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  • Listed by: 

    Vikki Iverson,

    COMPASS

    $1,150,000

    8314 Spruce Street SW, Lakewood, WA 98498

    4beds
    3baths
    4,551sqft
    : 
    Duplex
    Built in 1952
    -- sqft lot
    $1,132,500 Zestimate®
    $253/sqft
    $-- HOA

    What's special

    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.
    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#: 2352914MLS Logo
    Travel times

    Tour with a buyer’s agent

    We’ll find a local expert to take you on a private tour of 8314 Spruce Street SW.

    Next available tour time:Today at 11am

    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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