2120 S J Street, Tacoma, WA 98405 (MLS # 2464306)
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Listing provided courtesy of Northwest MLS; Berkshire Hathaway HS NW
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Rare shovel-ready, fully permitted 20-unit multifamily development opportunity with approved plans included, allowing developers to begin construction immediately in one of Tacoma's strongest urban corridors. The seller is open to a joint venture structure or partial seller financing, creating flexible capital options for builders and investors. Approved for a 20-unit apartment building featuring efficiently designed one-bedroom units averaging approximately 450 SF, the project is designed for strong rental demand and qualifies for Tacoma's 12-Year Multifamily Tax Exemption (MFTE), providing substantial 12-year property tax savings on residential improvements. Ideally located just minutes from UW Tacoma, four minutes to downtown Tacoma, and only two blocks from the Tacoma Link light rail, creating a compelling transit-oriented multifamily development opportunity near major employers, education, and urban amenities. The site also offers views of Mount Rainier and the Tacoma skyline, further enhancing tenant appeal. Few fully entitled multifamily development sites remain in this rapidly growing Tacoma corridor, making this a compelling opportunity for developers seeking a ready-to-build project in a high-demand location. Renderings shown are of the approved project and do not represent current site conditions.
| LAST UPDATED | 3/6/2026 | TRACT | Hilltop |
|---|---|---|---|
| YEAR BUILT | 1920 | COMMUNITY | Hilltop |
| COUNTY | Pierce | STATUS | Active |
| PROPERTY TYPE(S) | Single Family |
| PRICE HISTORY | |
| Prior to Jan 5, '26 | $799,950 |
|---|---|
| Jan 5, '26 - Jan 23, '26 | $749,950 |
| Jan 23, '26 - Mar 6, '26 | $649,950 |
| Mar 6, '26 - Today | $625,000 |
| ADDITIONAL DETAILS | |
| AIR | None |
|---|---|
| AREA | 30 - Central Tacoma |
| CONSTRUCTION | Wood Siding |
| GARAGE | Yes |
| HEAT | Electric, Forced Air |
| LOT | 8124 sq ft |
| MLS STATUS | Active |
| PARKING | Detached |
| STORIES | 1.5 |
| STYLE | 17 - 1 1/2 Stry w/Bsmt |
| SUBDIVISION | Hilltop |
| TAXES | 5446 |
| UTILITIES | Sewer Connected |
| WATER | Public |
TOTAL MONTHLY PAYMENT
| SATELLITE VIEW |
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Properties with the 
icon are courtesy of Northwest MLS.
Listings courtesy of Northwest MLS as distributed by MLS GRID. Based on information submitted to the MLS GRID as of 3/18/26 6:07 AM PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. IDX information is provided exclusively for consumers’ personal noncommercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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