Kelley Arms Apartments 801 Martin Luther King Jr Way Immeuble residentiel 7 lots 947 503 € (135 358 €/Lot) Tacoma, WA 98405

Paragon Real Estate Advisors presents Kelley Arms Apartments, a 7-unit multifamily property located in the heart of Downtown Tacoma’s 6th Ave Business District. The asset combines vintage character with thoughtful updates, offering a boutique investment opportunity in one of Tacoma’s most walkable and transit-connected neighborhoods.
Originally built in 1931, the property is well-positioned for a new owner to take advantage of immediate rental upside. The unit mix includes six one-bedroom units averaging 770 square feet and one studio unit at 300 square feet. Recent capital improvements include a new roof installed in 2021 and updated windows within the last four years.
Just two blocks from the LINK Light Rail 6th Ave Station, and less than one mile from both the Stadium District and Wright Park, the location provides residents with convenient access to Tacoma’s urban core, parks, shopping, and entertainment.
Priced at $1,095,000, or $156,428 per unit, the asset allows an incoming investor to make strategic improvements while maintaining an attractive basis relative to comparable properties. The area benefits from ongoing public infrastructure investment, proximity to major employment centers, and continued migration from Seattle, positioning Kelley Arms as a strong opportunity for both immediate income and long-term value.