913-915 S 10th St 4 Unit Apartment Building $835,000 ($208,750/Unit) 5.84% Cap Rate Tacoma, WA 98405

Presenting an outstanding investment opportunity in one of Tacoma’s most vibrant and rapidly developing neighborhoods – the Fourplex at 913 S. 10th Street, which is being offered for sale along with the adjacent vacant lot at 915 S. 10th Street. This unique package offers both steady cash flow and future development potential, making it an ideal fit for investors seeking value-add or long-term hold strategies. The existing Fourplex features four 1-bedroom, 1-bathroom units, each with private entrances and classic architectural charm. The building has been well-maintained, with updated systems and interiors in key units, while still offering upside through additional improvements or repositioning. Rents in the area have been on a steady rise, and there is potential for increased income through modest updates or furnished mid-term or short-term rentals, given the property’s prime location. What sets this offering apart is the inclusion of the separately parceled lot at 915 S. 10th Street, providing rare infill development potential in Tacoma’s core. Zoned Downtown Residential (DR), the site supports a wide variety of residential options, including townhomes, stacked flats, and other multi-unit configurations. Whether your goal is to expand the existing income property, build additional units, or hold the land as a future asset, the flexibility is there. Utilities are readily available, and city planning policies are favorable toward increasing density in this area. The location is exceptional. Situated just minutes from Downtown Tacoma, Wright Park, St. Joseph Medical Center, and the University of Washington Tacoma campus, tenants enjoy easy access to transit, services, and recreation. Walkable and bikeable streets connect the property to Tacoma’s emerging food, art, and entertainment scene, and the I-705 and I-5 corridors are just blocks away for commuters. This investment hits all the right notes: strong current income, upside potential, and rare development opportunity in a rapidly growing urban center. Tacoma continues to attract residents priced out of Seattle while offering a unique lifestyle and robust employment base anchored by healthcare, education, and port industries. Whether you're an investor looking for a plug-and-play rental with land to grow, a developer seeking a prime infill site, or a buyer wanting to land bank while generating income, this property checks the boxes. Don’t miss your chance to secure a footprint in Tacoma’s historic district with flexibility and long-term value.