About this home

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.

Exterior features

Property details

Heating

Forced Air

Cooling

None

Flooring

Laminate, Softwood, Vinyl

Lot

Corner Lot, Paved, Sidewalk

Water source

Public

Sewer

Septic Tank

Costs

Annual taxes

$5,011 (2026)

Location

Lakewood, WA 98498