2902 N Carr, Tacoma, WA 98403
- $3,800,000
Listing courtesy of Kidder Mathews.
- List Price
- $3,800,000
- Status
- ACTIVE
- MLS#
- 2538805
- Days on Market
- 45
- Style
- 56 - 10+ Units
- Annual Tax Ammount
- 27817
- Lot Size (sq ft)
- 18,000
- Sewer
- Sewer Connected
Property Description
Built in 1968 and positioned on the corner of Carr Street and N 30th Avenue, Harbor View Apartments occupies one of Old Town Tacoma's most coveted residential addresses. The property's strategic location places residents at the heart of one of Tacoma's most vibrant and historically rich neighborhoods, with immediate access to the boutique shops, acclaimed restaurants, and waterfront amenities that define the Old Town experience. 6 of the 16 units have been recently renovated with modern finishes and in-unit washer & dryer. Many of the units enjoy sweeping water views of Commencement Bay. The property features a desirable unit mix of eight one-bedroom homes averaging 722 square feet and eight two-bedroom homes averaging 925 square feet, providing a well-balanced offering that appeals to a broad spectrum of renters. Currently 100% occupied, Harbor View demonstrates the enduring and consistent rental demand that characterizes well-located assets in supply-constrained submarkets. With in-place rents of approximately $24,400 per month against a market rent potential of approximately $30,000 per month, the property presents a compelling value-add opportunity with nearly $5,600 per month in proven rent upside through a thoughtful interior modernization program
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Additional Information
- List Date
- 2026-06-11 14:59:13
- Community
- Old Town
- Net Operating Income
- $198,411
- Gross Adjusted Income
- $300,833
- Gross Scheduled Income
- $316,666
- Total Monthly Income
- $23,484
- Insurance Expenses
- $7,351
- Water/Sewer/Garbage Expenses
- $22,819
- Gross Rent Multiplier
- 12
- Total Expenses
- $102,422
- Cap Rate
- 5.2
- Vacancy Rate
- 5
- Total Number of Units
- 16
- Unit Name
- 2902
- Potential Terms
- Conventional
- Year Built
- 1968
- Roof
- Composition
- Other Expenses
- 44435
- Energy Source
- Electric
- School District
- Tacoma
- Total Monthly Income
- $23,484
- Gross Scheduled Income
- $316,666
- Vacancy Rate
- 5
- Gross Adjusted Income
- $300,833
- Tax Year
- 2026
- Insurance Expense
- $7,351
- W/S/G Expenses
- $22,819
- Total Expenses
- $102,422
- Net Operating Income
- $198,411
- Gross Rent Multiplier
- 12
- Cap Rate
- 5.2
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.