Currently configured as a duplex, this historic Victorian Foursquare features water views and easy access to Old Town shops and restaurants. Two one bed, one bath apartments offer $48K in projected annual gross income.
Old Town Duplex with Water Views
2119 N 26th St
Tacoma, WA
Two 1 bed/1 bath units | 1,408 sq.ft. total
Offered at $750,000
Property Details
Located on a quiet street just a few blocks from Old Town shops and restaurants, this 1907 Victorian Four Square enjoys commanding views of Commencement Bay and Vashon Island.
The property is currently configured as a duplex with two 1 bed, 1 bath apartments and projected annual gross revenues of $48K. Though vacancies are rare, both units will be delivered vacant. The units are separately metered, each with its own laundry facilities, and they share a fenced back yard and a large unfinished basement for storage.
The lower unit has a large view deck, and there’s a parking pad off the alley. The property, which is surrounded by million dollar homes, could easily be converted back to a single family residence.
Features
- House is 1,408 SF
- Lot is 3,724 SF
- Two 1 bed/1ba units
- Separately metered
- Fir floors
- Separate laundry areas
- Water views
- Unfinished basement
- Large view deck
- Parking pad
- Low vacancy rate
- $48K gross annual rent
Annual Expenses
Property taxes = $8144
Insurance = $1400
Utilities = $2459
Miscellaneous = $500
Cap Rate = 4.73%
Common Features
Unfinished basement for storage
Fenced back yard
Parking pad off the alley
Unit 1 (ground floor)
One bedroom
One bathroom
794 SF
Fir floors
Dishwasher and built-in microwave
Dedicated laundry
Private view deck
Projected rent = $2200/month
Unit 2 (upstairs)
One bedroom
One bathroom
616 SF
Dedicated laundry
Projected rent = $1800/month
Old Town
Many consider historic Old Town to be Tacoma’s “birthplace.” Civil War veteran Job Carr built a cabin here on the shores of Commencement Bay in 1865, and a small fishing village soon developed around it as other new immigrants arrived. Carr’s cabin later became the town post office, and a replica of the cabin now serves as a museum in Old Town Park. The park is also home to a series of summer concerts, including an annual jazz festival.
Today’s Old Town business district offers a quaint assortment of shops, restaurants and amenities, including The Spar (Tacoma’s oldest saloon), the Northern Fish Company, the Old Town Dock and the Silver Cloud Hotel. The neighborhood offers easy access to the waterfront, Point Ruston, the Stadium District and downtown Tacoma.
2119 N 26th St is offered at $750,000. Please contact us directly to schedule a showing today.
Contact
Jeff Williams & Mark Pinto