Fantastic Investor Opportunity. Two separate houses and 10 rented garage units bring an almost 6% cap rate. New roof on the garages. New flooring, carpet and paint in both units. New appliances, windows and electrical wiring in the cottage unit. Completely rented out, refreshed and ready to be acquired. The main house boasts enormous rooms, a large kitchen and a separate kitchen in the basement. The cottage is filled with light, and fully updated yet maintains its mid century charm. Add in the garage units, a sturdy brick building with ten separate stalls, new roof last year, all fully rented out. JBLM minutes away, making this a popular tenant location. Photos limited due to tenant occupancy and respect for privacy. $120K in renovations.
Active
Listed by:
Vikki Iverson,
COMPASS
$1,150,000
8314 Spruce Street SW, Lakewood, WA 98498
4beds
3baths
4,551sqft
Est.:
Duplex
Built in 1952
-- sqft lot
$1,132,500 Zestimate®
$253/sqft
$-- HOA
What's special
- 31 days
- on Zillow |
- 258 |
- 3 |
Zillow last checked: 7 hours ago
Listing updated: April 07, 2025 at 01:41pm
Listed by:
Vikki Iverson,
COMPASS
Source: NWMLS,MLS#: 2352914

Travel times
Tour with a buyer’s agent
Tour with a buyer’s agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 3
Heating
- Forced Air, Heat Pump, High Efficiency (Unspecified)
Cooling
- 90%+ High Efficiency, Central Air, Forced Air, Heat Pump, High Efficiency (Unspecified)
Features
- Flooring: Ceramic Tile, Vinyl Plank, Carpet, Wall to Wall Carpet
- Has fireplace: No
Interior area
- Total structure area: 4,551
- Total interior livable area: 4,551 sqft
Property
Parking
- Total spaces: 16
- Parking features: RV Parking
- Carport spaces: 1
- Covered spaces: 10
- Uncovered spaces: 5
Features
- Has view: Yes
- View description: Territorial
Lot
- Size: 0.53 Acres
- Features: Corner Lot, Dead End Street, Paved, Sidewalk, Cable TV, Fenced-Partially, Gas Available, High Speed Internet, Outbuildings, RV Parking, Sprinkler System
Details
- Parcel number: 2200002412
- Zoning description: Jurisdiction: City
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Duplex
Materials
- Brick
- Foundation: Block, Slab
- Roof: Composition,Torch Down
Condition
- Year built: 1952
- Major remodel year: 1968
Utilities & green energy
- Electric: Company: PSE
- Sewer: Sewer Connected, Company: Pierce County
- Water: Public, Company: Lakewood Water
- Utilities for property: Xfinity
Community & HOA
Community
- Subdivision: Tillicum
Location
- Region: Lakewood
Financial & listing details
- Price per square foot: $253/sqft
- Tax assessed value: $919,900
- Annual tax amount: $10,667
- Date on market: 3/31/2025
- Listing terms: Cash Out,Conventional
- Cumulative days on market: 32 days
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