A 10-unit multifamily investment opportunity in South Puget Sound offers investors a stable, efficiently sized asset in an accessible, renter-demand driven neighborhood. Built in 1964, the property features (4) one-bedroom, (4) two-bedroom, and (2) three-bedroom one-bath units, appealing to a broad tenant base and supporting consistent occupancy. The property recently underwent capital improvements, including replacement of electrical panels in all units. Strategically located with excellent visibility and connectivity, the property provides convenient access to employment centers, military installations, and retail corridors. Residents enjoy proximity to shopping, dining, parks, and services. The property presents a clear value-add opportunity through potential interior upgrades, storage income implementation, and rental optimization. With strong fundamentals and straightforward operations, the asset offers immediate income stability and long-term upside. This offering represents an opportunity to acquire a well-located multifamily asset with scalable potential and durable tenant demand in the region.
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Zillow last checked:
Listing updated:
Listed by:
Tanner Fogle,
Paragon Real Estate Advisors
Source: NWMLS as distributed by MLS GRID,MLS#: 2529802
Facts & features
Interior
Bedrooms & bathrooms
Bedrooms: 18
Bathrooms: 10
Heating
Baseboard, Electric
Cooling
None
Features
Flooring: Laminate, Vinyl, Carpet
Has fireplace: No
Interior area
Total structure area: 7,500
Total interior livable area: 7,500 sqft
Property
Parking
Total spaces: 15
Uncovered spaces: 15
Lot
Size: 0.55 Acres
Details
Parcel number: 0219111043
Zoning description: Multi-Family,Jurisdiction: City
Special conditions: Standard
Construction
Type & style
Home type: MultiFamily
Architectural style: 10+ Units
Property subtype: Multi Family
Materials
Wood Products
Foundation: Poured Concrete
Roof: Composition
Condition
Year built: 1964
Utilities & green energy
Sewer: Sewer Connected
Water: Public
Community & HOA
Community
Subdivision: Lakewood
Location
Region: Lakewood
Financial & listing details
Price per square foot: $183/sqft
Annual tax amount: $15,574
Date on market: 6/13/2026
Cumulative days on market: 48 days
Listing terms: Conventional
Estimated market value
Zestimate®
$1,320,500
Estimated sales range
$1.25M - $1.39M
Rent Zestimate®
$1,587/mo
Price history
Date
Event
Price
6/14/2026
Pending sale
$1,375,000$183/sqft
Source: NWMLS as distributed by MLS GRID #2529802Report a problem
5/27/2026
Listed for sale
$1,375,000$183/sqft
Source: NWMLS as distributed by MLS GRID #2529802Report a problem
Source: Blue Emerald Real Estate Co. & Prop. Mgt. Report a problem
12/24/2013
Listed for rent
$675
Source: Blue Emerald Real Estate Co. & Prop. Mgt. Report a problem
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Public tax history
Tax history is unavailable.
Monthly payment
Est. payment$--/mo
Payment breakdown
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Principal & interest
$1,547
Mortgage insurance
$0
Property taxes
$170
Home insurance
$105
HOA fees
$0
Utilities
Not included
All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
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