Tacoma neighborhood opinion for an out-of-towner

[Pete M.]

Hi all,

Looking at potentially picking up a 4plex (recently renovated, $425k asking, rents are $4050/mo gross + $1045/mo gross RUBS) in the Larchmont area, currently off-market opportunity.  Place is located east of I-5, and a little north of 512.

I know the 1% rule is already tough to find in Tacoma, but I'm not a local (living closer to Seattle now) and don't know the area.  Any feedback is appreciated, both on the high-level numbers, and the general area of the city.

Thanks in advance.

[Matt Ott]

Pete,

That location is most likely in a lower income/higher crime area (read the crime section of the Tacoma News Tribune, seems like most of the stories originate from that area), which is likely why the 4-plex is priced much lower than the comps i've seen elsewhere in Tacoma.  

If you are looking for appreciation i'd recommend staying north of the 16 and west of the 705.  I personally would avoid that area since i'd prefer a B class and up neighborhood, with easier to manage properties.