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Listed by Kidder Mathews David A. Kelley
$ 1,000,000
Est. payment | /mo
6 Beds
6 Baths
3,000 Sqft Lot
$ 1,000,000
Est. payment | /mo
6 Beds
6 Baths
3,000 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Subdivision Stadium District
MLS Listing ID 2470155
Style 55 - 5-9 Units
Bedrooms 6
Year Built 1910
Annual Tax Amount $12,576
Lot Size 3,000 Sqft
Property Sub-Type Multi Family
Property Description
The Park 5 apartments are a well-located 6-unit apartment building constructed in 1910, offering investors a compelling value-add opportunity in one of Tacoma's most desirable and historically stable submarkets. Significant recent capital improvements have already been completed, substantially reducing new ownerships near-term maintenance risk. Recent upgrades include brand new exterior siding and paint, along with a new roof and new windows, positioning the asset with strong curb appeal and durable long-term appreciation. These improvements allow a new owner to focus capital and effort on interior enhancements rather than major structural or exterior work. The interiors remain in largely original condition, presenting a clear path for modernization through updated finishes and fixtures. Park5 offers meaningful upside potential through a strategic renovation program aimed at driving rental growth. The property benefits from an exceptional location, situated adjacent to Wright Park, one of Tacoma's most iconic green spaces, and just steps from Tacoma General Hospital, one of the region's largest employment hubs. This proximity supports strong tenant demand from healthcare professionals and long-term renters seeking walkability, access to transit, and neighborhood amenities.
Location
State WA
County Pierce
Area 20 - North Tacoma
Interior
Flooring Hardwood
Fireplace false
Exterior
Exterior Feature Wood Products
View Y/N No
Roof Type Flat
Building
Sewer Sewer Connected
New Construction No
Schools
School District Tacoma
Others
Senior Community No
Acceptable Financing Conventional
Listing Terms Conventional
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