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Real Broker LLC
920 S 9th Street, Tacoma, WA 98405
- $1,450,000
- 7,155
- SqFt
Listing Broker: John L. Scott, Inc; Jonathan D. Bye; 206-400-7586; transactions@jonbye.com
- List Price
- $1,450,000
- Status
- ACTIVE
- MLS#
- 2602630
- Style
- 55 - 5-9 Units
- Finished SqFt
- 7,155
- Area Total SqFt
- 7155
- Annual Tax Ammount
- 15604
- Lot Size (sq ft)
- 4,293
- Sewer
- Sewer Connected
Property Description
The McIlvaine Apartments is a beautifully preserved eight-unit historic apartment community located in Tacoma's rapidly evolving Hilltop neighborhood. Originally constructed in 1912, this charming wood-frame building showcases timeless architectural character that continues to resonate with today's renters. The asset received its historic designation in 2018 & was added to the Tacoma Register of Historic Places after current ownership performed substantial rehabilitation which exceeded $240,000. The 10-year designation, which began in 2019 & can be extended, grants the property a special tax exemption, which lowers the taxable value by nearly $210,000. Giving a new owner continued savings on operating costs for several years. The property features an attractive unit mix of spacious one- & two-bedroom apartments ranging from approximately 850 to 1,000 sq ft. Each residence highlights the craftsmanship of the early 20th century with original crown molding, hardwood flooring, built-in cabinetry, solid wood doors, arched passageways & elegant columns. While preserving its historic appeal, ownership has thoughtfully modernized the interiors with contemporary finishes, including white shaker cabinetry, quartz countertops, stainless steel appliances, dishwashers & in-unit washers & dryers, creating a highly desirable blend of historic charm & modern convenience. Top floor units additionally feature a small office study room with beautiful regional views that include Mt. Rainier.
Additional Information
- Community
- Tacoma
- Net Operating Income
- $96,460
- Gross Adjusted Income
- $164,057
- Gross Scheduled Income
- $155,520
- Total Monthly Income
- $12,960
- Insurance Expenses
- $8,553
- Water/Sewer/Garbage Expenses
- $17,218
- Gross Rent Multiplier
- 9.32
- Total Expenses
- $67,597
- Cap Rate
- 6.65
- Vacancy Rate
- 5
- Total Number of Units
- 8
- Unit Name
- 920
- Potential Terms
- Cash, Conventional
- Year Built
- 1912
- Roof
- Flat
- Site Features
- Cable TV, High Speed Internet, Patio
- Other Expenses
- 26222
- Energy Source
- Electric
- School District
- Tacoma
- Total Monthly Income
- $12,960
- Gross Scheduled Income
- $155,520
- Vacancy Rate
- 5
- Gross Adjusted Income
- $164,057
- Tax Year
- 2026
- Insurance Expense
- $8,553
- W/S/G Expenses
- $17,218
- Total Expenses
- $67,597
- Net Operating Income
- $96,460
- Gross Rent Multiplier
- 9.32
- Cap Rate
- 6.65
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.