1017 S I Street, Tacoma, WA 98405 (MLS # 2594657)

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Listing provided courtesy of Northwest MLS; Windermere Prof Partners

PRICE $499,900
BEDS 0
BATHS 0
HOME SIZE 1,596 sqft
LOT SIZE 1,499 sqft
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Updated Tacoma duplex in a prime location within walking distance of light rail and close to downtown amenities. The up-down configuration features 2-bedroom, 1-bath units, each with a living area, kitchen, and its own laundry. There are no shared interior spaces, and electricity and water are separately metered. A comprehensive remodel from the studs out in 2016 included a new roof, windows, plumbing, electrical systems, and much more. The lower unit rents for $1,600 per month to a reliable, long-term tenant, while the recently vacated upper unit offers flexibility to move in, lease long term, or explore short-term rental use. The upper unit previously operated as a successful Airbnb benefiting from its proximity to downtown Tacoma. The projected 6.38% cap rate assumes an upper-unit rent of $1,600 per month "” matching the rate of the lower unit and below current market rent "” leaving additional income potential beyond the stated projection. Overall, this is an excellent investment opportunity with a proven rental track record and the added flexibility of owner occupancy.

LAST UPDATED 10/15/2026 TRACT New Tacoma
YEAR BUILT 1890 COMMUNITY New Tacoma
COUNTY Pierce STATUS Active
PROPERTY TYPE(S) Multi Family


ADDITIONAL DETAILS
AIR None
AREA 29 - Central Tacoma
CONSTRUCTION Metal Siding
HEAT Baseboard, Electric, Natural Gas, Wall Furnace
LOT 1498 sq ft
LOT DESCRIPTION Curbs, Paved, Sidewalk
LOT DIMENSIONS 25x60
MLS STATUS Active
STORIES 2
STYLE 52 - Duplex
SUBDIVISION New Tacoma
TAXES 4311
UTILITIES Cable Available, Sewer Connected
VIEW Yes
VIEW DESCRIPTION City
WATER Public
ZONING Residential

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Properties with the Logo icon are courtesy of Northwest MLS.

Listings courtesy of Northwest MLS as distributed by MLS GRID. Based on information submitted to the MLS GRID as of 10/16/26 3:18 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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