809 S 38th Street, Tacoma, WA 98418
- $950,000
Listing courtesy of Venture Real Estate Group LLC. Selling Office: ZNonMember-Office-MLS.
- Sold Price
- $950,000
- List Price
- $1,269,000
- Status
- SOLD
- MLS#
- 2284856
- Closing Date
- Dec 10, 2025
- Days on Market
- 326
- Annual Tax Ammount
- 7053
Property Description
***Price Reduction -$280K** Excellent and rare investment or owner user opportunity located in the heart of Tacoma's revitalized Lincoln District. Proforma CAP 7.45%. Potential redevelopment opportunity w/multi-use zoning and multiple new development sites nearby within revitalized Lincoln District. Horsfall mixed-use comm building comprised of total of 13 units, three retail spaces & attached warehouse on main level, on 2nd level, six studio apartments and three SEDUs with opportunity to change either the floorplan or unit mix during renovation. Great proforma income w/ 2nd floor resi buildout & retail lease potential. Designated parking behind building. Conveniently located minutes to Tacoma Mall, T-Mobile, & more! Property sold "As Is"
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Additional Information
- Community
- Lincoln
- Style
- 75 - Retail
- Year Built
- 1916
- # of Assigned Spaces
- 16
- Roof
- Composition, Flat
- Tax Year
- 2024
- Flooring
- Concrete, Softwood, Vinyl, Carpet
- Driving Directions
- Heading west on S 38th St., Horsfall building will be on your right.
- Electric Expenses
- 6951
- Energy Source
- Natural Gas
- Net Operating Income
- $230,098
- Gross Adjusted Income
- $366,596
- Water/Sewer/Garbage Expenses
- $2,979
- Cap Rate
- 7.45
- Vacancy Rate
- 5
- Total Expenses
- $16,983
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.