Property Details
1405 Martin Luther King Jr Way
Tacoma, WA 98405
$1,400,000
Active
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Property Overview
Are you looking for your next multi family investment? Maybe 1031 exchange? Look no further! This 10 unit apartment complex in Hilltop is an incredible opportunity and perfect for your portfolio! Very conforming 2 story complex with 5 units down, 5 units up, a laundry room, and storage room! Each unit is a 1 bed 1 bath and all separately metered! Various updates have been done throughout the interiors and exterior of the property! This is a prime location conveniently located on the Tacoma Link Light Rail, nearby UW Tacoma, Stadium District, Hospitals, restaurants, shops, entertainment, and more! Fully gated property for security and a dog run out back! This has everything you need for your next investment! Hurry before it's gone!
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
Pierce
Neighborhood
Hilltop
Listed
Jan 9, 2026
Original Price
$1,450,000
Financial Summary
Cap Rate
6.57%
Net Operating Income
$98,482
Gross Scheduled Income
$142,560
Gross Rent Multiplier
10.52
Total Expenses
$44,078
Building & Use
Building Sq Ft
5,680
Leasable Area
5,680 sqft
Total Units
10
Lot Size
6,499 sqft
Year Built
1968
Exterior & Lot
Lot Size
0.15 sqft
Year Built
1968
Exterior Materials
Wood
Sewer
Sewer Connected
Water Source
Public
Lot Features
Alley, Curbs, Paved, Sidewalk
Exterior Features
Wood Products
Location
City
Tacoma
County
Pierce
Coordinates
47.24865, -122.45053
Additional Information
Tax Year
2025
Annual Taxes
$13,669
Possession
Array
Based on information submitted to the MLS GRID as of April 25, 2026 5:11 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.
