1115 N 12th Street, Tacoma, WA 98403
- $2,000,000
Listing courtesy of Kidder Mathews.
- List Price
- $2,000,000
- Status
- ACTIVE
- MLS#
- 2553708
- Days on Market
- 12
- Style
- 56 - 10+ Units
- Building Condition
- Good
- Annual Tax Ammount
- 15846
- Lot Size (sq ft)
- 12,610
- Sewer
- Sewer Connected
Property Description
SELLER FINANCING AVAILABLE. The Villa Apartments is a well-located 10-unit apartment building situated in one of Tacoma's most coveted and historically stable submarkets — North Tacoma. Offered to the market for the first time in over 25 years, this is a rare opportunity to acquire a long-held, carefully maintained asset in a neighborhood that consistently commands strong tenant demand and above-average rent growth. The property presents a compelling value-add investment profile, with dated interiors that reflect the building's long-term ownership and offer a clear path to modernization. A strategic renovation program targeting updated finishes, fixtures and exteriors would allow a new owner to drive meaningful rental growth and unlock significant upside in stabilized value. Adding to the opportunity, the seller is offering attractive financing terms, providing qualified buyers with a distinct advantage in today's elevated interest rate environment. North Tacoma's appeal is well established - tree-lined streets, walkable neighborhoods, proximity to the University of Puget Sound, Tacoma's best retail and dining corridors, and consistently low vacancy make it one of the most sought-after multifamily locations in the South Sound.
/u.realgeeks.media/pnwcasas/PNWCasas_BLK_Logo.jpg){kind=logo}
Additional Information
- List Date
- 2026-07-14 17:36:13
- Community
- North Tacoma
- Net Operating Income
- $115,055
- Gross Adjusted Income
- $177,422
- Gross Scheduled Income
- $186,760
- Total Monthly Income
- $15,563
- Insurance Expenses
- $5,950
- Water/Sewer/Garbage Expenses
- $19,200
- Gross Rent Multiplier
- 10.7
- Total Expenses
- $62,367
- Cap Rate
- 5.75
- Vacancy Rate
- 5
- Total Number of Units
- 10
- Unit Name
- 1115
- Potential Terms
- Owner Will Carry
- Year Built
- 1954
- Roof
- Flat
- Other Expenses
- 21371
- Energy Source
- Electric
- School District
- Tacoma
- Total Monthly Income
- $15,563
- Gross Scheduled Income
- $186,760
- Vacancy Rate
- 5
- Gross Adjusted Income
- $177,422
- Tax Year
- 2026
- Insurance Expense
- $5,950
- W/S/G Expenses
- $19,200
- Total Expenses
- $62,367
- Net Operating Income
- $115,055
- Gross Rent Multiplier
- 10.7
- Cap Rate
- 5.75
Based on information submitted to the MLS GRID as of . 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.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.