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1122 Lafayette St S
Tacoma, WA 98444
 Multifamily Property For Sale · 4 Units

Apartment Buildings Washington Tacoma 1122 Lafayette St S, Tacoma, WA 98444

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Investment Highlights

  • This well-kept 4-plex delivers a 5.08% CAP RATE.
  • Quick access to WA-512 & I-5. Please do not disturb occupants.
  • Each unit is single-level, 1 bed/1 bath.

Executive Summary

Excellent Tacoma investment opportunity! This well-kept 4-plex delivers a 5.08% CAP RATE with upside potential!! Each unit is single-level, 1 bed/1 bath, with proven 0% vacancy rate. Recent improvements include a brand-new metal roof, refreshed exterior, and two updated units with luxury vinyl plank flooring and new paint. Added income from on-site coin-op laundry plus private storage for each unit. A hedge against inflation, this property produces steady monthly cash flow and offers tax advantages. With strong occupancy, rental demand, and income streams, it combines reliability with growth potential. Prime location near a new elementary school, PLU, JBLM, retail, dining, and quick access to WA-512 & I-5. Please do not disturb occupants.
NOI & Cap Rate 5.08% reflect PM fee at $300 per month. Without PM Cap Rate reflects 5.57%. One unit at $1,300, three at $1,100 w/potential $200 increase on renewal (+$600/mo). Laundry adds ~$1,200/yr. Current gross $56,400/yr; projected $63,600/yr.

Property Facts

Price Per Unit $242,807 CAD Building Class C
Sale Type Investment Lot Size 0.16 AC
Cap Rate 5.15% Building Size 2,546 SF
Gross Rent Multiplier 12.94 Average Occupancy 100%
No. Units 4 No. Stories 1
Property Type Multifamily Year Built/Renovated 1957/2015
Property Subtype
Apartment
  • Multifamily Dormitory
 Parking Ratio 3.93/1,000 SF
Apartment Style Low-Rise
Zoning SR9, Tacoma
Price Per Unit $242,807 CAD
Sale Type Investment
Cap Rate 5.15%
Gross Rent Multiplier 12.94
No. Units 4
Property Type Multifamily
Property Subtype
Apartment
  • Multifamily Dormitory
Apartment Style Low-Rise
Building Class C
Lot Size 0.16 AC
Building Size 2,546 SF
Average Occupancy 100%
No. Stories 1
Year Built/Renovated 1957/2015
Parking Ratio 3.93/1,000 SF
Zoning SR9, Tacoma

Amenities

Unit Amenities

  • Storage Space
  • Kitchen
  • Refrigerator
  • Range
  • Tub/Shower
  • Carpet
  • Family Room
  • Vinyl Flooring

Site Amenities

  • Laundry Facilities
  • Storage Space
  • Private Bathroom

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
1+1 4 - 550

Links

Property Taxes

Parcel Number 584500-0191 Improvements Assessment $533,772 CAD
Land Assessment $260,209 CAD Total Assessment $793,980 CAD

Property Taxes

Parcel Number
584500-0191
Land Assessment
$260,209 CAD
Improvements Assessment
$533,772 CAD
Total Assessment
$793,980 CAD
 

  • Listing ID: 38142875

  • Date on Market: 2025-10-20

  • Last Updated:

  • Address: 1122 Lafayette St S, Tacoma, WA 98444

The Parkland Multifamily Property at 1122 Lafayette St S, Tacoma, WA 98444 is currently available. Contact Berkshire Hathaway HS for more information.

MULTIFAMILY PROPERTIES IN NEARBY NEIGHBORHOODS

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Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View Street
Map
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Building Photo
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Front entrance
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bathroom
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living room
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bedroom
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kitchen
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living room
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living room
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kitchen
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Kitchen
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living room
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bedroom
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Front entrance
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Front entrance
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Front entrance
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Front entrance
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Front entrance
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Front entrance
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Front side of yard
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Back/ side of yard
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patio
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storage
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laundry room
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School across the street

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