Historic Six-Unit Victorian
404 Tacoma Ave Tacoma, WA 98403
For Sale
$1,000,000
Pending
Six one-bedroom apartments in a Victorian building built in 1890, with on-site laundry, storage, and rear carport parking.
Property Size3,600 SF
Days on Market29
Property Features for 404 Tacoma Ave
General Information
- Standard status
- Pending
- Size
- 3,600 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1890
Listing Agency:
BLAKE INVESTMENT ADVISORS
Listed By:
GABE BLAKE
Source:
Corcoran
Added: Jun 26
Changed: Jul 23
Last Checked: Jul 23 at 10:13AM
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 BLAKE INVESTMENT ADVISORS
Investment Insights
Based on property information with market context.
The Stadium District Victorian Apartments is a historic six-unit property constructed in 1890, offering six one-bedroom apartment homes averaging approximately 600 square feet. The building includes access to a common on-site laundry room, six private storage lockers, and a five-car carport located at the rear of the property. All units are currently occupied.
The property is offered for sale with the note that it has been owned and cared for by the same family since 1956, and is reportedly on the market for the first time in 70 years. It is located at 404 Tacoma Ave in Tacoma’s Stadium District.
Tenants are in place, and the listing advises not to disturb residents.
The property is offered for sale with the note that it has been owned and cared for by the same family since 1956, and is reportedly on the market for the first time in 70 years. It is located at 404 Tacoma Ave in Tacoma’s Stadium District.
Tenants are in place, and the listing advises not to disturb residents.
Key Highlights
- Six one‑bedroom apartments in a Victorian building constructed in 1890
- All six units are currently occupied
- Approx. 600 SF average per unit
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $79.1k | $21.96 |
| − Vacancy | −$4.1k | −$1.14 |
| EGI | $74.9k | $20.82 |
| − OpEx | −$33.7k | −$9.37 |
| NOI | $41.2k | $11.45 |
3,600 SF · lease $21.96/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$588.9K
$515.3K – $687.0K
NOI $41,220 @ 7.0% cap · market cap 4.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.11M
$968.2K – $1.29M
NOI $77,458 @ 7.0% cap · market cap 7.75%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Six one-bedroom apartments in a Victorian building built in 1890, with on-site laundry, storage, and rear carport parking.
Where is this apartment building located?
The property is located at 404 Tacoma Ave Tacoma, WA.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Six one‑bedroom apartments in a Victorian building constructed in 1890; All six units are currently occupied; Approx. 600 SF average per unit
