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Listed by:Keasy Property Management • Liat Arama
$ 2,400,000
Est. payment /mo
New
1319 S 9 ST S Tacoma, WA 98405
17 Beds
9 Baths
9,042 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 9,042 sqft
Price per Sqft $265
Subdivision Central Tacoma
MLS Listing ID 2485504
Style 55 - 5-9 Units
Bedrooms 17
Year Built 1926
Annual Tax Amount $21,867
Lot Size 9,750 Sqft
Property Sub-Type Multi Family
Property Description
Sheridan Apartments | 9-Unit Fully Renovated Multifamily | 100% Occupied | $122,921 NOI Rare opportunity to acquire a fully stabilized, turnkey 9-unit asset in the heart of Central Tacoma. Sheridan Apartments offers immediate in-place cash flow with $194,000 gross income and $122,921 NOI, delivering strong performance from day one. This early 1900s Craftsman property has been extensively renovated, including fully updated interiors and a major electrical upgrade. There is no deferred maintenance, making this an ideal solution for investors seeking a low-management, quality asset. The diverse unit mix includes 2 detached homes, 5 apartment units, and 2 townhomes, creating strong tenant appeal and income stability. The property is 100% occupied and has demonstrated significant rent growth over the past several years, reflecting both operational strength and Tacoma's expanding rental market. Located in Central Tacoma with a Walk Score of 86, the property benefits from proximity to JBLM, major healthcare employers, and multiple higher education campuses. JBLM alone supports over 52,000 employees with substantial off-base housing demand, reinforcing long-term rental stability. Whether completing a 1031 exchange or adding a stabilized asset to your portfolio, Sheridan Apartments provides immediate income, renovation quality, and long-term upside in one of Washington's most supply-constrained markets.
Location
State WA
County Pierce
Area 27 - Central Tacoma
Interior
Fireplace false
Exterior
Exterior Feature Wood
View Y/N No
Roof Type Flat
Building
Lot Description Corner Lot
Sewer Available
Water Public
New Construction No
Schools
Elementary Schools Bryant
Middle Schools Hilltop Heritage Middle
High Schools Stadium
School District Tacoma
Others
Senior Community No
Acceptable Financing Conventional
Listing Terms Conventional
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