Remodeled Triplex with Detached
For Sale
$627,770
758 39TH, Tacoma, WA 88418
Three private residences provide individual access within a vacant, recently refreshed property.
Property Size2,236 SF
Price / SF$280.76
Days on Market8
Property Features for 758 39TH
General Information
Standard status
Active
Size
2,236 SF
Property subtype
Multi-family
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
3
Amenities
detached garage
storage
Building Details
Year Built
1909
Buildings
1
Listing Agency:
Skyline Properties,Inc.
(206) 229-5027
Listed By:
Sergey Lobodzinskiy
(206) 229-5027
Source:
Skylineproperties
Added: Aug 5
Changed: Aug 10
Last Checked: Aug 11 at 9:55AM
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 Skyline Properties,Inc.
Investment Insights
Based on property information with market context.
This 2,236-square-foot triplex contains three separate residences, each with its own entrance. The property has been remodeled and includes a detached garage plus additional storage. Built in 1909, it has a documented rental history extending more than 25 years and is currently vacant.
The property is in Tacoma’s Lincoln District, near shopping, schools, dining, transit, and major freeway access. Its three-residence configuration supports multifamily ownership, multigenerational occupancy, or an owner-occupant arrangement with additional residences available for rent, as expressly described in the property information.
The property is in Tacoma’s Lincoln District, near shopping, schools, dining, transit, and major freeway access. Its three-residence configuration supports multifamily ownership, multigenerational occupancy, or an owner-occupant arrangement with additional residences available for rent, as expressly described in the property information.
Key Highlights
- 2,236‑square‑foot triplex with three separate residences
- Individual entrances for each residence
- Remodeled and currently vacant
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
$29,460
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
4.69%
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%
$589,200
$589.2K
Cap Rate 7%
$420,857
$420.9K
Cap Rate 9%
$327,333
$327.3K
Market Conditions
NOI Build-Up for 2,236 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
$44.3K $19.80/SF
− Vacancy
−$2.2K −$0.98/SF
EGI
$42.1K $18.82/SF
− OpEx
−$12.6K −$5.65/SF
NOI
$29.5K $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%
$589,200
Cap Rate 7%
$420,857
Cap Rate 9%
$327,333
Alternative Uses
Best Use
Multifamily LT 5
$420.9K
$368.3K – $491.0K
NOI $29,460 @ 7.0% cap · market cap 4.69%
Second Best
Apartment 5plus
$365.7K
$320.0K – $426.7K
NOI $25,602 @ 7.0% cap · market cap 4.08%
Theoretical Best
Office A
$687.3K
$601.4K – $801.8K
NOI $48,110 @ 7.0% cap · market cap 7.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
804
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three private residences provide individual access within a vacant, recently refreshed property.
Where is this triplex located?
The property is located at 758 39TH Tacoma, WA.
What is the asking price?
The asking price for this property is $627,770.
What are key features of this property?
This property features: 2,236‑square‑foot triplex with three separate residences; Individual entrances for each residence; Remodeled and currently vacant
