615 Martin Luther King Jr Way, Tacoma, WA 98405 (MLS # 2533311)
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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 Link) electric rail makes it highly desirable for commuters without cars.
| LAST UPDATED | 6/19/2026 | TRACT | Stadium District |
|---|---|---|---|
| YEAR BUILT | 1892 | COMMUNITY | Stadium District |
| COUNTY | Pierce | STATUS | Active |
| PROPERTY TYPE(S) | Multi Family |
| PRICE HISTORY | |
| Prior to Jun 19, '26 | $725,000 |
|---|---|
| Jun 19, '26 - Today | $699,000 |
| ADDITIONAL DETAILS | |
| AIR | None |
|---|---|
| AREA | 20 - North Tacoma |
| BASEMENT | Yes |
| CONSTRUCTION | Wood Siding |
| HEAT | Electric, Wall Furnace |
| LOT | 3511 sq ft |
| LOT DESCRIPTION | Alley, Curbs, Paved, Sidewalk |
| MLS STATUS | Active |
| STORIES | 3 |
| STYLE | 52 - Duplex |
| SUBDIVISION | Stadium District |
| TAXES | 4414 |
| UTILITIES | Sewer Connected |
| VIEW | Yes |
| VIEW DESCRIPTION | Bay, City |
| WATER | Public |
| ZONING | Residential |
| SATELLITE VIEW |
| / | |
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Listings courtesy of Northwest MLS as distributed by MLS GRID. Based on information submitted to the MLS GRID as of 7/2/26 2:48 PM PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. IDX information is provided exclusively for consumers’ personal noncommercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. 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.
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This IDX solution is (c) Diverse Solutions 2026.