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    801 Martin Luther King Jr Way, Unit Tacoma Tacoma, WA 98405

    For Sale
    $975,000

    7-unit multifamily property in Tacoma's 6th Ave Business District.

    Property size:
    4,920 SF

    Property Features for 801 Martin Luther King Jr Way

    General Information

    Standard status
    Active
    Size
    4,920 SF

    Building Details

    Year built
    1931

    Source: PARAGON REAL ESTATE ADVISORS Agent TANNER FOGLE

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Downtown Tacoma Multifamily Investment Opportunity

    The Kelley Arms Apartments is a 7-unit multifamily property situated in the heart of Downtown Tacoma’s 6th Ave Business District. Built in 1931, this property combines vintage character with updates. The unit mix includes six one-bedroom units averaging 770 square feet and one studio unit at 300 square feet, totaling 4920 square feet. Recent capital improvements include a new roof installed in 2021 and updated windows within the last four years. Located just two blocks from the LINK Light Rail 6th Ave Station, and less than one mile from both the Stadium District and Wright Park, the location offers access to transit and neighborhood amenities. The property is well-positioned for a new owner to take advantage of immediate rental upside.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Realty agency Restaurant Dental Office Law Firm Spa & Massage Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Tacoma
    County
    Pierce
    State
    Washington
    Longitude
    -122.4520919
    Latitude
    47.2549449

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    FAQs

    What type of property is this?
    Apartment building - 7-unit multifamily property in Tacoma's 6th Ave Business District.
    Where is this apartment building located?
    The property is located at 801 Martin Luther King Jr Way, Unit Tacoma Tacoma, WA.
    What is the asking price?
    The asking price for this property is $975,000.
    What are key features of this property?
    This property features: - Located in the heart of Downtown Tacoma’s 6th Ave Business District, a highly walkable and transit-connected neighborhood.; - Immediate rental upside potential.; - New roof installed in 2021.
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    801 Martin Luther King Jr Way, Unit Tacoma Tacoma, WA 98405
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