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Orchard St Duplexes 4846 S 48th St 8 Unit Apartment Building $2,500,000 ($312,500/Unit) 4.08% Cap Rate Tacoma, WA 98409
Investment Highlights
- First time to market opportunity to acquire the Orchard St Duplexes, a rare collection of four duplex buildings totaling 8 residential units in Tacoma
- Desirable large floor plans averaging approximately 1,200 square feet per unit, offering significantly more living space than traditional apartment un
- Strong demand for three-bedroom rental housing in Tacoma, appealing to families and tenants seeking larger living spaces
- Four duplex buildings totaling 8 units, each featuring spacious 3-bedroom 2-bathroom layouts designed for comfortable residential living
- Residential style duplex configuration creating a neighborhood living environment with strong tenant appeal and long-term occupancy stability
Executive Summary
Orchard St Duplexes is a collection of four duplex buildings totaling eight residential units on just over an acre in a quiet Tacoma neighborhood near University Place. Each unit offers a spacious three-bedroom, two-bathroom layout of approximately 1,280 square feet across two stories, with in-unit washer and dryer, double-pane vinyl windows, and a private garage. Wood-frame construction built in the early 1990s. Convenient access to I-5, Highway 16, and Tacoma Mall Boulevard.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$175,188
|
$17.11
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$8,759
|
$0.86
|
| Effective Gross Income |
$166,429
|
$16.25
|
| Taxes |
$29,248
|
$2.86
|
| Operating Expenses |
$35,062
|
$3.42
|
| Total Expenses |
$64,310
|
$6.28
|
| Net Operating Income |
$102,119
|
$9.97
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $175,188 |
| Annual Per SF | $17.11 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $8,759 |
| Annual Per SF | $0.86 |
| Effective Gross Income | |
|---|---|
| Annual | $166,429 |
| Annual Per SF | $16.25 |
| Taxes | |
|---|---|
| Annual | $29,248 |
| Annual Per SF | $2.86 |
| Operating Expenses | |
|---|---|
| Annual | $35,062 |
| Annual Per SF | $3.42 |
| Total Expenses | |
|---|---|
| Annual | $64,310 |
| Annual Per SF | $6.28 |
| Net Operating Income | |
|---|---|
| Annual | $102,119 |
| Annual Per SF | $9.97 |
Property Facts Under Contract
| Price | $2,500,000 | Property Subtype | Apartment |
| Price Per Unit | $312,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.08 AC |
| Cap Rate | 4.08% | Building Size | 10,240 SF |
| Gross Rent Multiplier | 14.27 | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1991 |
| Zoning | R3 - Residential | ||
| Price | $2,500,000 |
| Price Per Unit | $312,500 |
| Sale Type | Investment |
| Cap Rate | 4.08% |
| Gross Rent Multiplier | 14.27 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 1.08 AC |
| Building Size | 10,240 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1991 |
| Zoning | R3 - Residential |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 8 | $1,825 | 1,280 |
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Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Numbers | Total Assessment | $2,735,400 (2026) | |
| Land Assessment | $899,600 (2026) | Annual Taxes | $29,248 ($2.86/SF) |
| Improvements Assessment | $1,835,800 (2026) | Tax Year | 2025 Payable 2026 |
Property Taxes
Parcel Numbers
Land Assessment
$899,600 (2026)
Improvements Assessment
$1,835,800 (2026)
Total Assessment
$2,735,400 (2026)
Annual Taxes
$29,248 ($2.86/SF)
Tax Year
2025 Payable 2026
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Contact the Sale Advisor
Orchard St Duplexes | 4846 S 48th St