14514 Portland Avenue SW, Lakewood, WA 98498
- $565,000
- 2,032
- SqFt
Listing courtesy of All Real Estate Solution. Selling Office: Inspire Realty.
- Sold Price
- $565,000
- List Price
- $599,950
- Status
- SOLD
- MLS#
- 2496939
- Closing Date
- Apr 29, 2026
- Days on Market
- 0
- Style
- 54 - 4-Plex
- Building Condition
- Good
- Finished SqFt
- 2,032
- Area Total SqFt
- 2032
- Annual Tax Ammount
- 5188
- Lot Size (sq ft)
- 11,008
- Sewer
- Sewer Connected
- Offer Review Date
- 2026-03-31
Property Description
Excellent cash flow investment with 4 1-bedroom units leased at $975 each per month. Two units up and two units down. Large 11,000 plus square foot fenced lot. City of Lakewood says it will support another 4-plex that can be built for additional cash flow (buyer to verify). Portland Avenue was repaved with curbs, gutters, sidewalks, and bike lane plus sewer installation. Convenient location near Harry Todd Park and American Lake. Easy access to JBLM, Madigan Hospital, and I-5 either North or South. Price reduced for quick sale. Great value for a 4-unit building as most are sold for $100s of thousands more.
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Additional Information
- List Date
- 2026-04-29 00:00:00
- Community
- American Lake
- Net Operating Income
- $31,864
- Gross Adjusted Income
- $44,460
- Gross Scheduled Income
- $46,800
- Total Monthly Income
- $3,900
- Insurance Expenses
- $1,138
- Water/Sewer/Garbage Expenses
- $5,423
- Gross Rent Multiplier
- 14.62
- Total Expenses
- $12,596
- Cap Rate
- 5.04
- Vacancy Rate
- 5
- Total Number of Units
- 4
- Unit Name
- 14514
- Potential Terms
- Cash, Conventional, FHA, VA Loan
- Year Built
- 1935
- View
- Territorial
- Roof
- Composition
- Site Features
- Fenced-Fully, Outbuildings, RV Parking
- Other Expenses
- 394
- Energy Source
- Electric
- School District
- Lakewood
- Elementary School
- Buyer To Verify
- Middle School
- Buyer To Verify
- High School
- Buyer To Verify
- Total Monthly Income
- $3,900
- Gross Scheduled Income
- $46,800
- Vacancy Rate
- 5
- Gross Adjusted Income
- $44,460
- Tax Year
- 2025
- Insurance Expense
- $1,138
- W/S/G Expenses
- $5,423
- Total Expenses
- $12,596
- Net Operating Income
- $31,864
- Gross Rent Multiplier
- 14.62
- Cap Rate
- 5.04
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.