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Royal Plaza 1405 Martin Luther King Jr Way 10 Unit Apartment Building $1,914,752 CAD ($191,475 CAD/Unit) 7.03% Cap Rate Tacoma, WA 98405
Executive Summary
Are you looking for your next multi family investment? Maybe 1031 exchange? Look no further! This 10 unit apartment complex in Hilltop is an incredible opportunity and perfect for your portfolio! Very conforming 2 story complex with 5 units down, 5 units up, a laundry room, and storage room! Each unit is a 1 bed 1 bath and all separately metered! Various updates have been done throughout the interiors and exterior of the property! This is a prime location conveniently located on the Tacoma Link Light Rail, nearby UW Tacoma, Stadium District, Hospitals, restaurants, shops, entertainment, and more! Fully gated property for security and a dog run out back! This has everything you need for your next investment! Hurry before it's gone!
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$194,976
|
$34.33
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$194,976
|
$34.33
|
| Taxes |
$18,695
|
$3.29
|
| Operating Expenses |
$41,590
|
$7.32
|
| Total Expenses |
$60,285
|
$10.61
|
| Net Operating Income |
$134,692
|
$23.71
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $194,976 |
| Annual Per SF | $34.33 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $194,976 |
| Annual Per SF | $34.33 |
| Taxes (CAD) | |
|---|---|
| Annual | $18,695 |
| Annual Per SF | $3.29 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $41,590 |
| Annual Per SF | $7.32 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $60,285 |
| Annual Per SF | $10.61 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $134,692 |
| Annual Per SF | $23.71 |
Property Facts
| Price | $1,914,752 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $191,475 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 7.03% | Building Size | 5,680 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| Gross Rent Multiplier | 10.52 | No. Stories | 2 |
| No. Units | 10 | Year Built/Renovated | 1968/1993 |
| Property Type | Multifamily | Parking Ratio | 1.06/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | NCX | ||
| Price | $1,914,752 CAD |
| Price Per Unit | $191,475 CAD |
| Sale Type | Investment |
| Cap Rate | 7.03% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 10.52 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 5,680 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1968/1993 |
| Parking Ratio | 1.06/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | NCX |
Amenities
- Smoke Detector
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Range
- Tub/Shower
- Dining Room
- Linen Closet
Site Amenities
- Laundry Facilities
- Pet Play Area
- Public Transportation
- Private Bathroom
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 10 | $1,669 CAD | 500 |
1 1
Very walkable
80/100
Moderately drivable
60/100
Some public transit
40/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 201421-0020 | Total Assessment | $1,504,247 CAD |
| Land Assessment | $535,695 CAD | Annual Taxes | $18,695 CAD ($3.29 CAD/SF) |
| Improvements Assessment | $968,553 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
201421-0020
Land Assessment
$535,695 CAD
Improvements Assessment
$968,553 CAD
Total Assessment
$1,504,247 CAD
Annual Taxes
$18,695 CAD ($3.29 CAD/SF)
Tax Year
2025
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Royal Plaza | 1405 Martin Luther King Jr Way
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