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JRJeff ReynoldsCompass · Seattle

Listed by Matt Harber, Keller Williams Rty Tacoma

6,240
Square feet
$337
Per sq ft
Multi Family
Type
1955
Year built
58,109 sq ft
Lot
39
Days on market

About this property

Exceptional investment opportunity featuring 12 rental units across 6 duplex buildings, offering immediate income with significant upside potential. Centrally located with convenient access to shopping, services, and major transportation routes, this property is well-positioned to attract and retain long-term tenants. Each duplex consists of one 2-bedroom, 1-bath unit and one 1-bedroom, 1-bath unit, creating a desirable unit mix that appeals to a broad tenant base. Current rents are below market, presenting a compelling opportunity for a savvy investor to increase cash flow and improve overall returns. Several units have benefited from interior renovations, while portions of the exterior have been upgraded with new siding. Durable metal roofing, selective exterior improvements, and a straightforward design contribute to a relatively low-maintenance investment. An on-site laundry facility provides additional income potential for residents. Situated on a large parcel, the property appears to offer future development opportunities that could substantially increase income and overall value (buyer to verify all development potential and feasibility). Whether you're looking to expand an existing portfolio or acquire a value-add asset with multiple paths to increased returns, this property deserves serious consideration. Opportunities combining current income, rental upside, low-maintenance ownership, and potential future development are increasingly difficult to find.

Location & commute

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Directions

Property details

Listing details

Listing number
#2535832
Listed
June 4, 2026
Days on market
39
Price per sq ft
$337

Unit & building

Stories in building
1
Units in building
12

Parking

Covered spaces
6
Total spaces
18

Construction

Year built
1955
Style
55 - 5-9 Units
Structure
Multi Family
Roof
Metal

Heating & cooling

Heating
BaseboardWall Furnace
Cooling
None
Energy source
Electric

Flooring

Flooring
LaminateVinylVinyl Plank

Lot

Lot features
CurbsDead End StreetPaved
Lot size
58,109 sq ft

Terms

Terms offered
CashConventional

Utilities

Water
Lakewood Water
Sewer
Pierce County
Power
PSE

Schools

District
Clover Park
Elementary
Idlewild Elem
Middle
Mann Mid
High
Clover Park High

What stands out to you?

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  • Multi Family
  • Metal
  • Baseboard
  • Wall Furnace
  • None
  • Electric
  • Laminate
  • Vinyl
  • Vinyl Plank
  • Curbs
  • Dead End Street
  • Paved

Listing history

  1. Listed

    $2,100,000

    June 4, 2026

Derived from current MLS listing fields. Full multi-cycle status history is on the roadmap.

Payment estimate

An estimate to help you plan, not a loan offer or financial advice.

Est. monthly

$12,229

Principal & interest
$10,619
Property tax (est.)
$1,610

Assumes $420,000 down (20%), a $1,680,000 loan at 6.5% over 30 years. Property tax is an estimated figure, not MLS data (verify with the county assessor). Excludes insurance, PMI, and closing costs. Not a commitment to lend or financial advice.

Similar nearby listings

Based on information submitted to the MLS GRID as of July 13, 2026 at 11:15 PM PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. 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.