Property Details
601 S Jackson Avenue
Tacoma, WA 98465
$2,800,000
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Property Overview
Built in 1959 and representing the quintessential Tacoma brick construction, Viewcrest Terrace Apartments is a meticulously maintained asset that has stood the test of time – both in physical condition and locational relevance. The property sits on the corner of Tacoma's prominent 6th Avenue corridor and S Jackson Avenue, offering residents sweeping views of Puget Sound and the Narrows Bridge from one of the most coveted residential locations in the city. Despite its premier positioning, the property presents a compelling light value-add opportunity with approximately $4,000 per month in unrealized rental upside between current in-place rents and market rates. A targeted interior modernization program focused on updated finishes, fixtures, and unit upgrades provides a clear and executable path to capturing meaningful rent premiums — without the need for significant structural or exterior capital investment. The building's exceptional physical condition allows a new owner to focus exclusively on value creation rather than deferred maintenance
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
Pierce
Neighborhood
Narrows
Listed
Jun 11, 2026
Structure Type
Multi Family
Parcel Number
0220031072
Tax & HOA
Annual Property Tax
$28,717 (2026)
Est. Monthly Tax
$2,393/mo
Financial Summary
Cap Rate
4.68%
Net Operating Income
$131,185
Gross Scheduled Income
$223,518
Gross Rent Multiplier
12.50
Total Expenses
$81,157
Vacancy Rate
5.0%
Building & Use
Leasable Area
10,600 sqft
Total Units
12
Zoning
Multi-Family
Possible Use
Multi-Family
Year Built
1955
Exterior & Lot
Lot Size
0.40 sqft
Year Built
1955
Exterior Materials
Brick
Sewer
Sewer Connected
Exterior Features
Brick
Community & Access
Directions
Get on I-705 S / Take WA-16 W to N Jackson Ave. Take exit 4 from WA-16 W / Continue on N Jackson Ave to your destination
Location
City
Tacoma
County
Pierce
Coordinates
47.25521, -122.53654
Additional Information
Tax Year
2026
Annual Taxes
$28,717
Possession
Array
Based on information submitted to the MLS GRID as of June 11, 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.
