Fully Approved 13-Unit Development Opportunity | Tacoma Shovel-ready infill project with zero entitlement risk. City building & site development permits are fully approved-just pay issuance fees, attend one pre-con meeting, and pull permits to break ground.Project Highlights: Lot: 4,563 SF corner parcel at S G & S 23rd St; Downtown Residential (DR) zoning, zero yard setbacks & alley access Program: 13 units (4 studios, 9 one-bedrooms) totaling 6,244 net SF Structure: 4-story Type VA wood-frame, R-2 occupancy, NFPA 13R fire suppression Permits: Approved Graves architectural set (BLDCN23-0082, SDEV23-0391, WO23-0145) Tax Advantage: Eligible for Tacoma's 12-Year MFTE property tax exemption, boosting stabilized NOI The Numbers: Hard costs track well below King County at ~$210-$255/gross SF Strong demand from UW Tacoma, MultiCare, Port of Tacoma & JBLM Projected gross rent: $20,500-$22,500/mo at ~95% occupancy (Studios: $1,250-$1,400 | 1-BD: $1,550-$1,850)Entitlement Risk Removed: Architectural review, SEPA, civil engineering, and city planning cycles are complete. Eliminate the soft-cost burn and step directly into vertical execution.Mminutes from the Tacoma Dome and Downtown core. Quick access to I-5, Hwy 16, the Tacoma Link Light Rail extensions, and the Sounder Train at Tacoma Dome Station. 1-2 miles of University of Washington Tacoma (UWT), MultiCare Tacoma General Hospital, St. Joseph Medical Center.Walkable urban hub.permitted plans included in price
| MLS # | 2594232 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Days On Site | 20 |
| Listing Provided By | Skyline Properties, Inc. | Donna Marshall |
| Zoning | DR |
|---|---|
| Acreage | 0.10 |
| Property View | Yes |
| State | WA |
|---|---|
| County | Pierce |
| City | Tacoma |
| Zip Code | 98405 |
| Area | 45 South Tacoma |
| Community Name | South Tacoma |
| School District | Buyer To Verify |
| Elementary School | Buyer To Verify |
| High School | Buyer To Verify |
| Listing VS Median (in South Tacoma) | |
Price: $799,000 low | high Med: $420,000 On site: 20 low | high Med: 55 | |
| State | WA |
|---|---|
| County | Pierce |
| City | Tacoma |
| Zip Code | 98405 |
| Area | 45 South Tacoma |
| Community Name | South Tacoma |
| School District | Buyer To Verify |
| Elementary School | Buyer To Verify |
| High School | Buyer To Verify |
| Listing VS Median (in South Tacoma) | |
Price: $799,000 low | high Med: $420,000 On site: 20 low | high Med: 55 | |
![]() | $849,9992325 G StreetTacoma, WA 98408 |