21
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Listed by:Real Broker LLC • Charles Burnett
$949,500
Est. payment /mo
8 Beds
4 Baths
3,374 SqFt
Pending
522 E 32nd ST #A-D Tacoma, WA 98404
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Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Pending
Purchase Type For Sale
Square Footage 3,374 sqft
Price per Sqft $281
Subdivision Mckinley
MLS Listing ID 2506088
Style 54 - 4-Plex
Bedrooms 8
Year Built 1992
Annual Tax Amount $11,101
Lot Size 6,500 Sqft
Property Sub-Type Multi Family
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.
Location
State WA
County Pierce
Area 55 - Southeast Tacoma
Interior
Flooring Vinyl, Carpet
Fireplace false
Exterior
Exterior Feature Wood Products
Garage Spaces 4.0
View Y/N Yes
View Bay, City, Mountains, Sound
Roof Type Composition
Building
Lot Description Alley, Corner Lot, Curbs, Paved
Sewer Sewer Connected
Water Public
New Construction No
Schools
School District Tacoma
Others
Senior Community No
Acceptable Financing Cash, Conventional, VA Loan
Listing Terms Cash, Conventional, VA Loan
"Three Trees" icon indicates a listing provided courtesy of NWMLS.
Nearby Locations
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