522 E 32nd Street, Tacoma, WA 98404 (MLS # 2484059)
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Listing provided courtesy of Northwest MLS; Triplar Properties
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Introducing a rare multifamily opportunity in Tacoma featuring stunning views of Commencement Bay and Downtown Tacoma. Tucked away in a quiet setting, this well-maintained asset combines strong in-place income with significant upside potential.Recent capital improvements provide peace of mind for years to come, including a new roof (2022), exterior paint (2023), and new Milgard windows installed at the rear of the building. The property is also equipped with a sprinkler system for the yard for easy yard maintenance. In 2025, the city enhanced the neighborhood with new sidewalks and street lighting, further improving curb appeal and long-term desirability. Each unit features its own private garage, a highly attractive amenity that drives tenant demand and retention. Utilities are currently paid by the owner, offering a clear value-add opportunity for future expense optimization and increased cash flow. Rents are below market, presenting substantial upside for an investor looking to capture growth in a strong location. Residents enjoy close proximity to downtown, shopping, schools, and public transit, all while benefiting from a peaceful residential environment with panoramic water and city views. Pierce county has the property assessed at $1,049,500 for year 2025. This is a turnkey asset with built-in equity growth potential in one of the South Sound's most desirable rental corridors.
| LAST UPDATED | 2/24/2026 | TRACT | McKinley |
|---|---|---|---|
| YEAR BUILT | 1992 | COMMUNITY | McKinley |
| GARAGE SPACES | 4.0 | COUNTY | Pierce |
| STATUS | Active | PROPERTY TYPE(S) | Multi Family |
| ADDITIONAL DETAILS | |
| AIR | None |
|---|---|
| AREA | 58 - Southeast Tacoma |
| CONSTRUCTION | Wood Siding |
| GARAGE | Yes |
| HEAT | Electric |
| LOT | 6499 sq ft |
| LOT DESCRIPTION | Corner Lot, Paved, Sidewalk |
| MLS STATUS | Active |
| STORIES | 2 |
| STYLE | 54 - 4-Plex |
| SUBDIVISION | McKinley |
| TAXES | 11101 |
| UTILITIES | Sewer Connected |
| VIEW | Yes |
| VIEW DESCRIPTION | Bay, City, Sound |
| SATELLITE VIEW |
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Properties with the 
icon are courtesy of Northwest MLS.
Listings courtesy of Northwest MLS as distributed by MLS GRID. Based on information submitted to the MLS GRID as of 2/25/26 8:42 AM PST. All data is obtained from various sources and may not have been verified by broker or MLS GRID. IDX information is provided exclusively for consumers’ personal noncommercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. 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.
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