8502 8508 Berkeley Avenue SW, Lakewood, WA 98498
- $670,000
- 2,376
- SqFt
Listing courtesy of Commencement Bay Brokers LLC. Selling Office: Commencement Bay Brokers LLC.
- Sold Price
- $670,000
- List Price
- $725,000
- Status
- SOLD
- MLS#
- 2412404
- Closing Date
- Jan 21, 2026
- Days on Market
- 129
- Style
- 54 - 4-Plex
- Finished SqFt
- 2,376
- Area Total SqFt
- 2376
- Annual Tax Ammount
- 6815
- Lot Size (sq ft)
- 9,375
- Sewer
- Available, Sewer Connected
Property Description
FULLY remodeled classic clinker brick rambler 4-plex near JBLM with easy access to I-5. New roof, new electrical, and new plumbing are highlighted by updated flooring, kitchen, bedrooms, and baths. Plenty of parking and quiet, private backyard space. Successful track record for rented units. Fantastic location for commuters, those who work at JBLM and Madigan, and near the Lakewood Sounder station. Unit 3 is available to view; all others are tenant occupied. Unit 3 gives accurate representation of the quality of the remodel in all units.
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Additional Information
- List Date
- 2025-09-14 00:00:00
- Community
- American Lake
- Net Operating Income
- $44,417
- Gross Adjusted Income
- $54,648
- Gross Scheduled Income
- $59,400
- Total Monthly Income
- $4,950
- Insurance Expenses
- $2,436
- Water/Sewer/Garbage Expenses
- $168
- Gross Rent Multiplier
- 13.5
- Total Expenses
- $10,231
- Cap Rate
- 6.3
- Vacancy Rate
- 8
- Total Number of Units
- 4
- Unit Name
- 8502 8508
- Potential Terms
- Cash, Conventional, FHA, VA Loan
- Year Built
- 1959
- Roof
- Composition
- Site Features
- Cable TV
- Electric Expenses
- 812
- Energy Source
- Electric
- School District
- Clover Park
- Elementary School
- Tillicum Elem
- Middle School
- Woodbrook Mid
- High School
- Clover Park High
- Total Monthly Income
- $4,950
- Gross Scheduled Income
- $59,400
- Vacancy Rate
- 8
- Gross Adjusted Income
- $54,648
- Tax Year
- 2025
- Insurance Expense
- $2,436
- W/S/G Expenses
- $168
- Total Expenses
- $10,231
- Net Operating Income
- $44,417
- Gross Rent Multiplier
- 13.5
- Cap Rate
- 6.3
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.