Opportunity is knocking with this fully rented duplex boasting an impressive 8% cap rate and room for future expansion. Perfectly situated just half a mile from the picturesque shores of American Lake, near JBLM, Harry Todd Park, and minutes from I-5, this corner-lot property offers a newer roof and a fully fenced yard. Inside, the main unit features 3 bedrooms plus a bonus room and 1 bath, while the second unit provides a cozy 1 bedroom and 1 bath. Whether you’re a seasoned investor or just starting to build your portfolio, this cash-flowing gem pairs convenience with unlimited potential. Don’t let this incredible opportunity pass you by—schedule your showing today!
Sold
Listed by: CENTURY 21 North Homes Realty • Devin Gordon Sr
Bought with: Skyline Properties, Inc.
$375,000
8602 Lake Street SW, Lakewood, WA 98498
3beds
2baths
1,548sqft
Duplex, Multi Family
Built in 1947
-- sqft lot
$473,400 Zestimate®
$242/sqft
$2,257 Estimated rent
Home value
$473,400
$436,000 - $511,000
$2,257/mo
Zestimate® history
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$1,860/mo
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Fully fenced yardNewer roof
Zillow last checked:
Listing updated:
Listed by:
Devin Gordon Sr,
CENTURY 21 North Homes Realty
Bought with:
Elizabeth Helgeson, 140462
Skyline Properties, Inc.
Source: NWMLS as distributed by MLS GRID,MLS#: 2321964
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 2
Heating
- Stove/Free Standing, Electric
Cooling
- None
Features
- Flooring: Hardwood
- Has fireplace: No
Interior area
- Total structure area: 1,548
- Total interior livable area: 1,548 sqft
Property
Parking
- Total spaces: 2
- Parking features: Open
- Uncovered spaces: 2
Features
- Patio & porch: Hardwood
- Has view: Yes
- View description: Territorial
Lot
- Size: 6,037 Square Feet
- Features: Corner Lot, Curbs, Paved, Sidewalk, Cable TV, Deck, Fenced-Fully, Outbuildings, Patio
Details
- Parcel number: 2200003560
- Zoning description: Multi-Family
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Duplex
- Property subtype: Duplex, Multi Family
Materials
- Wood Siding, Wood Products
- Foundation: Poured Concrete
- Roof: Composition
Condition
- Good
- Year built: 1947
Utilities & green energy
- Electric: Company: PSE
- Sewer: Septic Tank, Company: Septic
- Water: Public, Company: Lakewood Water
Community & HOA
Community
- Subdivision: American Lake
Location
- Region: Lakewood
Financial & listing details
- Price per square foot: $242/sqft
- Tax assessed value: $401,200
- Annual tax amount: $3,930
- Date on market: 10/7/2024
- Cumulative days on market: 653 days
- Listing terms: Conventional,VA Loan
Price history
| Date | Event | Price |
|---|---|---|
| 3/7/2025 | Sold | $375,000-6.1%$242/sqft |
Source:  NWMLS as distributed by MLS GRID #2321964 Report a problem | ||
| 1/27/2025 | Pending sale | $399,500$258/sqft |
Source: NWMLS as distributed by MLS GRID #2321964 Report a problem | ||
| 1/14/2025 | Listed for sale | $399,500+21.1%$258/sqft |
Source: NWMLS as distributed by MLS GRID #2321964 Report a problem | ||
| 12/21/2019 | Listing removed | $330,000$213/sqft |
Source: Windermere Professional Partners #1510710 Report a problem | ||
| 9/4/2019 | Listed for sale | $330,000+43.5%$213/sqft |
Source: Windermere Professional Partners #1510710 Report a problem | ||
| 9/12/2017 | Listing removed | $230,000$149/sqft |
Source: Local MLS #1117093 Report a problem | ||
| 5/16/2017 | Listed for sale | $230,000$149/sqft |
Source: Better Properties Valley Assoc #1117093 Report a problem | ||
| 5/9/2017 | Pending sale | $230,000$149/sqft |
Source: Better Properties Valley Assoc #1117093 Report a problem | ||
| 5/3/2017 | Listed for sale | $230,000+9.5%$149/sqft |
Source: Better Properties Valley Assoc #1117093 Report a problem | ||
| 3/12/2010 | Listing removed | $210,000$136/sqft |
Source: Sound Realty Group #29123656 Report a problem | ||
| 12/22/2009 | Listed for sale | $210,000-6.7%$136/sqft |
Source: Sound Realty Group #29123656 Report a problem | ||
| 7/23/2009 | Listing removed | $224,999$145/sqft |
Source: Skyline Properties, Inc. - Kent #29064902 Report a problem | ||
| 5/13/2009 | Listed for sale | $224,999+25%$145/sqft |
Source: Skyline Properties, Inc. - Kent #29064902 Report a problem | ||
| 12/15/2006 | Sold | $180,000+63.6%$116/sqft |
Source: NWMLS as distributed by MLS GRID #26141679 Report a problem | ||
| 10/15/2004 | Sold | $110,000$71/sqft |
Source: NWMLS as distributed by MLS GRID #24098888 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $4,354 +10.8% | $401,200 +12.3% |
| 2023 | $3,930 +4.1% | $357,300 -0.2% |
| 2022 | $3,774 +2.3% | $358,000 +15.6% |
| 2021 | $3,690 +49.9% | $309,700 +49% |
| 2019 | $2,461 -0.2% | $207,900 +4.4% |
| 2018 | $2,467 +12.9% | $199,200 +22% |
| 2017 | $2,186 +19.1% | $163,300 +30.3% |
| 2016 | $1,835 | $125,300 +12.2% |
| 2014 | $1,835 +7.2% | $111,700 +3.8% |
| 2013 | $1,713 | $107,600 +2.6% |
| 2012 | -- | $104,900 -13.4% |
| 2011 | -- | $121,200 -12.1% |
| 2010 | -- | $137,900 |
Find assessor info on the county website
Neighborhood: Tillicum
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Nearby schools
GreatSchools rating
- 3/10Tillicum Elementary SchoolGrades: PK-5Distance: 0.3 mi
- 4/10Woodbrook Middle SchoolGrades: 6-8Distance: 1.9 mi
- 4/10Clover Park High SchoolGrades: 9-12Distance: 2.6 mi
Schools provided by the listing agent
- Elementary: Tillicum Elem
- Middle: Woodbrook Mid
- High: Clover Park High
Source: NWMLS as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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Estimated market value
$473,400
Get a cash offer in 3 minutes
Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
Estimated market value
$473,400
- Washington
- Pierce County
- Lakewood
- 98498
- Tillicum
- 8602 Lake Street SW
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