Incredible opportunity to purchase the Kayla Rae! This well maintained two building, 13 unit apartment complex, is in fantastic condition. Units are clean with newer carpets, paint, and vinyl windows. Great tenants and always rented; all 13 apartments are currently occupied. Rent is currently less than market value and stable cap rate is approximately 5.4%. Apartments are all metered separately and there is a potential for more density. Coin operated laundry on-site. Pre-inspection conducted and report available upon request. Located in the heart of Key Center and close to shopping, retail, and restaurants. Wonderful addition to anyone's investment portfolio and/or real estate holdings!
Sold
Listed by: Commencement Bay Brokers LLC • Nicolas Lind
Bought with: ZNonMember-Office-MLS
$1,765,600
9002 154th Avenue Ct NW, Lakebay, WA 98349
--beds
--baths
--sqft
Multi Family
Built in 1993
-- sqft lot
$-- Zestimate®
$--/sqft
$1,693 Estimated rent
Home value
Not available
Estimated sales range
Not available
$1,693/mo
Zestimate® history
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Zillow last checked:
Listing updated:
Listed by:
Nicolas Lind,
Commencement Bay Brokers LLC
Bought with:
Non Member ZDefault
ZNonMember-Office-MLS
Source: NWMLS as distributed by MLS GRID,MLS#: 2371589
Facts & features
Interior
Heating
- Forced Air, Electric
Cooling
- None
Features
- Flooring: Laminate, Carpet
- Has fireplace: No
Interior area
- Total structure area: 0
Property
Parking
- Total spaces: 13
- Parking features: Open
- Uncovered spaces: 13
Lot
- Size: 2.3 Acres
- Features: Corner Lot, Cul-De-Sac, Paved, Secluded, Sidewalk, Deck, Patio
Details
- Parcel number: 0021015094
- Zoning description: Multi-Family,Residential,Jurisdiction: County
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Architectural style: 10+ Units
- Property subtype: Multi Family
Materials
- Wood Siding, Wood Products
- Foundation: Poured Concrete
- Roof: Composition
Condition
- Year built: 1993
Utilities & green energy
- Electric: Company: Peninsula Light Co
- Sewer: Septic Tank
- Water: Community, Company: Peninsula Light Co
Community & HOA
Community
- Subdivision: Lakebay
Location
- Region: Lakebay
Financial & listing details
- Tax assessed value: $927,100
- Annual tax amount: $16,549
- Date on market: 7/20/2025
- Cumulative days on market: 367 days
- Listing terms: Conventional
Price history
| Date | Event | Price |
|---|---|---|
| 6/17/2026 | Listing removed | $1,450 |
Source: Zillow Rentals Report a problem | ||
| 6/1/2026 | Price change | $1,450-6.5% |
Source: Zillow Rentals Report a problem | ||
| 5/11/2026 | Price change | $1,550-2.8% |
Source: Zillow Rentals Report a problem | ||
| 5/1/2026 | Listed for rent | $1,595 |
Source: Zillow Rentals Report a problem | ||
| 7/18/2025 | Sold | $1,765,600-7.1% |
Source:  NWMLS as distributed by MLS GRID #2371589 Report a problem | ||
| 6/4/2025 | Pending sale | $1,900,000 |
Source: NWMLS as distributed by MLS GRID #2371589 Report a problem | ||
| 5/7/2025 | Listed for sale | $1,900,000 |
Source: NWMLS as distributed by MLS GRID #2371589 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $8,272 +1.5% | $927,100 |
| 2024 | $8,152 +37.7% | $927,100 +44.6% |
| 2023 | $5,921 +4.1% | $641,200 |
| 2022 | $5,688 -1.2% | $641,200 +14.8% |
| 2021 | $5,760 +29.5% | $558,400 +19.9% |
| 2019 | $4,447 -17.7% | $465,700 +15% |
| 2018 | $5,402 +11.8% | $405,000 -9.2% |
| 2017 | $4,833 +2.4% | $446,100 +21% |
| 2016 | $4,720 | $368,700 |
| 2014 | $4,720 -2.6% | $368,700 |
| 2013 | $4,846 | $368,700 |
| 2012 | -- | $368,700 |
| 2011 | -- | $368,700 -4.4% |
| 2010 | -- | $385,600 -12.2% |
| 2009 | -- | $439,100 |
| 2008 | $3,715 +0% | $439,100 +7% |
| 2007 | $3,715 +9.7% | $410,300 +62.6% |
| 2002 | $3,387 -5.7% | $252,300 |
| 2001 | $3,594 | $252,300 -1.9% |
| 2000 | $3,594 | $257,150 |
Find assessor info on the county website
Neighborhood: 98349
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Nearby schools
GreatSchools rating
- 5/10Vaughn Elementary SchoolGrades: PK-5Distance: 1.3 mi
- 4/10Key Peninsula Middle SchoolGrades: 6-8Distance: 2.3 mi
- 8/10Peninsula High SchoolGrades: 9-12Distance: 6.6 mi
Schools provided by the listing agent
- Elementary: Vaughn Elem
- Middle: Key Peninsula Mid
- High: Peninsula 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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- Washington
- Pierce County
- Lakebay
- 98349
- 9002 154th Avenue Ct NW
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