🔥 Off-Market Tacoma 4‑Plex – 9% Cap Rate w/ Light Cosmetic Updates!

Published: Fri, 09/12/25

Updated: Fri, 09/12/25

🔥 Off-Market Tacoma 4‑Plex – 9% Cap Rate w/ Light Cosmetic Updates!

3902 S Park Ave, Tacoma, WA 98418

Remodeled

Starting Price

$599,000

🏡 Property Overview:

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

🛏 Units: 4

📐 Living Space: 2,357 sqft

🌳 Lot Size: 4,920 sqft

📆 Year: 1951

After cosmetic upgrades:

Annual Gross Scheduled Income: $67,200
Monthly Rental Income: ~$5,600 @ market rents
Net Operating Income (NOI): $54,276/yr ($4,523/mo)
Est. Cap Rate: 9%

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

Click here for more photos

Comparables

1522 S M St, Tacoma, WA 98405 - $775,000
5 bd 🛏️ | 4 ba 🛁 | 2,344 sqft 📐 | 1900 YR 🏡

1027 E 47th St, Tacoma, WA 98404 - $848,000
5 bd 🛏️ | 4 ba 🛁 | 2,724 sqft 📐 | 1912 YR 🏡

3419 S 43rd St, Tacoma, WA 98409 - $831,423

6 bd 🛏️ | 4 ba 🛁 | 2,840 sqft 📐 | 1970 YR 🏡

1301 N 4th St, Tacoma, WA 98403- $992,584

5 bd 🛏️ | 4 ba 🛁 | 2,756 sqft 📐 | 1955 YR 🏡

1301 S 54th Street, Tacoma, WA 98408- $839,000

6 bd 🛏️ | 4 ba 🛁 | 2,720 sqft 📐 | 1969 YR 🏡

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

✅ 100% Occupancy – All Tenants Month-to-Month
Currently rented below market, offering immediate upside in rent adjustments.

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

✅ 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.

ARV:

$790,000- $805,000

Important Info:

Cash or Hard Money only(conventional not accepted)

Offer Review will be 6pm on Wednesday 09/17

Showing: Wednesday 09/17 request details to be added.

SKIP THE LINE: Now accepting sight unseen offers !! Must drop 20k non refundable earnest to lock the offer in.

Call/text for Appt:

(206)487-1975

TEXT DEALS to (425) 522-6934

DISCLAIMER: This is an assignment of contract. A legally binding purchasing contract with memorandum has been signed with the Seller giving this company exclusive rights to purchase the property. This company does not represent the owner. We are NOT brokers and do not represent ourselves as such. DO NOT CONTACT THE OWNER/SELLER without our explicit consent. Any attempts to renegotiate or make contact with the owner will result in legal action.

Disclaimer: This company makes no warranty or representation about the content of this post. It is your responsibility to independently confirm the accuracy and competencies. Any projections, opinions, or assumptions used are for example only and do not represent the current or future performance of this property.

P.O. Box 20321
Seattle WA 98102
US

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