522 E 32nd Street A-D

Tacoma, WA98404

Meticulously maintained view fourplex in a prime Tacoma location, owned and cared for by the same owner for over 30 years. Built in 1992, this property offers a rare combination of strong in-place cash flow, pride of ownership, and clear upside potential. Each unit includes its own washer and dryer—no shared laundry—and tenants benefit from a detached 4-car garage with individual bays, plus ample off-street parking. The standout feature here is the view—sweeping, unobstructed sightlines of Commencement Bay, the Tacoma Dome, and the downtown skyline from every unit, including the lower level. This is a true “all units have a view” asset, which is extremely rare in this price point. Recent capital improvements provide peace of mind for years to come, including a newer roof, exterior paint, and new Milgard windows. In 2025, the city completed streetscape improvements including new sidewalks and lighting, transforming the immediate area into a park-like setting and materially enhancing curb appeal and long-term desirability. Rents are well below market with long-term, month-to-month tenants, creating immediate value-add potential. At current rents, the property is being offered at a 6.5% cap rate, with a clear path to approximately an 8% cap at market rents. Minimal deferred maintenance + below-market rents = clean, low-risk value-add. One unit has been intentionally left vacant for ease of showings and to accommodate an owner-occupant buyer.

Courtesy of NWMLS
Listing courtesy of Charles Burnett of Real Broker LLC



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Last checked: 2026-04-14 08:50 AM PDT