Listing provided courtesy of Theory Real EstateNWMLSas Distributed by MLSGrid- MLS# NWM2467071
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Request Info1405 Martin Luther King Jr WayTacoma, WA 98405
Multi-Family · 10 Beds · 5,680 Sq. ft. | 0.15 Acres$1,350,000
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1405 Martin Luther King Jr Way Overview
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Are you looking for your next multi family investment? Maybe 1031 exchange? Look no further! This 10 unit apartment complex in Hilltop is an incredible opportunity and perfect for your portfolio! Very conforming 2 story complex with 5 units down, 5 units up, a laundry room, and storage room! Each unit is a 1 bed 1 bath and all separately metered! Various updates have been done throughout the interiors and exterior of the property! This is a prime location conveniently located on the Tacoma Link Light Rail, nearby UW Tacoma, Stadium District, Hospitals, restaurants, shops, entertainment, and more! Fully gated property for security and a dog run out back! This has everything you need for your next investment! Hurry before it's gone!
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1405 Martin Luther King Jr Way Facts & Features
- Type Multi-Family
- Sq. ft. 5,680
- Price/Sq.ft. $238
- Lot 0.15 Acres
Details
General
Association/HOA
- Association Fee: $0.00
School Information
- School District: Tacoma
Income/Expenses
- Other Expense: 7209
- Electric Expense: 10000
- Fuel Expense: 0
- Gross Scheduled Income: 142560
- Insurance Expense: 7860
- Net Operating Income: 98482
- Total Expenses: 44078
- Total Monthly Income: 11880
- Water/Sewer/Garbage: 5340
Building Information
- New Construction: No
- Year Built: 1968
Location/Region
- Country: US
- County Or Parish: Pierce
- MLS Area Major: 29 - Central Tacoma
- Subdivision Name: Hilltop
Community/Development
- Amenities: Coin Op Laundry,Storage
Tax Information
- Tax Annual Amount: $13,669.00
- Tax Year: 2025
General Information
- Listing Terms: Cash, Conventional, FHA, VA Loan
- Parcel Number: 2014210020
- Property Sub Type: Multi Family
- Property Type: Residential Income
- Senior Community: No
- Special Listing Conditions: None
Interior
Beds/Baths
- Bedrooms Upper: 0
Building Interior
- Building Area Total: 5680
- Building Area Units: Square Feet
- Calculated Square Footage: 5680
- Square Footage Finished: 0
- Square Footage Unfinished: 0
General Information
- Cooling: No
- Fireplace: No
- Fireplaces Total: 0
- Flooring: Vinyl, Vinyl Plank
- Foundation Details: Poured Concrete
- Heating: Yes
- Leasable Area: 5680
- Living Area: 0
- Main Level Bathrooms: 0
- Power Production Type: Electric
- Security Features: Partially Fenced,Security Gate
- Stories Total: 2
Exterior
Parking Information
- Open Parking Spaces: 6
- Open Parking: Yes
- Parking Uncovered Spaces: 6
Lot Information
- Irrigation Water Rights: No
- Lot Features: Alley, Curbs, Paved, Sidewalk
- Lot Size Acres: 0.1492
- Lot Size Square Feet: 6500
- Lot Size Units: Square Feet
- Site Features: Fenced-Partially, Gated Entry
- Elevation Units: Feet
- Water Source: Public
Waterfront/View
- View: No
- Waterfront: No
Building Exterior/Construction
- Roof: Composition
- Structure Type: Multi Family
General Information
- Carport Spaces: 0
- Carport: No
- Covered Spaces: 0
- Exterior Features: Wood Products
- Number Of Units Total: 10
- Sewer: Sewer Connected
Unit Information
Unit 2 Details
- Actual Rent: 1105
- Beds Total: 1
- Baths Total: 1
Unit 6 Details
- Actual Rent: 1105
- Beds Total: 1
- Baths Total: 1
Unit 7 Details
- Actual Rent: 1105
- Beds Total: 1
- Baths Total: 1
Unit 10 Details
- Actual Rent: 1105
- Beds Total: 1
- Baths Total: 1
Unit 8 Details
- Actual Rent: 1120
- Beds Total: 1
- Baths Total: 1
Unit 3 Details
- Actual Rent: 1165
- Beds Total: 1
- Baths Total: 1
Unit 9 Details
- Actual Rent: 1260
- Beds Total: 1
- Baths Total: 1
Unit 4 Details
- Actual Rent: 1290
- Beds Total: 1
- Baths Total: 1
Unit 5 Details
- Actual Rent: 1290
- Beds Total: 1
- Baths Total: 1
Unit 1 Details
- Actual Rent: 1335
- Beds Total: 1
- Baths Total: 1
1405 Martin Luther King Jr Way Neighborhood
Community
98405 (Tacoma) Demographics
37
Median Age
5,709
Population Density (per sq. mile)
42%
College Educated
$60,255
Estimated Median Income
4,740
Estimated Total Home Owners
5,142
Estimated Total Renters
48% / 52%
Estimated Owner / Renter Divide
2
Estimated Average Household Size
Schools
School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.1405 Martin Luther King Jr Way Monthly Cost
1405 Martin Luther King Jr Way Market Data
Based on the last 30 days in this zip code
$485,245
Average List Price
$282
Average Price per Square Foot
25
Properties Sold
64
Average Days on Market
77
Properties for Sale
1405 Martin Luther King Jr Way History
| Date | Value | Agent |
|---|---|---|
| 5/13/2026Source: NWMLS | $1,350,000 -3.6% |
|
| 2/10/2026Source: NWMLS | $1,400,000 -3.4% |
|
| 1/9/2026Source: NWMLS | January 09, 2026 |