Property Details
707 709 S I Street
Tacoma, WA 98405
$1,599,000
Active
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Property Overview
Victorian Manor is a fully renovated from the studs out, multifamily asset ideally positioned in Tacoma’s rapidly expanding urban core, just two blocks from the brand-new T-Line Light Rail and minutes from downtown. Victorian Manor is a rare turnkey opportunity priced at $133K per door, has upside in rents, in a walkable, and transit-connected neighborhood that is poised for appreciation. Victorian Manor is currently a 6.07 cap rate on in-place income and expenses and has the potential for 10%+ income growth via utility bill-back and modest rent adjustments. With Tacoma’s steady rent growth, healthcare expansion, and regional infrastructure investments this property offers both immediate yield and long-term upside.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
Pierce
Neighborhood
Tacoma
Listed
Oct 27, 2025
Original Price
$1,650,000
Financial Summary
Cap Rate
6.07%
Net Operating Income
$97,138
Gross Scheduled Income
$188,640
Gross Rent Multiplier
8.47
Total Expenses
$82,070
Vacancy Rate
5.0%
Building & Use
Building Sq Ft
5,640
Leasable Area
5,640 sqft
Total Units
12
Lot Size
6,499 sqft
Year Built
1954
Exterior & Lot
Lot Size
0.15 sqft
Year Built
1954
Exterior Materials
Cement Plank
Sewer
Sewer Connected
Lot Features
Alley, Curbs, Paved, Sidewalk
Exterior Features
Cement Planked
Location
City
Tacoma
County
Pierce
Coordinates
47.25608, -122.44928
Additional Information
Tax Year
2026
Annual Taxes
$14,786
Possession
Array
Based on information submitted to the MLS GRID as of April 27, 2026 5:45 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.
