5416 S M St

Tacoma, WA 98408

$4,150,000
Price
—
Beds
6
Baths
12,672 Sq. Ft.
$327 / Sq. Ft.
12,672
Sq. Ft.
$327
per Sq. Ft.
Listing provided courtesy of John L. Scott, Inc

Description

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...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.
  1. Listed by Jonathan D. Bye • John L. Scott, Inc

Property Details for 5416 South M Street

Community Name
South Tacoma
School District
Tacoma
Number of Assigned Spaces
15
Total Covered Parking
0
Entry Date
09-05-2025
Energy Source
Electric
Sewer
Sewer Connected
LISTING UPDATED: 11/20/2025 03:28 PM

Property Details for 5416 South M Street

StatusActive
MLS #2428904
Days on Market101
Cumulative Days on Market101
Taxes$38,845 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1963
Lot Size0.34 AC / 14,625 SF
CountyPierce County

Location

Listing Courtesy of John L. Scott, Inc
Add your commute

Building Information for 5416 South M Street

Stories2Residences6Year Built1963Building Size-Lot Size0.34 AC / 14,625 SF

Payment Calculator

$23,744 per month

30 year fixed, 6.28% Interest

Principal and Interest

$20,507

Property Taxes

$3,237

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 5416 South M Street

Summary
Location and General Information
  • Style: 56 - 10+ Units
  • Area: 51 - South Tacoma
  • Directions: From I-5, Take exit 130 for 56th St toward Tacoma Mall Blvd, merge onto S 56th St, turn Left on S M St, Apartment complex on Left.
  • Leased Items: None
  • Property Sub Type: MULT
  • View: No
  • Waterfront: No
Taxes and HOA Information
  • Tax Year: 2025
Parking
  • Number of Carport Spaces: 0.0
  • Carport: No
  • Open Parking Spaces: 15.0
  • Open Parking: Yes
Interior and Exterior Features
Bathroom Information
  • Full Baths Upper: 0
  • Three Quarter Baths Upper: 0
  • Half Baths Upper: 0
  • Main Level Bathrooms: 0
Bedroom Information
  • Bedrooms Upper: 0
Interior Features
  • Fireplaces Total: 0
  • Floor Covering: Vinyl Plank
  • Amenities: Coin Op Laundry,Storage
  • Cooling: Yes
  • Cooling: Central A/C
  • Fireplace: No
  • Heating: Yes
  • Heating: Forced Air
  • FIRPTA: No
Exterior Features
  • Exterior: Wood
  • Roof: Flat
Property
Utilities
  • Water Source: Public
  • Water/Sewer/Garbage: 31537
  • Power Production Type: Electric
Property and Assessments
  • New Construction YN: No
  • MLS Square Footage Source: Title
  • Preliminary Title Ordered: Yes
  • Senior Community: No
  • Special Listing Conditions: None
  • Photos Count: 13
Lot Information
  • Lot Details: Curbs, Paved, Sidewalk
  • Lot Size Source: Title
  • Parcel Number Free Text: 7785006910
  • Calculated Square Footage: 12672
  • Structure Type: Multi Family
  • Square Footage Finished: 0
  • Square Footage Unfinished: 0
  • Building Area Total: 12672.0
  • Building Area Units: Square Feet
  • Property Type: Residential Income
  • Elevation Units: Feet
  • Irrigation Water Rights: No
Multi Family
Building Details
  • Number of Uncovered Spaces: 15
  • Number of Stories in Building: 2
  • Vacancy Rate: 5
  • Number Of Units Total: 6
  • Units Below Grade: false
  • Units In Building Total: 30
Financing / Income and Expenses
  • Electric Expense: $0
  • Total Expenses: 162562
  • Gross Adjusted Income: 486964
  • Gross Rent Multiplier: 9.41
  • Gross Scheduled Income: $441,000
  • Insurance Expense: $32,036
  • Net Operating Income: $324,402
  • Other Expenses: $60,144
  • Total Monthly Income: 40279
  • Fuel Expense: $0
Unit 1
  • Name Unit 1: 3
  • Washer/Dryer Unit 1: false
  • Range/Oven Unit 1: true
  • Refrigerator Unit 1: true
  • Dishwasher Unit 1: true
  • Square Feet Unit 1: 413
  • Rent Unit 1: $1,031.00
  • Bedrooms Unit 1: 0
  • Fireplaces Unit 1: 0
  • Bathrooms Unit 1: 1
Unit 2
  • Name Unit 2: 2
  • Washer/Dryer Unit 2: false
  • Range/Oven Unit 2: true
  • Refrigerator Unit 2: true
  • Dishwasher Unit 2: true
  • Square Feet Unit 2: 413
  • Rent Unit 2: $1,031.00
  • Bedrooms Unit 2: 0
  • Fireplaces Unit 2: 0
  • Bathrooms Unit 2: 1
Unit 3
  • Name Unit 3: 6
  • Washer/Dryer Unit 3: false
  • Range/Oven Unit 3: true
  • Refrigerator Unit 3: true
  • Dishwasher Unit 3: true
  • Square Feet Unit 3: 413
  • Rent Unit 3: $1,031.00
  • Bedrooms Unit 3: 0
  • Fireplaces Unit 3: 0
  • Bathrooms Unit 3: 1
Unit 4
  • Name Unit 4: 4
  • Washer/Dryer Unit 4: false
  • Range/Oven Unit 4: true
  • Refrigerator Unit 4: true
  • Dishwasher Unit 4: true
  • Square Feet Unit 4: 413
  • Rent Unit 4: $1,031.00
  • Bedrooms Unit 4: 0
  • Fireplaces Unit 4: 0
  • Bathrooms Unit 4: 1
Unit 5
  • Name Unit 5: 1
  • Washer/Dryer Unit 5: false
  • Range/Oven Unit 5: true
  • Refrigerator Unit 5: true
  • Dishwasher Unit 5: true
  • Square Feet Unit 5: 413
  • Rent Unit 5: $1,031.00
  • Bedrooms Unit 5: 0
  • Fireplaces Unit 5: 0
  • Bathrooms Unit 5: 1
Unit 6
  • Name Unit 6: 5
  • Washer/Dryer Unit 6: false
  • Range/Oven Unit 6: true
  • Refrigerator Unit 6: true
  • Dishwasher Unit 6: true
  • Square Feet Unit 6: 413
  • Rent Unit 6: $1,031.00
  • Bedrooms Unit 6: 0
  • Fireplaces Unit 6: 0
  • Bathrooms Unit 6: 1
Rental
Rent Information
  • Occupant Type: Vacant
  • Leasable Area: 12390.0

