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Victorian Manor Apartments 707-709 S I St 12 Unit Apartment Building $2,191,893 CAD ($182,658 CAD/Unit) 5.87% Cap Rate Tacoma, WA 98405
Investment Highlights
- Fully renovated from the studs out
- In a walkable, and transit-connected neighborhood
- Has an estimated 10%+ income growth via utility bill-back and modest rent adjustments.
- Just two blocks from the brand-new T-Line Light Rail and minutes from downtown
- Ideally positioned in Tacoma’s rapidly expanding urban core
Executive Summary
Victorian Manor is a fully renovated from the studs out, multifamily asset ideally positioned in Tacoma’s rapidly expanding urban core, just two blocks from the brand-new T-Line Light Rail and minutes from downtown. Victorian Manor is a rare turnkey opportunity priced under $138K per door, has upside in rents, in a walkable, and transit-connected neighborhood that is poised for appreciation. Victorian Manor has the potential for 10%+ income growth via utility bill-back and modest rent adjustments. With Tacoma’s steady rent growth, healthcare expansion, and regional infrastructure investments this property offers both immediate yield and long-term upside. Victorian Manor delivers stability, scalability, and location-driven value that investors seek.
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$256,793
|
$45.53
|
| Other Income |
$1,809
|
$0.32
|
| Vacancy Loss |
$12,931
|
$2.29
|
| Effective Gross Income |
$245,672
|
$43.56
|
| Taxes |
$20,269
|
$3.59
|
| Operating Expenses |
$96,690
|
$17.14
|
| Total Expenses |
$116,959
|
$20.74
|
| Net Operating Income |
$128,713
|
$22.82
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $256,793 |
| Annual Per SF | $45.53 |
| Other Income (CAD) | |
|---|---|
| Annual | $1,809 |
| Annual Per SF | $0.32 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $12,931 |
| Annual Per SF | $2.29 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $245,672 |
| Annual Per SF | $43.56 |
| Taxes (CAD) | |
|---|---|
| Annual | $20,269 |
| Annual Per SF | $3.59 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $96,690 |
| Annual Per SF | $17.14 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $116,959 |
| Annual Per SF | $20.74 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $128,713 |
| Annual Per SF | $22.82 |
Property Facts
| Price | $2,191,893 CAD | Building Class | C |
| Price Per Unit | $182,658 CAD | Lot Size | 0.15 AC |
| Sale Type | Investment | Building Size | 5,640 SF |
| Cap Rate | 5.87% | Average Occupancy | 100% |
| No. Units | 12 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1954/2007 |
| Property Subtype | Apartment | Parking Ratio | 1.06/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | URX | ||
| Price | $2,191,893 CAD |
| Price Per Unit | $182,658 CAD |
| Sale Type | Investment |
| Cap Rate | 5.87% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 5,640 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1954/2007 |
| Parking Ratio | 1.06/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | URX |
Amenities
- Smoke Detector
Unit Amenities
- Balcony
- Cable Ready
- Granite Countertops
- Hardwood Floors
- High Speed Internet Access
- Refrigerator
- Oven
- Sprinkler System
- Range
- Tub/Shower
- Views
- Carpet
- Double Pane Windows
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | $1,631 CAD | 338 |
| 1+1 | 11 | $1,900 CAD | 423 |
1 1
Very walkable
80/100
Moderately drivable
60/100
Some public transit
50/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 200717-0040 | Total Assessment | $2,489,218 CAD |
| Land Assessment | $484,163 CAD | Annual Taxes | $20,269 CAD ($3.59 CAD/SF) |
| Improvements Assessment | $2,005,055 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
200717-0040
Land Assessment
$484,163 CAD
Improvements Assessment
$2,005,055 CAD
Total Assessment
$2,489,218 CAD
Annual Taxes
$20,269 CAD ($3.59 CAD/SF)
Tax Year
2025
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Victorian Manor Apartments | 707-709 S I St
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