Listed by John L. Scott, Inc
$4,150,000

5416 S M St Tacoma, WA 98408

South End Neighborhood

Estimated payment $25,348/month

Total Views 527
-- Bed
6 Baths
12,672 Sq Ft
$327 Price per Sq Ft

Highlights

  • 0.34 Acre Lot
  • Vinyl Plank Flooring
  • Wood Siding
  • No HOA
  • Forced Air Heating and Cooling System

About This Home

White Rock Apartments is a fully renovated 30-unit community in Tacoma, WA, offering modern studio units with high-quality finishes and strong tenant appeal. Renovations completed between 2022 and 2025 include upgraded interiors and exteriors, while community amenities feature laundry facilities, parking, and potential storage income. With an in-place 5.85% cap rate, attractive financing options, and upside through rent adjustments and operational improvements, the property provides investors a rare opportunity to achieve projected stabilized returns of 7.87% in a high-demand, affordable Puget Sound market. Located in Tacoma’s South End, an up-and-coming neighborhood where affordability meets everyday convenience.

Listing Agent

Jon Bye

John L. Scott, Inc License #25593 Listed on: 09/05/2025

John L. Scott, Inc

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 2428904

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $38,845

Year Built

  • Built in 1963

Home Design

  • Flat Roof Shape
  • Wood Siding

Interior Spaces

  • 6 Bathrooms
  • 12,672 Sq Ft Home
  • 2-Story Property
  • Vinyl Plank Flooring

Parking

  • 15 Parking Spaces
  • Open Parking

Additional Features

  • 0.34 Acre Lot
  • Forced Air Heating and Cooling System

Community Details

  • No Home Owners Association
  • South Tacoma Subdivision

Listing and Financial Details

  • Assessor Parcel Number 7785006910

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$38,845

Year Built

Built in 1963

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi Family
  • StyleCode: 56 - 10+ Units
  • Year Built: 1963
  • MLS Status: Active
  • Prev Status: Active
  • New Construction: No
  • CalculatedSquareFootage: 12672
  • Special Features: None

Interior Features

  • Fireplace: No
  • Flooring: Vinyl Plank
  • Stories: 2
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0
  • BathsFullUpper: 0
  • BathsHalfUpper: 0
  • BathsThreeQuarterUpper: 0
  • BedroomsUpper: 0
  • Amenities: Coin Op Laundry,Storage

Exterior Features

  • Roof: Flat
  • Lot Features: Curbs, Paved, Sidewalk
  • View: No
  • Waterfront: No
  • Construction Type: Wood
  • Exterior Features: Wood
  • Structure Type: Multi Family

Garage/Parking

  • Carport Y N: No
  • Open Parking Spaces: 15
  • Open Parking: Yes
  • Total Parking Spaces: 15
  • ParkingUncoveredSpaces: 15

Utilities

  • Sewer: Sewer Connected
  • Water Source: Public
  • Cooling: Central A/C
  • Cooling Y N: Yes
  • Heating: Forced Air
  • Heating Yn: Yes
  • WaterSewerGarbage: 33375

Condo/Co-op/Association

  • Senior Community: No
  • Association: No

Schools

  • Junior High Dist: Tacoma

Lot Info

  • Parcel Number: 7785006910
  • Lot Size Acres: 0.3357
  • Lot Size Sq Ft: 14625
  • Irrigation Water Rights: No
  • ShowMapLink: true
  • MLSLotSizeSource: Title
  • MLSSquareFootageSource: Title

Green Features

  • Power Production Type: Electric

Rental Info

  • GrossRentMultiplier: 9.41
  • LeasedItems: None
  • TotalMonthlyIncome: 483352

Multi Family

  • Gross Scheduled Income: 441000
  • Net Operating Income: 306061
  • Number Of Units Total: 6
  • Insurance Expense: 32036
  • Leasable Area: 12390
  • EnergySource: Electric
  • UnitsInBuildingTotal: 30
  • UnitsBelowGrade: false
  • VacancyRate: 5

Tax Info

  • Year: 2025
  • Tax Annual Amount: 38845

Map

Range of Values:

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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
09/05/2025 09/05/25 For Sale $4,150,000 -- $327 / Sq Ft
Source: Northwest Multiple Listing Service (NWMLS)

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 2428904

Northwest Multiple Listing Service (NWMLS)
Washington Pierce County Tacoma 98408 South End

5416 S M St, Tacoma, WA

This home is located at 5416 S M St, Tacoma, WA 98408 and is currently priced at $4,150,000, approximately $327 per square foot. This property was built in 1963. 5416 S M St is a home located in Pierce County with nearby schools including Mann Elementary School, Angelo Giaudrone Middle School, and Lincoln 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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Jon Bye
Listing Agent
Jon Bye
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John L. Scott, Inc
(253) 785-4576