Property Details
615 Martin Luther King Jr Way
Tacoma, WA 98405
$725,000
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Property Overview
Located in the heart of Tacoma, this property operates like a tri-plex despite its legal duplex status, maximizing your rental income streams. Three distinct electric meters mean tenants pay their own power bills, reducing the owner’s expenses. Strong Return Metric; the 9% approximate cap rate is exceptionally high for a fully renovated turnkey asset. DADU Ready; The freshly cemented backyard is optimized to build a 20’x20’ Detached Accessory Dwelling Unit, which could add a fourth rental stream. Parking Assets; A three-car parking area accessed via the alley solves a common tenant pain point in dense urban areas. Turnkey Condition; The total 2026 renovation eliminates immediate capital expenditure (CapEx) needs for plumbing, electrical, or cosmetics. Healthcare Hub; Walking distance to major hospitals and medical buildings ensures a steady pool of high-quality tenants like travel nurses and healthcare professionals. Excellent Transit; Proximity to bus lines and the T Line (Tacoma Link) electric rail makes it highly desirable for commuters without cars.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
Pierce
Neighborhood
Stadium District
Listed
Jun 1, 2026
Structure Type
Duplex
Parcel Number
2006210070
Tax & HOA
Annual Property Tax
$4,414 (2025)
Est. Monthly Tax
$368/mo
Financial Summary
Total Expenses
$4,414
Building & Use
Building Sq Ft
2,984
Leasable Area
2,984 sqft
Total Units
3
Zoning
Residential
Possible Use
Residential
Lot Size
3,511 sqft
Year Built
1892
Exterior & Lot
Lot Size
0.08 sqft
Year Built
1892
Exterior Materials
Wood
Sewer
Sewer Connected
Water Source
Public
Lot Features
Alley, Curbs, Paved, Sidewalk
Exterior Features
Wood Products
Community & Access
Directions
GPS friendly
Location
City
Tacoma
County
Pierce
Coordinates
47.25665, -122.45235
Additional Information
Tax Year
2025
Annual Taxes
$4,414
Possession
Array
Based on information submitted to the MLS GRID as of June 11, 2026 9:30 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.
