2346 Fawcett Avenue, Tacoma, WA 98402
For Sale
$524,700
Two updated apartments share laundry, with gated off-street parking and access to Tacoma’s central employment, dining, and transit connections.
Property Size1,989 SF
Days on Market60
Property Features for 2346 Fawcett Avenue
General Information
Standard status
Size
Property subtype
Net Operating Income
Site & Location
Neighborhood
Taxes and HOA fees
Annual Taxes
Amenities
Seller intends to review offers upon receipt
Thermal Windows
Multi-Family, Residential
TPU
Cable TV, Fenced-Fully, High Speed Internet, RV Parking
Very Good
1967
Electric
no
yes
Public Records
Vinyl, Vinyl Plank, Carpet
2
Square Feet
Composition
Sewer Connected
52 - Duplex
Alley, Curbs, Paved, Sidewalk
Public
Duplex
Feet
RV Parking
Wood
false
Pillar/Post/Pier
Realist
4622
6000
Building Details
Building Size
Year Built
Listed By:
Multifamily Properties
(206) 250-6961
Source:
Multifamilymomentum.idxbroker
Added: Sep 16
Changed: Nov 9
Last Checked: Nov 14 at 2:11AM
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 Multifamily Properties
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Investment Insights
Based on property information with market context.
This duplex contains two 2-bedroom, 1-bath apartments within 1989 square feet. Both units have access to shared laundry, and the property includes gated off-street parking. Recent work includes a new roof, exterior painting, a remodel of the lower unit, and a new alley gate. The building was constructed in 1905 and offers city and territorial views.
Located near central Tacoma, the property provides access to Downtown, UW Tacoma, employment centers, dining, and public transportation. E9 Brewing and Redd Dog Brewing are on the same street, while nearby transit serves connections throughout Tacoma and the South Sound. The main-level unit is leased through October 1, 2026, and the upstairs unit is month-to-month.
Located near central Tacoma, the property provides access to Downtown, UW Tacoma, employment centers, dining, and public transportation. E9 Brewing and Redd Dog Brewing are on the same street, while nearby transit serves connections throughout Tacoma and the South Sound. The main-level unit is leased through October 1, 2026, and the upstairs unit is month-to-month.
Key Highlights
- Two 2‑bedroom, 1‑bath apartments with shared laundry access
- 1989 square feet in a duplex built in 1905
- Recent improvements include a new roof, exterior paint, and lower‑unit remodel
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,206
Cap Rate
4.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$524,120
$524.1K
Cap Rate 7%
$374,371
$374.4K
Cap Rate 9%
$291,178
$291.2K
Market Conditions
NOI Build-Up for 1,989 SF
Gross rent
$39.4K $19.80/SF
− Vacancy
−$1.9K −$0.98/SF
EGI
$37.4K $18.82/SF
− OpEx
−$11.2K −$5.65/SF
NOI
$26.2K $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%
$524,120
Cap Rate 7%
$374,371
Cap Rate 9%
$291,178
Alternative Uses
Best Use
Multifamily LT 5
$374.4K
$327.6K – $436.8K
NOI $26,206 @ 7.0% cap · market cap 4.99%
Second Best
Apartment 5plus
$325.3K
$284.7K – $379.6K
NOI $22,774 @ 7.0% cap · market cap 4.34%
Theoretical Best
Office A
$611.4K
$534.9K – $713.3K
NOI $42,795 @ 7.0% cap · market cap 8.16%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
2,207
Businesses Nearby
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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
$558,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Duplexes in Pierce County, WA
Properties on Market for Duplexes in Pierce County
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Two updated apartments share laundry, with gated off-street parking and access to Tacoma’s central employment, dining, and transit connections.
Where is this duplex located?
The property is located at 2346 Fawcett Avenue Tacoma, WA.
What is the asking price?
The asking price for this property is $524,700.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bath apartments with shared laundry access; 1989 square feet in a duplex built in 1905; Recent improvements include a new roof, exterior paint, and lower‑unit remodel
