5416 S M Street, Tacoma, WA 98408

Property Description

This listing courtesy of Jonathan D. Bye, John L. Scott, Inc

White Rock Apartments is a fully renovated 30-unit community in Tacoma, WA, offering modern studio units with high-quality finishes and strong tenant appeal. Renovations completed between 2022 and 2025 include upgraded interiors and exteriors, while community amenities feature laundry facilities, parking, and potential storage income. With an in-place 5.85% cap rate, attractive financing options, and upside through rent adjustments and operational improvements, the property provides investors a rare opportunity to achieve projected stabilized returns of 7.87% in a high-demand, affordable Puget Sound market. Located in Tacoma’s South End, an up-and-coming neighborhood where affordability meets everyday convenience.

Listing Status:

Active

Listing Office:

John L. Scott, Inc : 253-852-9200

Listing Agent:

Jonathan D. Bye : 253-852-9200

MLS ID:

2428904

Interior

• Flooring: Vinyl Plank
• A/C: Central A/C
• Heating: Forced Air
• Fireplace: Fireplaces: 0

Exterior

• General: Wood
• Parking: Parking spaces: 15

Construction

• Roofing: Flat
• General: 56 - 10+ Units

Location

• HOA Amenities: 0.0
• Originating MLS: nwmls
• School District: Tacoma
• County: Pierce

Lot

• Zoning: 7785006910

Utilities

• Water: Public
• Sewer: Sewer Connected

Financial

• Source: nwmls

This listing courtesy of Jonathan D. Bye, John L. Scott, Inc