1319 S 9 Street, Tacoma, WA 98405

Property Description

Sheridan Apartments | 9-Unit Fully Renovated Multifamily | 100% Occupied | $122,921 NOI Rare opportunity to acquire a fully stabilized, turnkey 9-unit asset in the heart of Central Tacoma. Sheridan Apartments offers immediate in-place cash flow with $194,000 gross income and $122,921 NOI, delivering strong performance from day one. This early 1900s Craftsman property has been extensively renovated, including fully updated interiors and a major electrical upgrade. There is no deferred maintenance, making this an ideal solution for investors seeking a low-management, quality asset. The diverse unit mix includes 2 detached homes, 5 apartment units, and 2 townhomes, creating strong tenant appeal and income stability. The property is 100% occupied and has demonstrated significant rent growth over the past several years, reflecting both operational strength and Tacoma’s expanding rental market. Located in Central Tacoma with a Walk Score of 86, the property benefits from proximity to JBLM, major healthcare employers, and multiple higher education campuses. JBLM alone supports over 52,000 employees with substantial off-base housing demand, reinforcing long-term rental stability. Whether completing a 1031 exchange or adding a stabilized asset to your portfolio, Sheridan Apartments provides immediate income, renovation quality, and long-term upside in one of Washington’s most supply-constrained markets.

Listing Status:

Active

Data Last Updated:

May 20, 2026 at 11:21PM

Listing Office:

Keasy Property Management : 425-786-7542

Listing Agent:

Liat Arama : 425-786-7542

MLS ID:

2485504

Interior

• A/C: None
• Heating: Baseboard
• Fireplace: Fireplaces: 0

Exterior

• General: Wood
• Parking: Parking spaces: 0

Construction

• Roofing: Flat
• General: 55 - 5-9 Units

Location

• HOA Amenities: 0.0
• Originating MLS: nwmls
• School District: Tacoma
• County: Pierce

Lot

• Zoning: 2008270080

Utilities

• Water: Public
• Sewer: Available

Financial

• Source: nwmls