Sold

Listed by: Paragon Real Estate Advisors • Tanner Fogle

Bought with: Keasy Property Management

$940,000

801 Martin Luther King Jr. Way, Tacoma, WA 98405

6beds

7baths

4,920sqft

Multi Family

Built in 1931

-- sqft lot

$-- Zestimate^®

$191/sqft

$2,906 Estimated rent

Home value

Not available

Estimated sales range

Not available

$2,906/mo

Zestimate^® history

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What's special

Updated windowsThoughtful updatesVintage characterNew roof

The Kelley Arms Apartments is a 7-unit multifamily property located in the heart of Downtown Tacoma’s 6th Ave Business District. The asset combines vintage character with thoughtful updates, offering a boutique investment opportunity in one of Tacoma’s most walkable and transit-connected neighborhoods. Originally built in 1931, the property is well-positioned for a new owner to take advantage of immediate rental upside. The unit mix includes six one-bedroom units averaging 770 square feet and one studio unit at 300 square feet. Recent capital improvements include a new roof installed in 2021 and updated windows within the last four years.

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 6
Bathrooms: 7

Heating

Radiant, Electric

Cooling

None

Features

Has fireplace: No

Interior area

Total structure area: 4,920
Total interior livable area: 4,920 sqft

Property

Lot

Size: 3,249 Square Feet

Details

Parcel number: 2008210010
Special conditions: Standard

Construction

Type & style

Home type: MultiFamily
Architectural style: 5-9 Units
Property subtype: Multi Family

Materials

Brick
Roof: Flat

Condition

Year built: 1931

Utilities & green energy

Sewer: Sewer Connected

Community & HOA

Community

Subdivision: North Tacoma

Location

Region: Tacoma

Financial & listing details

Price per square foot: $191/sqft
Tax assessed value: $1,100,600
Annual tax amount: $10,768
Date on market: 8/30/2025
Cumulative days on market: 326 days
Listing terms: Conventional

Price history

Date	Event	Price
12/1/2025	Sold	$940,000-3.6%$191/sqft
Source: NWMLS as distributed by MLS GRID #2391945 Report a problem
10/13/2025	Pending sale	$975,000$198/sqft
Source: NWMLS as distributed by MLS GRID #2391945 Report a problem
8/21/2025	Price change	$975,000-11%$198/sqft
Source: NWMLS as distributed by MLS GRID #2391945 Report a problem
6/12/2025	Listed for sale	$1,095,000+30.4%$223/sqft
Source: NWMLS as distributed by MLS GRID #2391945 Report a problem
7/1/2019	Sold	$840,000+197%$171/sqft
Source: Public Record Report a problem
10/16/2003	Sold	$282,852$57/sqft
Source: Public Record Report a problem

Public tax history

Year	Property taxes	Tax assessment
2024	$11,967 +11.1%	$1,100,600 +13.7%
2023	$10,768 +7.2%	$968,400
2022	$10,044 +4.2%	$968,400 +15.1%
2021	$9,639 +16.4%	$841,500 +19.9%
2019	$8,281 +3.3%	$701,800 +10%
2018	$8,013 +17.6%	$638,000 +25.6%
2017	$6,811 +5.1%	$507,800 +26%
2016	$6,482	$403,100 +8%
2014	$6,482 -5.9%	$373,200 -5%
2013	$6,885	$392,800
2012	--	$392,800 -1.7%
2011	--	$399,400 -6.1%
2010	--	$425,500 -11.8%
2009	--	$482,300 -3.8%
2008	$5,596	$501,600 +4.8%
2007	$5,596 +77.6%	$478,800 +160.2%
2002	$3,151 +36.6%	$184,000
2001	$2,307	$184,000 +39.9%
2000	$2,307	$131,500