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JRJeff ReynoldsCompass · Seattle

Listed by Greg Garner, COMPASS

4,233
Square feet
$803
Per sq ft
Multi Family
Type
2001
Year built
405,544 sq ft
Lot
55
Days on market

About this property

This stunning lakefront property is unlike anything you’ve ever seen! Sited on 700 feet of waterfront and 9.31 acres, this special property is the perfect combination of lakefront luxury and income generating rentals. The hallmark of the property is the lakefront lodge. At more than 4,200 square feet, clad in stone, stucco, slate, and copper, this beautiful home features a main level primary suite, an expansive kitchen, a two-story great room, and an attached ADU/MIL above the three-car garage. Open the three sets of French doors in the great room for a seamless indoor-outdoor flow onto the covered outdoor patio. Enjoy beautiful lake views from nearly every room, especially the elevated ADU which offers two private external entrances and interior access from the main residence. The South-facing shoreline features a picturesque Mount Rainier view. The dock easily accommodates a float plane or large vessel, with an extra motorized float perfect for cruising the lake with friends. Now, the rentals. This single-parcel property includes 7 rental units: two 1-bed duplexes, a 2-bed duplex, and an additional single-family home. These additional residences have all received consistent updates throughout the years and benefits from long-term tenants who would love to stay. Photos of the SFR and one of the duplex units are included in this listing. Gross annual income exceeds $100,000 per year and a rent roll is available upon request. This one-of-a-kind property is as rare as it comes.

Location & commute

Add a destination (work, gym, school) for directions and drive time.

Directions

Property details

Listing details

Listing number
#2553466
Listed
May 19, 2026
Days on market
55
Price per sq ft
$803

Unit & building

Stories in building
2
Units in building
8

Parking

Parking
RV Parking
Covered spaces
10
Total spaces
30

Views

View
LakeMountains

Construction

Year built
2001
Style
55 - 5-9 Units
Structure
Multi Family
Roof
Tile

Heating & cooling

Heating
Forced AirHeat PumpHigh Efficiency (Unspecified)
Cooling
Heat Pump
Energy source
ElectricWood

Flooring

Flooring
HardwoodSlateVinylVinyl PlankCarpet

Lot

Lot features
Cul-De-SacPavedSecluded
Lot size
405,544 sq ft
Waterfront
Yes

Terms

Terms offered
CashConventional

Utilities

Water
Spanaway Water
Sewer
Septic
Power
Elmhurst

Schools

District
Bethel
Elementary
Spanaway Elem
Middle
Spanaway Jnr High
High
Spanaway Lake High

What stands out to you?

Mark features you love or could do without. Saved on this device to tune what you see.

  • RV Parking
  • Lake
  • Mountains
  • Multi Family
  • Tile
  • Forced Air
  • Heat Pump
  • High Efficiency (Unspecified)
  • Electric
  • Wood
  • Hardwood
  • Slate

Listing history

  1. Listed

    $3,400,000

    May 19, 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

$19,799

Principal & interest
$17,192
Property tax (est.)
$2,607

Assumes $680,000 down (20%), a $2,720,000 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 14, 2026 at 12:30 AM 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.