Craftsman-style duplex offering flexibility for investors or owner-occupants. The main level unit features 2 bedrooms, 1 bath, original fir/softwood floors, & vinyl flooring in the kitchen, bath, & laundry areas. The lower unit also offers 2 bedrooms & 1 bath with laminate and vinyl flooring throughout, & has new stove and dishwasher. Both units will be vacant, creating an opportunity for market rents or owner occupancy. The lower unit recently rented for $1,900 per month, and projected rents of approximately $1,800 per unit may provide an estimated 6% cap rate. Both unites received interior renovations, and the upper 2 bedroom unit has remained vacant since renovations were done. Property was inspected and passed the Lakewood Rental House Safety Program (RHSP). The property is served by a functioning septic system currently rated for three bedrooms, with sewer available in the street for future connection. Pierce County sewer charges are included on the utility bill & passed through to tenants along with utilities. The furnace & water heater are shared and located in the basement. The large lot offers ample off-street parking plus street parking. A detached garage/storage building provides additional potential & may benefit from repairs or improvements. Conveniently located near I-5, JBLM, schools, and Tillicum amenities, with larger shopping and grocery options just minutes away in Lakewood. Ideal for investors, rental income, or living in one unit while renting the other.
| MLS # | 2544520 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1922 |
| Days On Site | 96 |
| Listing Provided By | COMPASS | Jim Swanson |
| SQ Feet | 2,365 |
|---|---|
| Story(s) | 2 |
| Units | 2 |
| Zoning | Residential |
| Acreage | 0.31 |
| Property | 5011 |
|---|
| State | WA |
|---|---|
| County | Pierce |
| City | Lakewood |
| Zip Code | 98498 |
| Area | 41 Lakewood | Tillicum |
| Community Name | Tillicum |
| Listing VS Median (in Tillicum) | |
Price: $599,900 low | high Med: $498,750 sqft: 2,365 low | high Med: 1,300 $ / sqft: $254 low | high Med: $384 On site: 96 low | high Med: 25 | |
| State | WA |
|---|---|
| County | Pierce |
| City | Lakewood |
| Zip Code | 98498 |
| Area | 41 Lakewood | Tillicum |
| Community Name | Tillicum |
| Listing VS Median (in Tillicum) | |
Price: $599,900 low | high Med: $498,750 sqft: 2,365 low | high Med: 1,300 $ / sqft: $254 low | high Med: $384 On site: 96 low | high Med: 25 | |