Duplex with Remodeled
For Sale
$660,000
9623 16th Ave S 9621, Tacoma, WA 98444
One residence is occupied, while the renovated companion unit is vacant and staged.
Property Size2,645 SF
Price / SF$249.53
Days on Market10
Property Features for 9623 16th Ave S 9621
General Information
Standard status
Active
Size
2,645 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Gross Income
$27,540
Building Details
Year Built
2005
Listing Agency:
Timber Real Estate
Listed By:
Joshua Meeks · License #26850
(253) 389-8961
Source:
Handrisrealty
Added: Oct 5
Changed: Oct 11
Last Checked: Oct 12 at 7:46PM
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
Investment Insights
Based on property information with market context.
Built in 2005, this 2,645-square-foot duplex contains two residences, each with three bedrooms and two bathrooms. One unit is occupied; the other has been remodeled, is vacant, and is staged. Together, the property offers six bedrooms and four bathrooms.
Located at 9623 16th Ave S 9621 in Tacoma, the duplex combines an occupied unit with a vacant, updated residence.
Located at 9623 16th Ave S 9621 in Tacoma, the duplex combines an occupied unit with a vacant, updated residence.
Key Highlights
- Two units, each with 3 bedrooms and 2 bathrooms
- 2,645 square feet across the duplex
- One unit is occupied; the second is vacant, remodeled, and staged
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
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Current Use
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
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
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Frequently Asked Questions
What type of property is this?
Duplex - One residence is occupied, while the renovated companion unit is vacant and staged.
Where is this duplex located?
The property is located at 9623 16th Ave S 9621 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 across the duplex; One unit is occupied; the second is vacant, remodeled, and staged
