3419 43Rd StTacoma, WA 98409

This well-maintained Tacoma apartment building presents a compelling investment opportunity. The property, located at 3419 S 43rd St, Tacoma, WA 98409, is a two-story, 2,840 square foot building on a 6,500 square foot lot. Built in 1970 and extensively renovated in 2020, it features four units: two 2-bedroom/1-bathroom units and two 1-bedroom/1-bathroom units. All units boast modern upgrades including EVP flooring, quartz countertops, stainless steel appliances, LED lighting, and new windows. The property enjoys 100% occupancy, generating a current Net Operating Income (NOI) of $50,657, and a pro-forma NOI of $55,659, representing a 6.14% cap rate and a pro-forma cap rate of 6.75%, respectively. Additional income streams are possible from five on-site storage units and an on-site laundry room. The property includes eight secured parking spaces and is fully fenced. Its convenient location near I-5 and the Tacoma Mall adds to its appeal. The asking price is $825,000, or $206,250 per unit, with a price per square foot of $290.49. A seller credit of $10,000 is available. This stabilized investment property offers a strong return and significant upside potential.