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615 Martin Luther King Jr Way, Tacoma, WA 98405

Tacoma
Local realty services provided by:CENTURY 21 Lund, Realtors
Listed by: steve hiatt
Office: keller williams realty
MLS#:2533311
Source:NWMLS
615 Martin Luther King Jr Way,Tacoma, WA 98405
$725,000
  • - Beds
  • - Baths
  • 2,984 sq. ft.
  • Multi-family
  • Active

Price summary

  • Price:$725,000
  • Price per sq. ft.:$242.96

About this home

Located in the heart of Tacoma, this property operates like a tri-plex despite its legal duplex status, maximizing your rental income streams. Three distinct electric meters mean tenants pay their own power bills, reducing the owner’s expenses. Strong Return Metric; the 9% approximate cap rate is exceptionally high for a fully renovated turnkey asset. DADU Ready; The freshly cemented backyard is optimized to build a 20’x20’ Detached Accessory Dwelling Unit, which could add a fourth rental stream. Parking Assets; A three-car parking area accessed via the alley solves a common tenant pain point in dense urban areas. Turnkey Condition; The total 2026 renovation eliminates immediate capital expenditure (CapEx) needs for plumbing, electrical, or cosmetics. Healthcare Hub; Walking distance to major hospitals and medical buildings ensures a steady pool of high-quality tenants like travel nurses and healthcare professionals. Excellent Transit; Proximity to bus lines and the T Line (Tacoma...

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Home facts

  • Year built:1892
  • Listing ID #:2533311
  • Updated:June 21, 2026 at 12:43 AM

Rooms and interior

  • Flooring:Carpet, Ceramic Tile Floor, Laminate
  • Living area:2,984 sq. ft.

Structure and exterior

  • Roof:Composition
  • Year built:1892
  • Building area:2,984 sq. ft.
  • Lot area:0.08 Acres
  • Lot Features:Alley, Curbed Lot, Paved, Sidewalk
  • Construction Materials:Wood Products Exterior Finish
  • Exterior Features:Fenced-Partially

Utilities

  • Water:Public
  • Sewer:Sewer Connected

Finances and disclosures

  • Price:$725,000
  • Price per sq. ft.:$242.96
  • Tax amount:$4,414 (2025)

Parking

  • Total parking spaces:3
MLS LogoListings courtesy of Northwest MLS as distributed by MLS GRID. Based on information submitted to the MLS GRID as of June 21, 2026. 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 for consumers' personal, non-commercial use, solely to identify prospective properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Information deemed reliable but not guaranteed. Copyright © 2026 MLS GRID. All Rights Reserved. NWMLS Member Broker: Greg Lund

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