Remodeled Tenant-Occupied
For Sale
$500,000
404 S Division Ln, Tacoma, WA 98418
Two updated units are currently tenant-occupied near shops, restaurants, schools, parks, and transit.
Property Size1,700 SF
Price / SF$294.12
Days on Market78
Property Features for 404 S Division Ln
General Information
Standard status
Active
Size
1,700 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
South End
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Building Details
Year Built
1963
Listing Agency:
WA Move Real Estate LLC
Listed By:
Timothy Alan Kemp
(503) 836-2010
Source:
Katrinahalterman
Added: Aug 12
Changed: Oct 25
Last Checked: Oct 7 at 3:38PM
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 WA Move Real Estate LLC
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Investment Insights
Based on property information with market context.
This duplex contains two units that have been remodeled and updated. Both are currently occupied by tenants, and the property generates rental income. The two-unit configuration provides a straightforward residential income property profile without relying on additional improvements or expansion details.
Access to Pacific Avenue and I-5 connects the property with nearby neighborhood-serving retail and restaurants. Lincoln High is also in the surrounding area, along with local parks, schools, and transit connections that support everyday convenience for residents.
Access to Pacific Avenue and I-5 connects the property with nearby neighborhood-serving retail and restaurants. Lincoln High is also in the surrounding area, along with local parks, schools, and transit connections that support everyday convenience for residents.
Key Highlights
- Two‑unit duplex with freshly remodeled and updated interiors
- Both units are currently tenant‑occupied and generate rental income
- Quick access to Pacific Avenue and I‑5
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,398
Cap Rate
4.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$447,960
$448.0K
Cap Rate 7%
$319,971
$320.0K
Cap Rate 9%
$248,867
$248.9K
Market Conditions
NOI Build-Up for 1,700 SF
Gross rent
$33.7K $19.80/SF
− Vacancy
−$1.7K −$0.98/SF
EGI
$32.0K $18.82/SF
− OpEx
−$9.6K −$5.65/SF
NOI
$22.4K $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%
$447,960
Cap Rate 7%
$319,971
Cap Rate 9%
$248,867
Alternative Uses
Best Use
Multifamily LT 5
$320.0K
$280.0K – $373.3K
NOI $22,398 @ 7.0% cap · market cap 4.48%
Second Best
Apartment 5plus
$278.1K
$243.3K – $324.4K
NOI $19,465 @ 7.0% cap · market cap 3.89%
Theoretical Best
Office A
$522.5K
$457.2K – $609.6K
NOI $36,577 @ 7.0% cap · market cap 7.32%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
800
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Two updated units are currently tenant-occupied near shops, restaurants, schools, parks, and transit.
Where is this duplex located?
The property is located at 404 S Division Ln Tacoma, WA.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Two‑unit duplex with freshly remodeled and updated interiors; Both units are currently tenant‑occupied and generate rental income; Quick access to Pacific Avenue and I‑5
