Property Details
3841 S Park Avenue
Tacoma, WA 98418
$1,020,000
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Property Overview
6.37% Cap Rate | 3841 S Park Ave is a well-maintained, single-story 6-unit apartment building. 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.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
Pierce
Neighborhood
South Tacoma
Listed
Oct 22, 2025
Original Price
$1,050,000
Financial Summary
Cap Rate
6.37%
Net Operating Income
$64,957
Gross Scheduled Income
$98,880
Gross Rent Multiplier
10.31
Total Expenses
$37,379
Vacancy Rate
5.0%
Building & Use
Leasable Area
3,700 sqft
Total Units
6
Year Built
1950
Exterior & Lot
Lot Size
0.22 sqft
Year Built
1950
Exterior Materials
Brick
Sewer
Sewer Connected
Exterior Features
Brick
Location
City
Tacoma
County
Pierce
Coordinates
47.22154, -122.44162
Additional Information
Tax Year
2025
Annual Taxes
$11,400
Possession
Array
Based on information submitted to the MLS GRID as of April 25, 2026 5:10 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.
