16020 38th Ave E

About the property:

Why not make the rising Pierce County rental market work for you? If you're going to invest in multi-family, go where the returns are strongest. Suburban Pierce County has not only higher cap rates, but lower vacancy. Your returns are all the more lucrative when you consider how updated this duplex is: new roof, updated electrical, and a complete renovation of one of the units. Vacant units means you can start right away at market rate, and reap the rewards of this near-acre investment opportunity.

  • Neighborhood: Spanaway
  • Price: $620,000
  • Status: sold
  • Address: 16020 38th Ave E, Tacoma, WA, USA
  • Size: 2,520 Sq. Ft
  • Rooms: 4 bedrooms, 4 baths

Location information:

Neighborhood multi-family statistics:

    1. 327K 2018
    2. 419K 2019
    3. 425K 2020
    4. 515K 2021

    Median Sales Price

  • Average

  • Average Year Built


Neighborhood summary:

  • Less than 20 minutes from JBLM.

  • Close to Mount Rainier.

  • Pacific Lutheran University college rental potential.

  • Quiet suburb with acreage properties.

More on the neighborhood:

Spanaway is a quiet suburb of Tacoma, located in the middle of unincorporated Pierce County. It is centrally located: attractions like Mount Rainier and popular public waterfronts are easily accessible, as are major employers like Joint Base Lewis-McChord and nearby major hospitals. Lot sizes tend to be larger, and the character of buildings is predominantly mid-century to 90's. While the area is overwhelmingly single family residential, there is an established pocket of multi-family dwellings, and a strong rental market due to the base as well as PLU.

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