14402 Washington Avenue SW, Lakewood, WA 98498
- $1,500,000
- 7,983
- SqFt
Listing courtesy of COMPASS. Selling Office: ZNonMember-Office-MLS.
- Sold Price
- $1,500,000
- List Price
- $1,800,000
- Status
- SOLD
- MLS#
- 2335245
- Closing Date
- Jun 11, 2025
- Days on Market
- 77
- Style
- 56 - 10+ Units
- Finished SqFt
- 7,983
- Area Total SqFt
- 7983
- Annual Tax Ammount
- 14528
- Lot Size (sq ft)
- 43,125
- Sewer
- Sewer Connected
Property Description
Wonderland is a rare value-add property on a large corner lot, ideally located near JBLM, Boeing, and UW Tacoma - without Tacoma's rental restrictions. This diverse asset includes a renovated fourplex, two single-family homes, and two duplex-style cottages with classic interiors ready for modernization and rent increases. A 1,200 SF storage unit offers conversion potential into an additional 3-bed/2-bath or two smaller units. Six garages provide extra income opportunities at $100+ per month each. With historically high occupancy, low turnover, and no delinquency, Wonderland presents a strong investment with significant upside potential.
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Additional Information
- List Date
- 2025-03-26 00:00:00
- Community
- Tillicum
- Net Operating Income
- $136,447
- Gross Adjusted Income
- $171,072
- Gross Scheduled Income
- $213,841
- Total Monthly Income
- $1,750
- Insurance Expenses
- $7,339
- Water/Sewer/Garbage Expenses
- $7,176
- Gross Rent Multiplier
- 8.42
- Total Expenses
- $77,394
- Cap Rate
- 7.6
- Vacancy Rate
- 20
- Total Number of Units
- 1
- Unit Name
- 14402
- Potential Terms
- Cash Out, Conventional
- Year Built
- 1942
- Roof
- Composition
- Electric Expenses
- 7176
- Other Expenses
- 33996
- Energy Source
- Natural Gas
- School District
- Clover Park
- Total Monthly Income
- $1,750
- Gross Scheduled Income
- $213,841
- Vacancy Rate
- 20
- Gross Adjusted Income
- $171,072
- Tax Year
- 2024
- Insurance Expense
- $7,339
- W/S/G Expenses
- $7,176
- Total Expenses
- $77,394
- Net Operating Income
- $136,447
- Gross Rent Multiplier
- 8.42
- Cap Rate
- 7.6
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.