615 Martin Luther King Jr Way, Tacoma, WA 98405

Property Description

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.

Listing Status:

Active

Data Last Updated:

July 6, 2026 at 2:19AM

Listing Office:

Keller Williams Realty : 253-848-5304

Listing Agent:

Steve Hiatt : 253-848-5304

MLS ID:

2533311

Interior

• Flooring: Ceramic TileLaminateCarpet
• A/C: None
• Heating: Wall Furnace
• Fireplace: Fireplaces: 0

Exterior

• General: Wood Products
• Parking: Parking spaces: 3

Construction

• Roofing: Composition
• General: 52 - Duplex

Location

• HOA Amenities: 0.0Not Applicable
• Originating MLS: nwmls
• School District: Tacoma
• County: Pierce

Lot

• Zoning: 2006210070
• View: BayCityView

Utilities

• Water: Public
• Sewer: Sewer Connected

Financial

• Source: nwmls