Duplex with Remodeled
9621 -9623 16th Avenue S, Tacoma, WA 98444
For Sale
$660,000
One residence is occupied, while the other has been renovated and is ready for occupancy.
Property Size2,645 SF
Price / SF$249.53
Days on Market32
Property Features for 9621 -9623 16th Avenue S
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Building Details
Year Built
Listing Agency:
Timber Real Estate
(253) 400-6952
Listed By:
Joshua Meeks · License #26850
(253) 389-8961
Source:
Armadahomes
Added: Oct 7
Changed: Nov 7
Last Checked: Nov 7 at 6:21AM
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 Timber Real Estate
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2,645-square-foot duplex in Tacoma was built in 2005 and contains two three-bedroom, two-bathroom residences. One unit is occupied and producing rental income; the other is vacant, recently remodeled, and staged. Together, the units provide six bedrooms and four bathrooms.
Key Highlights
- Two units, each with 3 bedrooms and 2 bathrooms
- 2,645 square feet; built in 2005
- Occupied residence generates rental income
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,849
Cap Rate
5.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$696,980
$697.0K
Cap Rate 7%
$497,843
$497.8K
Cap Rate 9%
$387,211
$387.2K
Market Conditions
NOI Build-Up for 2,645 SF
Gross rent
$52.4K $19.80/SF
− Vacancy
−$2.6K −$0.98/SF
EGI
$49.8K $18.82/SF
− OpEx
−$14.9K −$5.65/SF
NOI
$34.8K $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%
$696,980
Cap Rate 7%
$497,843
Cap Rate 9%
$387,211
Alternative Uses
Best Use
Multifamily LT 5
$497.8K
$435.6K – $580.8K
NOI $34,849 @ 7.0% cap · market cap 5.28%
Second Best
Apartment 5plus
$432.6K
$378.6K – $504.8K
NOI $30,285 @ 7.0% cap · market cap 4.59%
Theoretical Best
Office A
$813.0K
$711.4K – $948.5K
NOI $56,910 @ 7.0% cap · market cap 8.62%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
319
Businesses Nearby
Explore this area
Business Placement
Demographics for 98444, WA
36,885
Population
13,762
Households
2.7
Avg Household Size
34
Median Age
15%
College-Educated
87%
High-School Grad
6.9 sq mi
ZIP Area
5,346
Density / Sq Mi
$64,464
Median Household Income
$39,829
Median Earnings
$1,581
Median Rent
$369,500
Median Home Value
Market
Average Price Trend$/SF for Duplexes in Pierce County, WA
Properties on Market for Duplexes in Pierce County
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - One residence is occupied, while the other has been renovated and is ready for occupancy.
Where is this duplex located?
The property is located at 9621 -9623 16th Avenue S Tacoma, WA.
What is the asking price?
The asking price for this property is $660,000.
What are key features of this property?
This property features: Two units, each with 3 bedrooms and 2 bathrooms; 2,645 square feet; built in 2005; Occupied residence generates rental income
