Updated Quadplex with On-Site
For Sale
$799,950
4028 S Lawrence St, Tacoma, WA 98409
Three units currently produce rental income, with one additional unit available for lease.
Property Size3,328 SF
Price / SF$240.37
Days on Market87
Property Features for 4028 S Lawrence St
General Information
Standard status
Active
Size
3,328 SF
Property subtype
Multi-Family
Occupancy
75%
Additional Details
Multifamily Units
4
Building Details
Year Built
1974
Listing Agency:
Pellego, Inc.
Listed By:
Bao Phung · License #NWM54509
Source:
Searchhomesinbellingham
Added: Jul 29
Changed: Oct 21
Last Checked: Oct 23 at 7:40AM
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 Pellego, Inc.
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Investment Insights
Based on property information with market context.
This 4-unit multifamily property contains 3,328 square feet and was built in 1974. The units have been updated, with three currently rented and one available for lease. On-site parking serves the property and provides a practical feature for residents.
Located at 4028 S Lawrence Street in Tacoma, the property is near shopping, dining, parks, schools, employment, and major roadways. The existing occupancy and available unit create a straightforward operating profile for a buyer seeking a small residential income property.
Located at 4028 S Lawrence Street in Tacoma, the property is near shopping, dining, parks, schools, employment, and major roadways. The existing occupancy and available unit create a straightforward operating profile for a buyer seeking a small residential income property.
Key Highlights
- 4‑unit multifamily property with 3,328 square feet
- 3 of 4 units are currently rented
- One unit is available for lease
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,847
Cap Rate
5.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$876,940
$876.9K
Cap Rate 7%
$626,386
$626.4K
Cap Rate 9%
$487,189
$487.2K
Market Conditions
NOI Build-Up for 3,328 SF
Gross rent
$65.9K $19.80/SF
− Vacancy
−$3.3K −$0.98/SF
EGI
$62.6K $18.82/SF
− OpEx
−$18.8K −$5.65/SF
NOI
$43.8K $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%
$876,940
Cap Rate 7%
$626,386
Cap Rate 9%
$487,189
Alternative Uses
Best Use
Multifamily LT 5
$626.4K
$548.1K – $730.8K
NOI $43,847 @ 7.0% cap · market cap 5.48%
Second Best
Apartment 5plus
$544.4K
$476.3K – $635.1K
NOI $38,105 @ 7.0% cap · market cap 4.76%
Theoretical Best
Office A
$1.02M
$895.1K – $1.19M
NOI $71,605 @ 7.0% cap · market cap 8.95%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
75%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,250
Businesses Nearby
Explore this area
Business Placement
Demographics for 98409, WA
27,840
Population
12,136
Households
2.3
Avg Household Size
33
Median Age
21%
College-Educated
87%
High-School Grad
7.1 sq mi
ZIP Area
3,921
Density / Sq Mi
$71,649
Median Household Income
$43,652
Median Earnings
$1,579
Median Rent
$363,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Three units currently produce rental income, with one additional unit available for lease.
Where is this quadplex located?
The property is located at 4028 S Lawrence 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 multifamily property with 3,328 square feet; 3 of 4 units are currently rented; One unit is available for lease
