1017 S I Street

Tacoma, WA98405

Updated Tacoma duplex in a prime location within walking distance of light rail and close to downtown amenities. The up-down configuration features 2-bedroom, 1-bath units, each with a living area, kitchen, and its own laundry. There are no shared interior spaces, and electricity and water are separately metered. A comprehensive remodel from the studs out in 2016 included a new roof, windows, plumbing, electrical systems, and much more. The lower unit rents for $1,600 per month to a reliable, long-term tenant, while the recently vacated upper unit offers flexibility to move in, lease long term, or explore short-term rental use. The upper unit previously operated as a successful Airbnb benefiting from its proximity to downtown Tacoma. The projected 6.38% cap rate assumes an upper-unit rent of $1,600 per month — matching the rate of the lower unit and below current market rent — leaving additional income potential beyond the stated projection. Overall, this is an excellent investment opportunity with a proven rental track record and the added flexibility of owner occupancy.

Courtesy of NWMLS
Listing courtesy of Drew Staudt of Windermere Prof Partners



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Last checked: 2026-10-24 03:49 PM PDT