Single-Level Quadplex with
For Sale
$799,950
5002 58th St, Tacoma, WA 98409
Four matching apartments include kitchen appliances, laundry hookups, and dedicated exterior storage areas.
Property Size3,500 SF
Price / SF$228.56
Days on Market104
Property Features for 5002 58th St
General Information
Standard status
Active
Size
3,500 SF
Property subtype
Commercial
Building Details
Year Built
1977
Listing Agency:
JOHN L. SCOTT REAL ESTATE
(360) 951-1100
Listed By:
PAUL COLDIRON · License #87116
Source:
Corcoran
Added: May 21
Changed: Aug 30
Last Checked: Aug 31 at 5:31PM
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 JOHN L. SCOTT REAL ESTATE
Investment Insights
Based on property information with market context.
This single-level quadplex contains four matching apartments within approximately 3,500 square feet. Each unit offers two bedrooms, one bathroom, 875 square feet, a full set of kitchen appliances, and washer and dryer hookups. Exterior storage areas are available for each tenant. The property was built in 1977, and the roof is less than 5 years old. Landlord improvements have been completed in some units, while other units have additional improvement potential.
The building occupies a corner lot in a dead-end neighborhood at 5002 58th St in Tacoma, Washington. Current rents range from $1,495 to $1,550, and the property is reported at a 6.6% cap rate.
The building occupies a corner lot in a dead-end neighborhood at 5002 58th St in Tacoma, Washington. Current rents range from $1,495 to $1,550, and the property is reported at a 6.6% cap rate.
Key Highlights
- Four‑unit quadplex with 3,500 square feet total
- Each apartment measures 875 sq ft with 2 beds and 1 bath
- Kitchen appliances and washer/dryer hookups in 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
$46,114
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
5.76%
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%
$922,280
$922.3K
Cap Rate 7%
$658,771
$658.8K
Cap Rate 9%
$512,378
$512.4K
Market Conditions
NOI Build-Up for 3,500 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
$69.3K $19.80/SF
− Vacancy
−$3.4K −$0.98/SF
EGI
$65.9K $18.82/SF
− OpEx
−$19.8K −$5.65/SF
NOI
$46.1K $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%
$922,280
Cap Rate 7%
$658,771
Cap Rate 9%
$512,378
Alternative Uses
Best Use
Multifamily LT 5
$658.8K
$576.4K – $768.6K
NOI $46,114 @ 7.0% cap · market cap 5.76%
Second Best
Apartment 5plus
$572.5K
$500.9K – $667.9K
NOI $40,075 @ 7.0% cap · market cap 5.01%
Theoretical Best
Office A
$1.08M
$941.3K – $1.26M
NOI $75,306 @ 7.0% cap · market cap 9.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
408
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four matching apartments include kitchen appliances, laundry hookups, and dedicated exterior storage areas.
Where is this quadplex located?
The property is located at 5002 58th 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: Four‑unit quadplex with 3,500 square feet total; Each apartment measures 875 sq ft with 2 beds and 1 bath; Kitchen appliances and washer/dryer hookups in every unit
