Furnished Three-Unit
For Sale
$1,100,000
723 S Sheridan Avenue, Tacoma, WA 98405
Each residence offers three bedrooms, one bathroom, in-unit laundry, and furnishings for tenant use.
Property Size2,624 SF
Price / SF$419.21
Days on Market25
Property Features for 723 S Sheridan Avenue
General Information
Standard status
Active
Size
2,624 SF
Property subtype
Multi Family
Site & Location
Neighborhood
Central
Units
Unit Mix
3 x 3BR/1BA
Multifamily Units
3
Additional Details
Furnished
Yes
Tenant in Place
Yes
Amenities
in-unit washer/dryer
street parking
Building Details
Year Built
1923
Buildings
1
Listing Agency:
Windermere RE West Sound Inc.
(360) 692-6102
Listed By:
Rebecca Johnson · License #134978
(253) 227-8579
Source:
Dalewalters
Added: Oct 13
Changed: Nov 5
Last Checked: Nov 6 at 7:06AM
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 Windermere RE West Sound Inc.
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Investment Insights
Based on property information with market context.
This 2,624-square-foot triplex contains three furnished residences, each configured with three bedrooms and one bathroom. Every unit has its own washer and dryer. The property received a full remodel 2 years ago, including updated electrical and plumbing systems, insulation, roofing, windows, quartz countertops, and soft-close cabinetry. Furnishings range from living-room pieces to kitchen utensils, and bunk beds provide additional sleeping capacity.
The corner-lot property is near St. Joseph and Mary Bridge hospitals, with street parking available. Furnish Finder listings are paid through August 2027.
The corner-lot property is near St. Joseph and Mary Bridge hospitals, with street parking available. Furnish Finder listings are paid through August 2027.
Key Highlights
- Three units, each with 3 bedrooms and 1 bathroom
- 2,624 square feet across the triplex
- Full remodel completed 2 years ago, including electrical, plumbing, insulation, roof, and windows
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,572
Cap Rate
3.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$691,440
$691.4K
Cap Rate 7%
$493,886
$493.9K
Cap Rate 9%
$384,133
$384.1K
Market Conditions
NOI Build-Up for 2,624 SF
Gross rent
$52.0K $19.80/SF
− Vacancy
−$2.6K −$0.98/SF
EGI
$49.4K $18.82/SF
− OpEx
−$14.8K −$5.65/SF
NOI
$34.6K $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%
$691,440
Cap Rate 7%
$493,886
Cap Rate 9%
$384,133
Alternative Uses
Best Use
Multifamily LT 5
$493.9K
$432.2K – $576.2K
NOI $34,572 @ 7.0% cap · market cap 3.14%
Second Best
Apartment 5plus
$429.2K
$375.6K – $500.8K
NOI $30,045 @ 7.0% cap · market cap 2.73%
Theoretical Best
Office A
$806.5K
$705.7K – $941.0K
NOI $56,458 @ 7.0% cap · market cap 5.13%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
3,248
Businesses Nearby
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Business Placement
Demographics for 98405, WA
24,617
Population
11,645
Households
2.1
Avg Household Size
37
Median Age
31%
College-Educated
94%
High-School Grad
4.1 sq mi
ZIP Area
6,004
Density / Sq Mi
$80,024
Median Household Income
$51,028
Median Earnings
$1,480
Median Rent
$443,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - Each residence offers three bedrooms, one bathroom, in-unit laundry, and furnishings for tenant use.
Where is this triplex located?
The property is located at 723 S Sheridan Avenue Tacoma, WA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Three units, each with 3 bedrooms and 1 bathroom; 2,624 square feet across the triplex; Full remodel completed 2 years ago, including electrical, plumbing, insulation, roof, and windows
