Move-In-Ready Triplex with
6909 S Madison Tacoma, WA 98409
6909 S Madison, Tacoma, WA, 98409
$665,000
For Sale
$665,000
One-story triplex with three 2-bed, 1.5-bath units, each with washer/dryer hookups and dedicated storage.
Property Size2,652 SF
Price / SF$250.75
Days on Market193
Property Features for 6909 S Madison
General Information
- Standard status
- Active
- Size
- 2,652 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1978
Listing agency
Lee & Associates Commercial RE
(503) 869-3513
Listed by
Jeffry D Wiren · License #200405349
(503) 869-3513
Source
Premierepropertygroup
Added: Jan 9 Updated: Jul 21 at 12:38AM Checked: Jul 21 at 3:12AM
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 Lee & Associates Commercial RE
Investment Insights
Based on property information with market context.
Rare one-story triplex in Tacoma featuring three 2-bedroom, 1.5-bath units. Each unit includes washer/dryer hookups, and the property offers carport parking with dedicated storage for each unit. Recent improvements include a new roof and gutters, along with interior updates throughout. A move-in-ready unit provides flexibility for an owner-occupant or an investor.
The property at 6909 S Madison is positioned in a highly convenient Tacoma area, with access to I-5 and SR-512, along with transit, schools, and Tacoma Mall, plus proximity to a golf course. An identical adjacent triplex at 6909 Madison is also available, allowing the option to acquire one or both properties.
Overall, this is a well-maintained income-producing residential triplex configuration with practical on-site parking and unit-level storage.
The property at 6909 S Madison is positioned in a highly convenient Tacoma area, with access to I-5 and SR-512, along with transit, schools, and Tacoma Mall, plus proximity to a golf course. An identical adjacent triplex at 6909 Madison is also available, allowing the option to acquire one or both properties.
Overall, this is a well-maintained income-producing residential triplex configuration with practical on-site parking and unit-level storage.
Key Highlights
- One‑story triplex totaling 2,652 SF with three 2‑bed, 1.5‑bath units
- Each unit has washer/dryer hookup and dedicated storage, plus carport parking
- Fenced lot on a 54x167 lot size (0.21 acres) with poured concrete foundation
Local Financial Insights For Multifamily LT 5
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 | $52.5k | $19.80 |
| − Vacancy | −$2.6k | −$0.98 |
| EGI | $49.9k | $18.82 |
| − OpEx | −$15.0k | −$5.65 |
| NOI | $34.9k | $13.18 |
2,652 SF · lease $19.80/SF/yr · vacancy 4.94% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$499.2K
$436.8K – $582.4K
NOI $34,941 @ 7.0% cap · market cap 5.25%
Second Best
Apartment 5plus
$433.8K
$379.6K – $506.1K
NOI $30,365 @ 7.0% cap · market cap 4.57%
Theoretical Best
Office A
$815.1K
$713.3K – $951.0K
NOI $57,060 @ 7.0% cap · market cap 8.58%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - One-story triplex with three 2-bed, 1.5-bath units, each with washer/dryer hookups and dedicated storage.
Where is this triplex located?
The property is located at 6909 S Madison Tacoma, WA.
What is the asking price?
The asking price for this property is $665,000.
What are key features of this property?
This property features: One‑story triplex totaling 2,652 SF with three 2‑bed, 1.5‑bath units; Each unit has washer/dryer hookup and dedicated storage, plus carport parking; Fenced lot on a 54x167 lot size (0.21 acres) with poured concrete foundation
