Listed by Gateway Real Estate, Bought with Theory Real Estate
NOT LISTED FOR SALE

1405 Martin Luther King jr Way Tacoma, WA 98405

Hilltop Neighborhood
-- Bed
-- Bath
5,680 Sq Ft
6,500 Sq Ft Lot

Last Sold May 22, 2023

Last sale price $1,300,000 $229 Per Sq Ft

7 Days on Market

Highlights

  • No HOA
  • Wood Siding
  • 5-minute walk to Ferry Park
  • Stadium High School Rated A-
  • Wall to Wall Carpet

About This Home

As of May 2023

Prime investor opportunity to own this 10 unit apartment complex in downtown Tacoma. Each unit features 1 bedroom and 1 full bathroom plus common space laundry room for additional income. This ideal location has access in front to the new Tacoma Link Light Rail and is within walking distance to many of Tacoma's unique amenities, UW Tacoma and medical facilities. This complex has been under rented for years and could become a cash cow for the future owner. Perfect for a 1031 tax exchange!

Last Agent to Sell the Property

Cory Moffett

Gateway Real Estate License #50649 Listed on: 01/20/2023

Gateway Real Estate

Last Buyer's Agent

Ronald Dudley

Theory Real Estate License #128719

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 2029390

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $11,921

Year Built

  • Built in 1968

Lot Details

  • 6,500 Sq Ft Lot

Home Design

  • Slab Foundation
  • Poured Concrete
  • Composition Roof
  • Wood Siding

Interior Spaces

  • 5,680 Sq Ft Home
  • 2-Story Property

Flooring

  • Wall to Wall Carpet
  • Vinyl

Parking

  • 4 Parking Spaces
  • Open Parking

Community Details

  • No Home Owners Association
  • Tacoma Subdivision

Listing and Financial Details

  • Assessor Parcel Number 2014210020

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$11,921

Year Built

Built in 1968

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi-Family
  • StyleCode: 56 - 10+ Units
  • Year Built: 1968
  • Buyer Agency Compensation: 2.5
  • MLS Status: Sold
  • Prev Status: Closed
  • New Construction: No
  • CalculatedSquareFootage: 5680
  • EffectiveYearBuiltSource: Public Records
  • Special Features: VirtualTour
  • Cumulative Days on Market: 362

Interior Features

  • Possible Use: Multi-Family
  • Fireplace: No
  • Flooring: See Remarks, Vinyl, Carpet
  • Interior Amenities: Wall to Wall Carpet
  • Stories: 2
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0
  • Amenities: Coin Op Laundry,See Remarks

Exterior Features

  • Roof: Composition
  • View: No
  • Waterfront: No
  • Exterior Features: Wood
  • Foundation Details: Poured Concrete, Slab
  • Structure Type: Multi Family

Garage/Parking

  • Carport Y N: No
  • Open Parking Spaces: 4
  • Open Parking: Yes
  • Total Parking Spaces: 4
  • ParkingUncoveredSpaces: 4

Utilities

  • Sewer: Sewer Connected
  • Water Source: Public
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • PowerCompany: City of Tacoma
  • SewerCompany: City of Tacoma
  • WaterCompany: City of Tacoma
  • WaterSewerGarbage: 14098

Condo/Co-op/Association

  • Senior Community: No
  • Association: No

Schools

  • Junior High Dist: Tacoma

Lot Info

  • Parcel Number: 2014210020
  • Lot Size Acres: 0.1492
  • Lot Size Sq Ft: 6500
  • Irrigation Water Rights: No
  • ResoLotSizeUnits: SquareFeet
  • ShowMapLink: true
  • MLSLotSizeSource: PCR
  • ZoningJurisdiction: City
  • ZoningClass: Multi-Family

Green Features

  • Power Production Type: Electric

Rental Info

  • Furnished: Unfurnished
  • GrossRentMultiplier: 22
  • LeasedItems: None
  • TotalMonthlyIncome: 6610

Multi Family

  • Gross Scheduled Income: 108000
  • Net Operating Income: 79507
  • Number Of Units Total: 10
  • Insurance Expense: 2474
  • Leasable Area: 5000
  • EnergySource: Electric
  • UnitsInBuildingTotal: 10
  • UnitsBelowGrade: false
  • VacancyRate: 0

Tax Info

  • Year: 2021
  • Tax Annual Amount: 11921

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/22/2023 05/22/23 Sold $1,300,000 0.0% $229 / Sq Ft
01/27/2023 01/27/23 Pending -- -- --
01/20/2023 01/20/23 For Sale $1,300,000 -- $229 / Sq Ft
Source: Northwest Multiple Listing Service (NWMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • C

    Seller's Agent in 2023

    Cory Moffett

    Gateway Real Estate

    Section Image
  • Ronald Dudley

    Buyer's Agent in 2023

    Ronald Dudley

    Theory Real Estate

    (253) 640-6688

    6 in this area

    153 Total Sales

    Ronald Dudley
    Section Image
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Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 2029390

Northwest Multiple Listing Service (NWMLS)
Washington Pierce County Tacoma 98405 Hilltop

1405 Martin Luther King jr Way, Tacoma, WA

This home is located at 1405 Martin Luther King jr Way, Tacoma, WA 98405 since 20 January 2023. This property was built in 1968. 1405 Martin Luther King jr Way is a home located in Pierce County with nearby schools including McCarver Elementary School, Hilltop Heritage Middle School, and Stadium High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Northwest Multiple Listing Service (NWMLS) All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Listing information is provided by the Northwest Multiple Listing Service (NWMLS). Property information is based on available data that may include MLS information, county records, and other sources. Listings marked with the 3 tree icon and provided by NWMLS. All properties are subject to prior sale or withdrawal. IDX information is provided exclusively for consumers’ personal noncommercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, that the data is deemed reliable but is not guaranteed by MLS GRID. ©2025 NWMLS.
Based on information submitted to the MLS GRID

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