Four-Unit Townhome-Style
New
For Sale
$1,399,900
4560 S Puget Sound Avenue, Tacoma, WA 98409
Well-maintained multifamily property with private-feeling layouts, individual garages, and separately metered utilities.
Property Size4,936 SF
Price / SF$283.61
Days on Market2
Property Features for 4560 S Puget Sound Avenue
General Information
Standard status
Active
Size
4,936 SF
Total Parking Spaces
8
Property subtype
Multi-Family
Net Operating Income
$91,816
Units
Unit Mix
4 x 3BR/1.75BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$10,734
Amenities
Ceramic Tile,Vinyl,Vinyl Plank,Carpet
Yes
No
2
Electric
Curbs,Paved,Sidewalk
Public
Cable TV,High Speed Internet
8
4
0.1244
Cement Planked
Poured Concrete
4936
Building Details
Building Size
4,936 SF
Year Built
2006
Stories
2
Listing Agency:
Terrafin
(503) 716-8644
Listed By:
Amin Allison
(503) 780-7342
Source:
Premierepropertygroup
Added: Sep 16
Last Checked: Sep 16 at 2:12PM
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 Terrafin
Investment Insights
Based on property information with market context.
Built in 2006, this 4,936-square-foot quadplex contains four spacious units, each with 3 bedrooms and 1.75 bathrooms. The townhome-style layout gives each residence only one shared wall, while attached one-car garages provide dedicated parking. Interior finishes include ceramic tile, vinyl, vinyl plank, and carpet, with electric heating or service noted in the property features.
A new roof was installed in 2025. Separate utility metering allows residents to cover their own utility usage, while the property’s stated owner expenses are primarily insurance and property taxes. The site includes paved access, curbs, and sidewalks, and is positioned near shopping, dining, schools, and major commuter routes in Tacoma.
A new roof was installed in 2025. Separate utility metering allows residents to cover their own utility usage, while the property’s stated owner expenses are primarily insurance and property taxes. The site includes paved access, curbs, and sidewalks, and is positioned near shopping, dining, schools, and major commuter routes in Tacoma.
Key Highlights
- 4,936‑square‑foot quadplex with four units
- Each unit includes 3 bedrooms and 1.75 bathrooms
- Attached one‑car garage provided for every unit
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
$65,033
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
4.65%
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%
$1,300,660
$1.3M
Cap Rate 7%
$929,043
$929.0K
Cap Rate 9%
$722,589
$722.6K
Market Conditions
NOI Build-Up for 4,936 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
$97.7K $19.80/SF
− Vacancy
−$4.8K −$0.98/SF
EGI
$92.9K $18.82/SF
− OpEx
−$27.9K −$5.65/SF
NOI
$65.0K $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%
$1,300,660
Cap Rate 7%
$929,043
Cap Rate 9%
$722,589
Alternative Uses
Best Use
Multifamily LT 5
$929.0K
$812.9K – $1.08M
NOI $65,033 @ 7.0% cap · market cap 4.65%
Second Best
Apartment 5plus
$807.4K
$706.5K – $942.0K
NOI $56,517 @ 7.0% cap · market cap 4.04%
Theoretical Best
Office A
$1.52M
$1.33M – $1.77M
NOI $106,203 @ 7.0% cap · market cap 7.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,049
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Well-maintained multifamily property with private-feeling layouts, individual garages, and separately metered utilities.
Where is this quadplex located?
The property is located at 4560 S Puget Sound Avenue Tacoma, WA.
What is the asking price?
The asking price for this property is $1,399,900.
What are key features of this property?
This property features: 4,936‑square‑foot quadplex with four units; Each unit includes 3 bedrooms and 1.75 bathrooms; Attached one‑car garage provided for every unit
