4-Unit Quadplex with Private
For Sale
$799,950
3572 3574 E F St, Tacoma, WA 98404
Four-unit income property with varied unit mix, off-street parking, storage, and coin-operated laundry.
Property Size3,424 SF
Price / SF$233.63
Days on Market27
Property Features for 3572 3574 E F St
General Information
Standard status
Active
Size
3,424 SF
Total Parking Spaces
12
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 2BR/1BA, 2 x 1BR/1BA
Multifamily Units
4
Amenities
private decks
coin operated laundry
storage units
Building Details
Year Built
1904
Listing Agency:
Theory Real Estate
(253) 537-4663
Listed By:
Ronald Dudley
Source:
Montgomeryht
Added: Aug 3
Changed: Aug 29
Last Checked: Aug 29 at 11:35AM
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 Theory Real Estate
Investment Insights
Based on property information with market context.
This 4-unit quadplex contains two 2-bedroom, 1-bath residences and two 1-bedroom, 1-bath residences, with each unit measuring about 850+ SF. The property includes approximately 3,424 SF, private decks serving the upstairs units, and updates to select paint, flooring, kitchens, bathrooms, and grounds. Five storage units measuring approximately 10x10 provide additional on-site capacity, while coin-operated laundry serves residents and supports an additional income stream.
Located at 3572 3574 E F St in Tacoma, the property offers off-street alley parking for about 12 cars serving tenants and guests. The address is minutes from freeway access, downtown Tacoma, bus and train stations, shopping, entertainment, and food services. The property was built in 1904 and is Section 8 approved.
Located at 3572 3574 E F St in Tacoma, the property offers off-street alley parking for about 12 cars serving tenants and guests. The address is minutes from freeway access, downtown Tacoma, bus and train stations, shopping, entertainment, and food services. The property was built in 1904 and is Section 8 approved.
Key Highlights
- 4‑unit property with two 2‑bedroom and two 1‑bedroom residences
- Each unit is about 850+ SF; total property size is 3424 SF
- Private decks serve both upstairs units
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
$45,112
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
5.64%
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%
$902,240
$902.2K
Cap Rate 7%
$644,457
$644.5K
Cap Rate 9%
$501,244
$501.2K
Market Conditions
NOI Build-Up for 3,424 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
$67.8K $19.80/SF
− Vacancy
−$3.3K −$0.98/SF
EGI
$64.4K $18.82/SF
− OpEx
−$19.3K −$5.65/SF
NOI
$45.1K $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 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%
$902,240
Cap Rate 7%
$644,457
Cap Rate 9%
$501,244
Alternative Uses
Best Use
Multifamily LT 5
$644.5K
$563.9K – $751.9K
NOI $45,112 @ 7.0% cap · market cap 5.64%
Second Best
Apartment 5plus
$560.1K
$490.1K – $653.4K
NOI $39,205 @ 7.0% cap · market cap 4.90%
Theoretical Best
Office A
$1.05M
$920.9K – $1.23M
NOI $73,671 @ 7.0% cap · market cap 9.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
544
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?
Quadplex - Four-unit income property with varied unit mix, off-street parking, storage, and coin-operated laundry.
Where is this quadplex located?
The property is located at 3572 3574 E F St Tacoma, WA.
What is the asking price?
The asking price for this property is $799,950.
What are key features of this property?
This property features: 4‑unit property with two 2‑bedroom and two 1‑bedroom residences; Each unit is about 850+ SF; total property size is 3424 SF; Private decks serve both upstairs units
