615 Martin Luther King Jr Way, Tacoma, WA 98405
Local realty services provided by:Imagine Realty ERA Powered
Listed by: chad nolan, rachel veary
Office: 1 percent lists tacoma
MLS#:2562234
Source:NWMLS
615 Martin Luther King Jr Way,Tacoma, WA 98405
$599,999
- - Beds
- - Baths
- 2,986 sq. ft.
- Multi-family
- Pending
Price summary
- Price:$599,999
- Price per sq. ft.:$200.94
About this home
Exceptional turnkey investment opportunity in the heart of Downtown Tacoma near Wright Park! Fully renovated, this property functions as a tri-plex while maintaining its legal duplex status, offering two spacious 3-bedroom units, plus a finished lower-level 2-bedroom unit for additional income potential. All three units have been extensively updated and are currently vacant, providing flexibility for investors seeking market rents or owner-occupants looking to offset their mortgage with rental income. Three separate electric meters allow tenants to pay their own electricity, helping reduce operating expenses. The property also offers outstanding future upside with potential to construct a Detached Accessory Dwelling Unit (DADU) in the rear yard, creating the opportunity for a 4th additional income-producing unit. A freshly improved backyard, alley access, and three dedicated parking spaces further enhance the property's functionality and appeal. Located amongst major hospitals, medical facilities, transit, the Tacoma Link light rail, downtown Tacoma, and major commuter routes, this is an ideal location for healthcare professionals, commuters, and long-term tenants alike. A rare opportunity to acquire a move-in-ready investment property with immediate cash flow potential and future development possibilities. Buyer to verify all redevelopment, zoning, and DADU potential. Approx. 11.6% cap rate, $84,000 gross annual income, and $7,000/month in rental income....
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Home facts
- Year built:1892
- Subdivision & Development:Stadium District
- Listing ID #:2562234
- Updated:September 14, 2026 at 08:16 AM
Rooms and interior
- Flooring:Ceramic Tile Floor, Vinyl Plank
- Living area:2,986 sq. ft.
Structure and exterior
- Roof:Composition
- Year built:1892
- Building area:2,986 sq. ft.
- Lot area:0.08 Acres
- Lot Features:Alley, Curbed Lot, Paved, Sidewalk
- Construction Materials:Wood Products Exterior Finish
- Exterior Features:Fenced-Partially, Patio
Utilities
- Water:Public
- Sewer:Sewer Connected
Finances and disclosures
- Price:$599,999
- Price per sq. ft.:$200.94
- Tax amount:$4,371 (2026)
Parking
- Total parking spaces:3
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