Property Details

6.78% CAP RATE – The Lincoln District 6-unit is a well-maintained, single-story apartment building situated on a 9,583 square foot lot in Tacoma’s Lincoln District. Originally built in 1950 and fully renovated in 2020, the property features a low-maintenance brick façade, double-paned vinyl windows, metal entry doors, and a composition shingle roof replaced in 2020. The unit mix includes two two-bedroom/one-bath apartments and four one-bedroom/one-bath apartments, averaging 750 square feet and 550 square feet, respectively. All six units have been comprehensively renovated within the last five years with luxury vinyl plank flooring, white shaker cabinetry, new appliances, granite countertops, and LED lighting fixtures.The property also offers a spacious 1,816 square foot basement with four large storage lockers, two sets of coin-operated washers and dryers, individual water heaters, and gas furnaces. Heating is provided via electric baseboards in the one-bedroom units and gas furnaces—located in the basement—for the two-bedroom units. Each apartment benefits from dual entry, with a front door accessible through the courtyard and a back door leading to a shared backyard, laundry area, and storage lockers. The property is separately metered for gas and electricity, with residents billed back $100 per month for water, sewer, and garbage.