Property History for 5416 South M Street

DateEvent & SourcePriceAppreciation
Sep 5, 2025

Listed (Active)

NWMLS #2428904

$4,150,000—
Jun 20, 2018

Sold (Public Record)

Public Record #624945600

$2,000,000—
DateEvent & SourcePrice
09/05/2025

Listed (Active)

NWMLS #2428904

$4,150,000
06/20/2018

Sold (Public Record)

Public Record #624945600

$2,000,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 5416 South M Street

Taxable ValueLand$288,000Additions$3,183,000Total$3,471,000
Tax Record2025$37,714 ($3,143 / month)
Home Facts
Total Finished SqFt4,224 SqFtAbove Ground SqFt4,224 SqFtStories2Lot Size14,625 SqFtStyleMulti-Family Res (5+ Units)Year Built1963Year Renovated1998ZoningC1CountyPIERCEAPN7785006910

Schools near 5416 South M Street

This home is within Tacoma School District.
Rating
School
Type
Grades
Distance
Mann Elementary School
Public - PK to 5
Angelo Giaudrone Middle School
Public - 6 to 8
Lincoln High School
Public - 9 to 12
School of Industrial Design Engineering And Art (iDEA)
Public - 9 to 12
Rating
School
Distance
Mann Elementary School
PublicPK to 5

Angelo Giaudrone Middle School
Public6 to 8

Lincoln High School
Public9 to 12

School of Industrial Design Engineering And Art (iDEA)
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 5416 South M Street, Tacoma, WA 98408

5416 South M Street is a multi-family home for sale in Tacoma, WA 98408. This property was listed for sale on September 5, 2025 by John L. Scott, Inc, it's currently listed at $4,150,000. It has been on the market for a total of 101 days and was last sold on June 20, 2018. This listing's school district is Tacoma School District. Nearby schools include Mann Elementary School, Angelo Giaudrone Middle School and Lincoln High School. 5416 South M Street is a 0-bed, 6-bath, 12,672 sqft multi-family home built in 1963.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of John L. Scott, Inc

Properties displayed may be listed or sold by various participants in the MLS. Based on information submitted to the MLS GRID as of 12/15/2025 03:51 PM. All data is obtained from various sources and may not have been verified by broker orMLS GRID. Supplied Open House Information is subject to change without notice. All informationshould be independently reviewed and verified for accuracy. Properties may or may not be listed bythe office/agent presenting the information.