8601 8603 Maple Street SW, Lakewood, WA 98498
- $599,900
- 2,365
- SqFt
Listing courtesy of COMPASS.
- List Price
- $599,900
- Status
- ACTIVE
- MLS#
- 2544520
- Days on Market
- 36
- Style
- 52 - Duplex
- Building Condition
- Average
- Finished SqFt
- 2,365
- Area Total SqFt
- 2365
- Annual Tax Ammount
- 5011
- Lot Size (sq ft)
- 13,600
- Sewer
- Septic Tank
Property Description
Craftsman-style duplex offering flexibility for investors or owner-occupants. The main level unit features 2 bedrooms, 1 bath, original fir/softwood floors, and vinyl flooring in the kitchen, bath, and laundry areas. The lower unit also offers 2 bedrooms and 1 bath with laminate and vinyl flooring throughout. Both units will be vacant, creating an opportunity for market rents or owner occupancy. The lower unit recently rented for $1,900 per month, and projected rents of approximately $1,800 per unit may provide an estimated 6% cap rate. Both unites received interior renovations, and the upper 2 bedroom unit has remained vacant since renovations were done. Property was inspected and passed the Lakewood Rental House Safety Program (RHSP). The property is served by a functioning septic system currently rated for three bedrooms, with sewer available in the street for future connection. Pierce County sewer charges are included on the utility bill and passed through to tenants along with utilities. The furnace and water heater are shared and located in the basement. The large lot offers ample off-street parking plus street parking. A detached garage/storage building provides additional potential and may benefit from repairs or improvements. Conveniently located near I-5, JBLM, schools, and Tillicum amenities, with larger shopping and grocery options just minutes away in Lakewood. Ideal for investors, rental income, or living in one unit while renting the other.
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Additional Information
- List Date
- 2026-06-23 15:52:26
- Community
- Tillicum
- Net Operating Income
- $36,423
- Gross Adjusted Income
- $43,320
- Gross Scheduled Income
- $45,600
- Total Monthly Income
- $3,800
- Insurance Expenses
- $1,886
- Gross Rent Multiplier
- 13.16
- Total Expenses
- $6,897
- Cap Rate
- 6.07
- Vacancy Rate
- 5
- Total Number of Units
- 2
- Unit Name
- 8601 8603
- Potential Terms
- Cash, Conventional
- Year Built
- 1922
- Roof
- Composition
- Site Features
- Cable TV, Fenced-Partially, Gas Available, High Speed Internet
- Energy Source
- Electric, Natural Gas
- School District
- Clover Park
- Total Monthly Income
- $3,800
- Gross Scheduled Income
- $45,600
- Vacancy Rate
- 5
- Gross Adjusted Income
- $43,320
- Tax Year
- 2026
- Insurance Expense
- $1,886
- Total Expenses
- $6,897
- Net Operating Income
- $36,423
- Gross Rent Multiplier
- 13.16
- Cap Rate
- 6.07
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.