Property Details
315 N L Street
Tacoma, WA 98403
$1,425,000
Active
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Property Overview
Fully occupied, freshly upgraded, and sitting on a path of undeniable growth. The unit mix is exactly what tenants want: two spacious 3-bed/1-bath units and two 1-bed/1-bath units, each with covered porches, hardwood and fir floors, original built-ins, and gas forced air heat. Two units feature updated kitchens with stainless appliances and newer cabinetry.The heavy lifting is already done. A new water supply line, all-new supply plumbing, new sewer line, two new 80-gallon water heaters, and new furnaces mean a new owner steps into a mechanically sound asset with minimal deferred maintenance and maximum peace of mind.A five-bay garage off the alley represents untapped monthly income sitting largely uncaptured in the current rent roll, a straightforward path to pushing NOI higher without touching a single unit. Fully fenced backyard, unfinished basement with shared laundry, open storage, and four individual storage units round it out.Easy access to Tacoma's new light rail, Wright Park, and the medical center puts this property directly in the path of the city's most significant growth corridor. Proven tenancy. Turnkey systems.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
Pierce
Neighborhood
Stadium District
Listed
Jun 29, 2026
Structure Type
Quadruplex
Parcel Number
2033230040
Tax & HOA
Annual Property Tax
$9,178 (2025)
Est. Monthly Tax
$765/mo
Financial Summary
Cap Rate
5.03%
Net Operating Income
$71,686
Gross Scheduled Income
$95,640
Gross Rent Multiplier
14.90
Total Expenses
$23,954
Building & Use
Building Sq Ft
4,008
Leasable Area
4,008 sqft
Total Units
4
Lot Size
6,499 sqft
Year Built
1910
Exterior & Lot
Lot Size
0.15 sqft
Year Built
1910
Garage
5 spaces
Exterior Materials
Wood
Sewer
Sewer Connected
Water Source
Public
Lot Features
Curbs, Paved, Sidewalk
Exterior Features
Wood
Community & Access
Directions
Division to N L St. NW on N L. Building is on the right
Location
City
Tacoma
County
Pierce
Coordinates
47.26063, -122.45572
Additional Information
Tax Year
2025
Annual Taxes
$9,178
Possession
Array
Based on information submitted to the MLS GRID as of August 1, 2026 5:30 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.
