Property profile

713 Yakima Ave Tacoma, WA 98405

OFF-MARKET
Apartment buildings
Property ID
US90-3246744
2,932 SF 0.15 ac lot Built 1919
Entity Owned 5-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional 14-unit apartment building presents a turnkey investment opportunity in Tacoma's vibrant Hilltop neighborhood. The property, located at 713 S Yakima Ave, Tacoma, WA 98405, boasts a prime location, offering convenient access to shops, restaurants, and the historic 27-acre Wright Park. A short walk to the 6th Avenue light rail station provides easy commuting to downtown Tacoma and beyond. Completely remodeled in 2024, this four-story building (4,912 net rentable square feet) features brand new plumbing and electrical systems, in-unit washers and dryers, and high-quality finishes throughout. Built in 1919 and situated on a sizable 6,500 square foot lot, the property is zoned DR, presenting potential for future expansion. The asking price is $2,450,000. This meticulously updated multifamily property offers strong rental income potential and a desirable location, making it an attractive investment for discerning buyers. The property's APN is 200715-0050. This is a rare opportunity to acquire a fully renovated, well-located apartment building in a thriving Tacoma neighborhood.

Property profile

Verified
Property type Apartment buildings
Use group APARTMENT HOUSE (5+ UNITS)
Year built 1919
Construction WOOD FRAME
Total area 2,932 SF
Lot 0.15 ac (6,500 SF)
Zoning code DR
APN 2007150050
UPID US90-3246744

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

713 Yakima Ave Tacoma, WA 98405-4819
Tacoma metro Census 61400 SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$1.20M
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$1.32M

Owner & transaction history

since 2021
Last sale
$1.3M
7 recorded transactions
2023
Price N/A
2021
$1.3M
2019
Price N/A
2018
$635,000
2004
Price N/A
2004
$385,000
2000
$238,497

Zoning & alternative use

DR · Tacoma, WA
Zoning description

DR: Downtown Residential The DR D istrict contains a predominance of mid -rise, higher density, urban residential development, together with places of employment and retail services. The preferred use of the DR District…

General category COMMERCIAL
Top alternative use upside
Neighborhood: shopping center $1.2M +130.5%
Auto repair, garage $1.1M +100.7%
Retail stores $885,000 +64.1%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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