11002 Idlewild RD SW, Lakewood, WA 98498
11002 Idlewild RD SW, Lakewood, WA 98498
11002 Idlewild RD SW, Lakewood, WA 98498
17
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Listed by:Keller Williams Rty Tacoma • Matt Harber
$2,100,000
Est. payment /mo
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18 Beds
12 Baths
6,240 SqFt
New

11002 Idlewild RD SW Lakewood, WA 98498

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Adrian Chu

Adrian Chu

+1(206) 407-5452

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 6,240 sqft

Price per Sqft $336

Subdivision Lakewood

MLS Listing ID 2535832

Style 55 - 5-9 Units

Bedrooms 18

Year Built 1955

Annual Tax Amount $16,508

Lot Size 1.334 Acres

Property Sub-Type Multi Family

Property Description

Exceptional investment opportunity featuring 12 rental units across 6 duplex buildings, offering immediate income with significant upside potential. Centrally located with convenient access to shopping, services, and major transportation routes, this property is well-positioned to attract and retain long-term tenants. Each duplex consists of one 2-bedroom, 1-bath unit and one 1-bedroom, 1-bath unit, creating a desirable unit mix that appeals to a broad tenant base. Current rents are below market, presenting a compelling opportunity for a savvy investor to increase cash flow and improve overall returns. Several units have benefited from interior renovations, while portions of the exterior have been upgraded with new siding. Durable metal roofing, selective exterior improvements, and a straightforward design contribute to a relatively low-maintenance investment. An on-site laundry facility provides additional income potential for residents. Situated on a large parcel, the property appears to offer future development opportunities that could substantially increase income and overall value (buyer to verify all development potential and feasibility). Whether you're looking to expand an existing portfolio or acquire a value-add asset with multiple paths to increased returns, this property deserves serious consideration. Opportunities combining current income, rental upside, low-maintenance ownership, and potential future development are increasingly difficult to find.

Location

State WA

County Pierce

Area 38 - Lakewood

Interior

Flooring Laminate, Vinyl, Vinyl Plank

Fireplace false

Exterior

Exterior Feature Cement/Concrete, Stucco, Wood

Amenities Available Fenced-Partially, Patio

View Y/N No

Roof Type Metal

Building

Lot Description Curbs, Dead End Street, Paved

Sewer Sewer Connected

Water Public

New Construction No

Schools

Elementary Schools Idlewild Elem

Middle Schools Mann Mid

High Schools Clover Park High

School District Clover Park

Others

Senior Community No

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Northwest MLS (NWMLS)
"Three Trees" icon indicates a listing provided courtesy of NWMLS.

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Adrian Chu

Adrian Chu

Broker | License ID: DRE 02061077

+1(206) 407-5452

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11002 Idlewild RD SW