522 E 32nd Street #A-D, Tacoma, WA 98404 (MLS # 2506088)

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Listing provided courtesy of Northwest MLS; Real Broker LLC PRICE $949,500 BEDS 0 BATHS 0 HOME SIZE 3,374 sqft LOT SIZE 6,500 sqft Request More Info Schedule a Showing

Meticulously maintained view fourplex in a prime Tacoma location, owned and cared for by the same owner for over 30 years. Built in 1992, this property offers a rare combination of strong in-place cash flow, pride of ownership, and clear upside potential. Each unit includes its own washer and dryer"”no shared laundry"”and tenants benefit from a detached 4-car garage with individual bays, plus ample off-street parking. The standout feature here is the view"”sweeping, unobstructed sightlines of Commencement Bay, the Tacoma Dome, and the downtown skyline from every unit, including the lower level. This is a true "all units have a view" asset, which is extremely rare in this price point. Recent capital improvements provide peace of mind for years to come, including a newer roof, exterior paint, and new Milgard windows. In 2025, the city completed streetscape improvements including new sidewalks and lighting, transforming the immediate area into a park-like setting and materially enhancing curb appeal and long-term desirability. Rents are well below market with long-term, month-to-month tenants, creating immediate value-add potential. At current rents, the property is being offered at a 6.5% cap rate, with a clear path to approximately an 8% cap at market rents. Minimal deferred maintenance + below-market rents = clean, low-risk value-add. One unit has been intentionally left vacant for ease of showings and to accommodate an owner-occupant buyer.