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1405 Martin Luther King Jr Way
Tacoma, WA 98405 Stadium District

$1,350,000 USD

Apartments For Sale • 5,680 SF

Property Details

Property Type Apartments
Total Building Size 5,680 SF
Lot Size 0.15 AC
Building Class C
Year Built 1968
Cap Rate 7.29 %
Zoning NCX

40 Transit Score

80 Walk Score

                
                    Highlights
                
                                Fully occupied 10-unit multifamily property with stable tenancy and staggered lease expirations through 2026.
                            
                                Located along Martin Luther King Jr Way, providing easy access to downtown Tacoma, Stadium District, and regional transit options.
                            
                                Positioned near major destinations including hospitals, the University of Washington Tacoma campus, retail corridors, and entertainment districts.
                            
                                Recently updated property with on-site laundry, off-street parking, and additional storage for tenant convenience.

Property Flyers

OM - 1405 MLK Jr Way, Tacoma

Financial Summary (Actual)

Net Operating Income: $98,482 USD (2025)

Cap Rate:	7.29 %
Total Expenses:	$44,078 USD

Amenities

Laundry Facilities
Heating
Pet Play Area
Kitchen
Refrigerator
Range
Tub/Shower
Dining Room
Linen Closet
Public Transportation
Private Bathroom
Smoke Detector

Public Transportation

Commuter Rail	Drive	Walk	Distance
Tacoma Dome Station (Sounder South Line - Central Puget Sound Regional Transit Authority Rail (Link Light Rail/Sounder), Tacoma Link - Central Puget Sound Regional Transit Authority Rail (Link Light Rail/Sounder))	6 min	-	1.8 mi
	11 min	-	4.8 mi
Transit/Subway	Drive	Walk	Distance
Convention Center/South 15th (Tacoma Link - Central Puget Sound Regional Transit Authority Rail (Link Light Rail/Sounder))	2 min	13 min	0.7 mi
Union Station/South 19th (Tacoma Link - Central Puget Sound Regional Transit Authority Rail (Link Light Rail/Sounder))	4 min	19 min	1.0 mi
Theater District/South 9th (Tacoma Link - Central Puget Sound Regional Transit Authority Rail (Link Light Rail/Sounder))	3 min	19 min	1.0 mi
Airport	Drive	Walk	Distance
Seattle-Tacoma International	38 min	-	23.1 mi

Parking Details

Parking Available:	Yes
Reserved:	No
Spaces Provided:	6
Type:	Surface
Included in Rent:	Yes

Ronald Dudley 253-640-6688 Theory Real Estate

1405 Martin Luther King Jr Way Tacoma, WA 98405 Stadium District