🔥 New Price Alert! Tacoma 4‑Plex Now $599K – 7%+ Cap Rate & Development Potential

3902 S Park Ave, Tacoma, WA 98418 

Remodeled

🏡 Property Overview:

📈 After Repair Value(ARV): $790,000-$805,000

🛏 Units: 4 

📐 Living Space: 2,357 sqft

🌳 Lot Size: 4,920 sqft

📆 Year: 1951

✅ Updated Roof, Windows & Baths
30-year roof, vinyl windows, units already updated = lower CapEx.

✅ On-Site Coin-Op Laundry & Storage Units
Additional revenue streams + tenant perks = higher NOI and retention.

✅ RCX Zoning – High-Density Mixed Use
60’ height limit, no setbacks, 25% commercial occupancy — serious long-term play.

✅ Corner Lot = Premium Future Use
Excellent positioning for visibility, redevelopment, or higher rent premiums.

✅ Flexible Exit Strategies
Flip, BRRRR, hold for cash flow, or redevelop — this one checks all the boxes.

Forecasted Numbers:

Annual Gross Scheduled Income: $57,600
Monthly Rental Income: ~$4,800 @ market rents
Net Operating Income (NOI): $44,676/yr ($3,723/mo)
Est. Cap Rate: 7.4%
 

Current Numbers:
Total Rent Roll: $44,400/yr
Total Expenses: $12,924/yr
NOI: $31,476

Comparables