Duplex With Updated
New
For Sale
$550,000
2349 S L St, Tacoma, WA 98405
Both residences feature renovated kitchens and refreshed interior finishes, with outdoor space and parking on site.
Property Size1,680 SF
Price / SF$327.38
Days on Market1
Property Features for 2349 S L St
General Information
Standard status
Active
Size
1,680 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Central
Public Transit
Yes
Additional Details
Multifamily Units
2
Amenities
fenced yard
Building Details
Year Built
1971
Buildings
1
Listing Agency:
Compass
Listed By:
Chris Murphy · License #111144
(360) 918-6497
Source:
Pugetsoundrealestate
Added: Oct 30
Last Checked: Oct 30 at 2:06PM
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
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Investment Insights
Based on property information with market context.
This 1,680-square-foot duplex, built in 1971, contains two residences with renovated kitchens, modern appliances, updated flooring, fresh paint, and replacement doors and trim. Building improvements include a new roof, updated plumbing, and Romex wiring. The grounds include a fully enclosed yard with mature landscaping, while alley access serves a two-car carport and additional off-street parking.
The property is near Tacoma Link light rail, shopping, dining, and local amenities. Its two-unit configuration combines updated interiors with on-site parking and outdoor space.
The property is near Tacoma Link light rail, shopping, dining, and local amenities. Its two-unit configuration combines updated interiors with on-site parking and outdoor space.
Key Highlights
- Two residential units in a 1,680‑square‑foot duplex
- Built in 1971
- Renovated kitchens, modern appliances, updated flooring, fresh paint, and new doors and trim
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,135
Cap Rate
4.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$442,700
$442.7K
Cap Rate 7%
$316,214
$316.2K
Cap Rate 9%
$245,944
$245.9K
Market Conditions
NOI Build-Up for 1,680 SF
Gross rent
$33.3K $19.80/SF
− Vacancy
−$1.6K −$0.98/SF
EGI
$31.6K $18.82/SF
− OpEx
−$9.5K −$5.65/SF
NOI
$22.1K $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%
$442,700
Cap Rate 7%
$316,214
Cap Rate 9%
$245,944
Alternative Uses
Best Use
Multifamily LT 5
$316.2K
$276.7K – $368.9K
NOI $22,135 @ 7.0% cap · market cap 4.02%
Second Best
Apartment 5plus
$274.8K
$240.5K – $320.6K
NOI $19,236 @ 7.0% cap · market cap 3.50%
Theoretical Best
Office A
$516.4K
$451.8K – $602.5K
NOI $36,147 @ 7.0% cap · market cap 6.57%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,741
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
Frequently Asked Questions
What type of property is this?
Duplex - Both residences feature renovated kitchens and refreshed interior finishes, with outdoor space and parking on site.
Where is this duplex located?
The property is located at 2349 S L St Tacoma, WA.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Two residential units in a 1,680‑square‑foot duplex; Built in 1971; Renovated kitchens, modern appliances, updated flooring, fresh paint, and new doors and trim
