Well-Maintained
For Sale
$684,000
3827 S K Street, Tacoma, WA 98418
Well-maintained triplex with three separately metered units and 100% occupancy.
Property Size3,120 SF
Price / SF$219.23
Days on Market136
Property Features for 3827 S K Street
General Information
Standard status
Active
Size
3,120 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Occupancy
100%
Net Operating Income
$44,809
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$6,923
Amenities
Yes
No
2
Electric
0.1104
Wood
Poured Concrete
3120
Building Details
Building Size
3,120 SF
Year Built
1910
Stories
2
Tenancy
Multi
Listing Agency:
Kingstar Realty Inc.
(503) 957-7981
Listed By:
Tim Jackson
(503) 957-7981
Source:
Premierepropertygroup
Added: Mar 31
Changed: Aug 12
Last Checked: Aug 13 at 3:31AM
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 Kingstar Realty Inc.
Investment Insights
Based on property information with market context.
This well-maintained triplex includes three residential units, each separately metered. The property is reported to have 100% occupancy, with rents noted as slightly below market.
The building is located in the heart of the Lincoln district, with access described as convenient for commuters and/or JBLM.
All units are under separate metering, supporting individual utility responsibility for each unit.
The building is located in the heart of the Lincoln district, with access described as convenient for commuters and/or JBLM.
All units are under separate metering, supporting individual utility responsibility for each unit.
Key Highlights
- Well‑maintained triplex with 100% occupancy
- Three units with separate electric metering (all three units metered separately)
- 2,312 SF building area on a 0.1104‑acre lot
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
$41,107
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
6.01%
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%
$822,140
$822.1K
Cap Rate 7%
$587,243
$587.2K
Cap Rate 9%
$456,744
$456.7K
Market Conditions
NOI Build-Up for 3,120 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
$61.8K $19.80/SF
− Vacancy
−$3.1K −$0.98/SF
EGI
$58.7K $18.82/SF
− OpEx
−$17.6K −$5.65/SF
NOI
$41.1K $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%
$822,140
Cap Rate 7%
$587,243
Cap Rate 9%
$456,744
Alternative Uses
Best Use
Multifamily LT 5
$587.2K
$513.8K – $685.1K
NOI $41,107 @ 7.0% cap · market cap 6.01%
Second Best
Apartment 5plus
$510.3K
$446.6K – $595.4K
NOI $35,724 @ 7.0% cap · market cap 5.22%
Theoretical Best
Office A
$959.0K
$839.1K – $1.12M
NOI $67,130 @ 7.0% cap · market cap 9.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
588
Businesses Nearby
Explore this area
Business Placement
Demographics for 98418, WA
10,371
Population
4,520
Households
2.3
Avg Household Size
37
Median Age
23%
College-Educated
89%
High-School Grad
1.7 sq mi
ZIP Area
6,101
Density / Sq Mi
$79,413
Median Household Income
$53,441
Median Earnings
$1,512
Median Rent
$385,300
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?
Triplex - Well-maintained triplex with three separately metered units and 100% occupancy.
Where is this triplex located?
The property is located at 3827 S K Street Tacoma, WA.
What is the asking price?
The asking price for this property is $684,000.
What are key features of this property?
This property features: Well‑maintained triplex with 100% occupancy; Three units with separate electric metering (all three units metered separately); 2,312 SF building area on a 0.1104‑acre lot
