Property Details
814 5th St
Steilacoom, WA 98388
$1,875,000
Active
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Property Overview
GREAT INVESTMENT, FULLY RENOVATED 6-UNITS with steady rental income. Located just 7 blocks from the beautiful Saltar's Point Beach & Park to enjoy beachfront picnics, fresh salt air & more. Also close to Fort Steilacoom Park & just a 10 minute drive to Chambers Bay Golf. This Prime location is also close to Lakewood, University Place & McChord Air Force Base, in a quiet and quaint neighborhood within the Historic little town of Steilacoom. Duplex-style architecture, yet the property was developed as Condo Units in 2008 and has always been owned by a single investor versus 3 or 6 investors … Current owner considering breaking into 3 Duplex Units if not sold to one investor who wants to own and manage the whole property with all 6-units, so don’t delay if you want to own all 6 in this great location! Updated roofs, windows, stainless appliances including W/D & microwaves in each unit, vinyl plank flooring, mini-split heat & A/C, + each unit has a deck w/ storage unit. 6 tax parcels for PSA. PLEASE Do Not Disturb Tenants! Access to interiors upon mutual acceptance on an acceptable PSA. 3-D Tour uploaded + Tour Video. Fidelity T&E.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
Pierce
Neighborhood
Saltars Point
Listed
Mar 2, 2026
Financial Summary
Cap Rate
6.30%
Net Operating Income
$118,427
Gross Scheduled Income
$151,200
Gross Rent Multiplier
12.40
Total Expenses
$32,773
Building & Use
Building Sq Ft
5,312
Leasable Area
5,312 sqft
Total Units
6
Lot Size
38,568 sqft
Year Built
1970
Exterior & Lot
Lot Size
0.89 sqft
Year Built
1970
Exterior Materials
Wood
Sewer
Sewer Connected
Lot Features
Corner Lot, Paved
Exterior Features
Wood
Location
City
Steilacoom
County
Pierce
Coordinates
47.16465, -122.60710
Additional Information
Tax Year
2025
Annual Taxes
$14,177
Possession
Array
Based on information submitted to the MLS GRID as of May 14, 2026 7:45 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.
