522 E 32nd Street Unit #A-D, Tacoma, WA 98404
- $949,500
- 3,374
- SqFt
Listing courtesy of Real Broker LLC. Selling Office: Real Property Mgmt Teyata.
- Sold Price
- $949,500
- List Price
- $949,500
- Status
- SOLD
- MLS#
- 2506088
- Closing Date
- May 15, 2026
- Days on Market
- 13
- Style
- 54 - 4-Plex
- Building Condition
- Good
- Finished SqFt
- 3,374
- Area Total SqFt
- 3374
- Annual Tax Ammount
- 11101
- Lot Size (sq ft)
- 6,500
- Sewer
- Sewer Connected
Property Description
Meticulously maintained view fourplex in a prime Tacoma location, owned and cared for by the same owner for over 30 years. Built in 1992, this property offers a rare combination of strong in-place cash flow, pride of ownership, and clear upside potential. Each unit includes its own washer and dryer—no shared laundry—and tenants benefit from a detached 4-car garage with individual bays, plus ample off-street parking. The standout feature here is the view—sweeping, unobstructed sightlines of Commencement Bay, the Tacoma Dome, and the downtown skyline from every unit, including the lower level. This is a true “all units have a view” asset, which is extremely rare in this price point. Recent capital improvements provide peace of mind for years to come, including a newer roof, exterior paint, and new Milgard windows. In 2025, the city completed streetscape improvements including new sidewalks and lighting, transforming the immediate area into a park-like setting and materially enhancing curb appeal and long-term desirability. Rents are well below market with long-term, month-to-month tenants, creating immediate value-add potential. At current rents, the property is being offered at a 6.5% cap rate, with a clear path to approximately an 8% cap at market rents. Minimal deferred maintenance + below-market rents = clean, low-risk value-add. One unit has been intentionally left vacant for ease of showings and to accommodate an owner-occupant buyer.
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Additional Information
- List Date
- 2026-05-02 00:00:00
- Community
- McKinley
- Net Operating Income
- $62,439
- Gross Adjusted Income
- $80,190
- Gross Scheduled Income
- $81,000
- Total Monthly Income
- $6,750
- Insurance Expenses
- $950
- Water/Sewer/Garbage Expenses
- $4,500
- Gross Rent Multiplier
- 11
- Total Expenses
- $17,751
- Cap Rate
- 6.5
- Vacancy Rate
- 2
- Total Number of Units
- 4
- Unit Name
- 522
- Potential Terms
- Cash, Conventional, VA Loan
- Year Built
- 1992
- View
- Bay, City, Mountains, Sound
- Roof
- Composition
- Energy Source
- Electric
- School District
- Tacoma
- Total Monthly Income
- $6,750
- Gross Scheduled Income
- $81,000
- Vacancy Rate
- 2
- Gross Adjusted Income
- $80,190
- Tax Year
- 2025
- Insurance Expense
- $950
- W/S/G Expenses
- $4,500
- Total Expenses
- $17,751
- Net Operating Income
- $62,439
- Gross Rent Multiplier
- 11
- Cap Rate
- 6.5
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.