Property Details
1021 N 5th Street
Tacoma, WA 98403
$1,100,000
Active
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Property Overview
This stately property in Tacoma’s North Slope Historic District holds 4 units including a gracious main floor that’s a complete home in itself. Built by the Cornell Brothers who also built the Elks Temple and First Presbyterian, this is an opportunity to live in a home full of history and character with rental income for support. Open the front door from the wraparound porch into an apartment spanning the entire main level. Oak hardwoods and a rounded bay window bring beauty to the living room, while the dining room is replete with original millwork from box beam ceilings to paneled walls and built-ins. The commercial style, eat-in kitchen creates contrast with its concrete counters and SubZero fridge. With 2 bedrooms, a bonus room, 2 baths, and a back deck overlooking the garden, there’s room to live, work and host. The 2nd floor’s 1-bed, 1-bath units are both occupied and generating income. The basement studio is vacant. Updates include a new roof and exterior paint in 2025 and a new boiler in 2023. Near parks, pubs, cafes and light rail.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
Pierce
Neighborhood
Tacoma
Listed
May 7, 2026
Financial Summary
Cap Rate
6.05%
Net Operating Income
$66,549
Gross Scheduled Income
$97,800
Gross Rent Multiplier
11.25
Total Expenses
$26,360
Vacancy Rate
5.0%
Building & Use
Building Sq Ft
4,799
Leasable Area
3,819 sqft
Total Units
4
Lot Size
7,501 sqft
Year Built
1905
Exterior & Lot
Lot Size
0.17 sqft
Year Built
1905
Garage
1 spaces
Exterior Materials
Wood
Sewer
Sewer Connected
Water Source
Public
Lot Features
Corner Lot, Curbs, Paved, Sidewalk
Exterior Features
Wood
Location
City
Tacoma
County
Pierce
Coordinates
47.26217, -122.45741
Additional Information
Tax Year
2026
Annual Taxes
$9,607
Possession
Array
Based on information submitted to the MLS GRID as of May 7, 2026 4:30 PM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2026 NWMLS. All rights reserved.
IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2026 NWMLS. All rights reserved.
