5032 S 58th St, Tacoma, WA
Offered at $749,900 | 4 Units
Comin' in hot with another Tacoma fourplex listing!
If you're looking for a Tacoma fourplex with strong upside, this one deserves a serious look. Priced $180,000 below the county's tax assessed value, this property offers immediate income, below-market rents, and several opportunities to create additional value over time.
Value-Add Opportunity
Located in Orchard Glen Estates, this solid fourplex features four spacious 2-bedroom, 1-bath units, each approximately 900 square feet.
Upper units include private balconies, while the lower units feature patios and large fenced backyards—amenities that continue to attract long-term tenants.
Current ownership has kept rents well below market, creating a clear opportunity for future rent growth. Based on projected market rents, the property offers an impressive 8.7% market cap rate.
Unique Additional Income Potential
One of the most unique features of this property is its approximately 1,800-square-foot basement with full-height ceilings.
Whether used for tenant storage, workshop space, or potentially converted into additional units (buyer to verify), the basement provides flexibility rarely found in fourplex properties and creates another avenue for future income.
Strong Tenant Base with Flexibility
The property is fully occupied, with Unit D intentionally left vacant for showings.
The remaining three tenants have been in place for many years, are currently month-to-month, and have not received rent increases in several years. This provides investors with both stable occupancy and the ability to gradually bring rents closer to market over time.
Additional features include:
- Shared laundry facility
- New roof installed in 2019
- Large one-third acre lot
- Quiet cul-de-sac location
Excellent Tacoma Location
Conveniently located with quick access to Interstate 5 and JBLM, the property benefits from consistent rental demand driven by military, healthcare, and commuter employment.
Its combination of a quiet residential setting and convenient access to shopping, schools, and major employers makes it an attractive rental property for years to come.
Priced to Sell
Opportunities like this don't come around often.
A turnkey Tacoma fourplex with below-market rents, expansion potential, and priced $180,000 below tax assessed value presents an exceptional opportunity for investors looking to build long-term wealth through multifamily real estate.
Interested in learning more?
Contact me for financial information, rent roll, or to schedule a private showing.
Charles Burnett, CCIM
Founder | Sound Property Group
I specialize exclusively in apartment buildings and multifamily investment properties throughout Tacoma, Seattle, Puyallup, Auburn, Bremerton, and the greater Puget Sound region, helping investors identify opportunities that maximize cash flow, appreciation, and long-term returns.