8602 Lake Street SW, Lakewood, WA 98498
- $375,000
- 1,548
- SqFt
Listing courtesy of CENTURY 21 North Homes Realty. Selling Office: Skyline Properties, Inc..
- Sold Price
- $375,000
- List Price
- $399,500
- Status
- SOLD
- MLS#
- 2321964
- Closing Date
- Mar 07, 2025
- Days on Market
- 182
- Style
- 52 - Duplex
- Building Condition
- Good
- Finished SqFt
- 1,548
- Area Total SqFt
- 1548
- Annual Tax Ammount
- 3930
- Lot Size (sq ft)
- 6,038
- Sewer
- Septic Tank
Property Description
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!
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Additional Information
- List Date
- 2024-09-06 00:00:00
- Community
- American Lake
- Net Operating Income
- $35,760
- Gross Adjusted Income
- $41,940
- Gross Scheduled Income
- $41,940
- Total Monthly Income
- $3,495
- Insurance Expenses
- $1,200
- Water/Sewer/Garbage Expenses
- $1,770
- Gross Rent Multiplier
- 9.53
- Total Expenses
- $6,900
- Cap Rate
- 8.95
- Vacancy Rate
- 4
- Total Number of Units
- 2
- Unit Name
- 8602
- Potential Terms
- Cash Out, Conventional, VA Loan
- Year Built
- 1947
- View
- Territorial
- Roof
- Composition
- Site Features
- Cable TV, Deck, Fenced-Fully, Outbuildings, Patio
- Energy Source
- Electric
- School District
- Clover Park
- Elementary School
- Tillicum Elem
- Middle School
- Woodbrook Mid
- High School
- Clover Park High
- Total Monthly Income
- $3,495
- Gross Scheduled Income
- $41,940
- Vacancy Rate
- 4
- Gross Adjusted Income
- $41,940
- Tax Year
- 2024
- Insurance Expense
- $1,200
- W/S/G Expenses
- $1,770
- Total Expenses
- $6,900
- Net Operating Income
- $35,760
- Gross Rent Multiplier
- 9.53
- Cap Rate
- 8.95
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.