New
For Sale
$1,450,000
920 S 9th St, Tacoma, WA 98405
Apartment buildings
Property Size7,850 SF
Days on Market2
Property Features for 920 S 9th St
General Information
Standard status
Active
Size
7,850 SF
Property subtype
Multifamily
Occupancy
95%
Site & Location
Neighborhood
Central
Amenities
IMMEDIATE CASH FLOW: Offered at a going-in cap rate exceeding 6%, delivering strong day-one returns.
REDEVELOPMENT OPPORTUNITY: ±5,444 SF of vacant land zoned RCX offers long-term potential for residential or mixed-use development.
RECENT INFRASTRUCTURE UPGRADES: Recent copper electrical and plumbing upgrades lower near-term capital needs. (Some knob and tube wiring and galvanized steel pipe remains).
Building Details
Building Size
7,850 SF
Units
8
Listing Agency:
MARCUS & MILLICHAP, INC.
Listed By:
Kellan Moll · License #License(s): WA: 111361
(206) 826-5692
Source:
Marcusmillichap
Added: Oct 24
Last Checked: Oct 24 at 1:07PM
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 MARCUS & MILLICHAP, INC.
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Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$89,882
Cap Rate
6.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,797,640
$1.8M
Cap Rate 7%
$1,284,029
$1.3M
Cap Rate 9%
$998,689
$998.7K
Market Conditions
NOI Build-Up for 7,850 SF
Gross rent
$172.4K $21.96/SF
− Vacancy
−$9.0K −$1.14/SF
EGI
$163.4K $20.82/SF
− OpEx
−$73.5K −$9.37/SF
NOI
$89.9K $11.45/SF
Area
Tacoma, WA
Vacancy
5.20%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,797,640
Cap Rate 7%
$1,284,029
Cap Rate 9%
$998,689
Alternative Uses
Best Use
Apartment 5plus
$1.28M
$1.12M – $1.50M
NOI $89,882 @ 7.0% cap · market cap 6.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.41M
$2.11M – $2.82M
NOI $168,901 @ 7.0% cap · market cap 11.65%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
5,306
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
Where is this apartment building located?
The property is located at 920 S 9th St Tacoma, WA.
What is the asking price?
The asking price for this property is $1,450,000.
