Excellent cash flow investment with 4 1-bedroom units leased at $975 each per month. Two units up and two units down. Large 11,000 plus square foot fenced lot. City of Lakewood says it will support another 4-plex that can be built for additional cash flow (buyer to verify). Portland Avenue was repaved with curbs, gutters, sidewalks, and bike lane plus sewer installation. Convenient location near Harry Todd Park and American Lake. Easy access to JBLM, Madigan Hospital, and I-5 either North or South. Price reduced for quick sale. Great value for a 4-unit building as most are sold for $100s of thousands more.
Sold
Listed by: All Real Estate Solution • Daniel W. Dodge
Bought with: Inspire Realty
$565,000
14514 Portland Avenue SW, Lakewood, WA 98498
4beds
4baths
2,032sqft
Quadruplex, Multi Family
Built in 1935
-- sqft lot
$-- Zestimate®
$278/sqft
$2,854 Estimated rent
Home value
Not available
Estimated sales range
Not available
$2,854/mo
Zestimate® history
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Zillow last checked:
Listing updated:
Offers reviewed: Mar 31
Listed by:
Daniel W. Dodge,
All Real Estate Solution,
Marcia J Bentz,
All Real Estate Solution
Bought with:
Nam Kim, 21027179
Inspire Realty
Source: NWMLS as distributed by MLS GRID,MLS#: 2496939
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 4
Heating
- Baseboard, Electric
Cooling
- None
Features
- Flooring: Vinyl, Carpet
- Windows: Thermal Windows
- Has fireplace: No
Interior area
- Total structure area: 2,032
- Total interior livable area: 2,032 sqft
Property
Parking
- Total spaces: 8
- Parking features: RV Parking
- Uncovered spaces: 8
Features
- Has view: Yes
- View description: Territorial
Lot
- Size: 0.25 Acres
- Features: Curbs, Paved, Sidewalk, Value In Land, Fenced-Fully, Outbuildings, RV Parking
Details
- Parcel number: 2200003263
- Zoning description: Multi-Family,Jurisdiction: City
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Architectural style: 4-Plex
- Property subtype: Quadruplex, Multi Family
Materials
- Wood Products
- Foundation: Poured Concrete
- Roof: Composition
Condition
- Good
- Year built: 1935
Utilities & green energy
- Electric: Company: PSE
- Sewer: Sewer Connected, Company: Pierce County
- Water: Public, Company: Lakewood
Green energy
- Energy efficient items: Thermal Windows
Community & HOA
Community
- Subdivision: American Lake
Location
- Region: Lakewood
Financial & listing details
- Price per square foot: $278/sqft
- Tax assessed value: $457,100
- Annual tax amount: $5,188
- Offers reviewed: 03/31/2026
- Date on market: 5/29/2026
- Cumulative days on market: 54 days
- Listing terms: Conventional,FHA,VA Loan
Price history
| Date | Event | Price |
|---|---|---|
| 4/29/2026 | Sold | $565,000-5.8%$278/sqft |
Source:  NWMLS as distributed by MLS GRID #2496939 Report a problem | ||
| 3/24/2026 | Pending sale | $599,950$295/sqft |
Source: NWMLS as distributed by MLS GRID #2496939 Report a problem | ||
| 3/24/2026 | Listed for sale | $599,950+380%$295/sqft |
Source: NWMLS as distributed by MLS GRID #2496939 Report a problem | ||
| 7/16/2003 | Sold | $125,000-8.9%$62/sqft |
Source: Public Record Report a problem | ||
| 2/14/2003 | Sold | $137,175-7.3%$68/sqft |
Source: Public Record Report a problem | ||
| 12/20/2001 | Sold | $148,000$73/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $5,188 +11.2% | $457,100 +6% |
| 2023 | $4,664 +3.6% | $431,100 -0.7% |
| 2022 | $4,500 +5% | $434,200 +18.7% |
| 2021 | $4,287 +64.3% | $365,700 +62.8% |
| 2019 | $2,610 +0.8% | $224,700 +4.4% |
| 2018 | $2,589 +5.5% | $215,200 +22.1% |
| 2017 | $2,454 +19.9% | $176,300 +20% |
| 2016 | $2,047 | $146,900 +13.3% |
| 2014 | $2,047 -3.6% | $129,600 +3.8% |
| 2013 | $2,123 | $124,800 -8.2% |
| 2012 | -- | $136,000 -13.2% |
| 2011 | -- | $156,700 -8.6% |
| 2010 | -- | $171,500 -10.8% |
| 2009 | -- | $192,200 -11.3% |
| 2008 | $2,593 | $216,600 -0.2% |
| 2007 | $2,593 +357.7% | $217,000 +106.9% |
| 2002 | $567 -7.7% | $104,900 +193% |
| 2001 | $614 -63.5% | $35,800 -63.9% |
| 2000 | $1,683 | $99,200 |
Find assessor info on the county website
Neighborhood: Tillicum
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Nearby schools
GreatSchools rating
- 3/10Tillicum Elementary SchoolGrades: PK-5Distance: 0.2 mi
- 4/10Woodbrook Middle SchoolGrades: 6-8Distance: 1.9 mi
- 4/10Clover Park High SchoolGrades: 9-12Distance: 2.7 mi
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- Washington
- Pierce County
- Lakewood
- 98498
- Tillicum
- 14514 Portland Avenue SW
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