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Listed by:Skyline Properties, Inc. • Donna Marshall
$ 799,000
Est. payment | /mo
4,563 Sqft Lot
$ 799,000
Est. payment | /mo
4,563 Sqft Lot
Key Details
Property Type Vacant Land
Sub Type Land
Listing Status Active
Purchase Type For Sale
Subdivision South Tacoma
MLS Listing ID 2594232
Style 42 - Multi-Family
Lot Size 4,563 Sqft
Property Sub-Type Land
Property Description
Fully Approved 13-Unit Development Opportunity | Tacoma Shovel-ready infill project with zero entitlement risk. City building & site development permits are fully approved—just pay issuance fees, attend one pre-con meeting, and pull permits to break ground.Project Highlights:• Lot: 4,563 SF corner parcel at S G & S 23rd St; Downtown Residential (DR) zoning, zero yard setbacks & alley access • Program: 13 units (4 studios, 9 one-bedrooms) totaling 6,244 net SF • Structure: 4-story Type VA wood-frame, R-2 occupancy, NFPA 13R fire suppression • Permits: Approved Graves architectural set (BLDCN23-0082, SDEV23-0391, WO23-0145) • Tax Advantage: Eligible for Tacoma's 12-Year MFTE property tax exemption, boosting stabilized NOI The Numbers: • Hard costs track well below King County at ~$210–$255/gross SF • Strong demand from UW Tacoma, MultiCare, Port of Tacoma & JBLM • Projected gross rent: $20,500–$22,500/mo at ~95% occupancy (Studios: $1,250–$1,400 | 1-BD: $1,550–$1,850)Entitlement Risk Removed: Architectural review, SEPA, civil engineering, and city planning cycles are complete. Eliminate the soft-cost burn and step directly into vertical execution.Mminutes from the Tacoma Dome and Downtown core. Quick access to I-5, Hwy 16, the Tacoma Link Light Rail extensions, and the Sounder Train at Tacoma Dome Station. 1–2 miles of University of Washington Tacoma (UWT), MultiCare Tacoma General Hospital, St. Joseph Medical Center.Walkable urban hub.permitted plans included in price
Location
State WA
County Pierce
Area 45 - South Tacoma
Interior
Fireplace false
Exterior
Utilities Available Electricity Available, Natural Gas Available
View Y/N Yes
View City, Mountains, Territorial
Building
Lot Description Corner Lot, Curbs, Paved, Sidewalk
Sewer In Street
Water In Street
Schools
Elementary Schools Buyer To Verify
Middle Schools Buyer To Verify
High Schools Buyer To Verify
School District Tacoma
Others
Senior Community No
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
"Three Trees" icon indicates a listing provided courtesy of NWMLS.
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