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    8314 Spruce Street SW Lakewood, WA $ 1,150,000
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    $ 1,150,000 Get more info
    8314 Spruce Street SW
    $ 1,150,000
    Back to search
    Share Save

    8314 Spruce Street SW

    Lakewood, WA, 98498
    $ 1,150,000
    Baths0.0 Sq 4,551

    Monthly Estimate*

    $ 7,643

    Listed by COMPASS
    8314 Spruce Street SW, Lakewood, WA 98498 - Image 1
    Studio

    Multi-Family Home for sale in Lakewood, WA

    for $1,150,000. This 4,551 square foot home was built in 1952 on a lot size of 0.528.

    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.

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    Multi-Family Active

    Price

    $ 1,150,000

    Bedrooms

    Studio

    Property Type

    Multi-Family

    Taxes

    $ 10,667

    Style

    Duplex

    Lot Size

    0.528

    Year Built

    1952

    Town/City

    Lakewood

    County/Region

    Pierce

    MLS | Web ID

    2352914
    Features
    Interior
    Interior Amenities Ceramic Tile
    Flooring Ceramic Tile Vinyl Plank Carpet
    Total Fireplaces 0
    Total Stories 2
    Air Conditioning Y/N Y
    Heating Y/N Y
    Fireplace Y/N N
    Bedrooms Possible 0
    Power Production Type Electric Natural Gas
    Baths Three Quarter Upper 0
    Bedrooms Upper 0
    Baths Half Upper 0
    Baths Full Upper 0
    General
    Sewer Sewer Connected
    Heating Forced Air Heat Pump High Efficiency (Unspecified)
    Cooling 90%+ High Efficiency Central A/C Forced Air Heat Pump High Efficiency (Unspecified)
    Possession Closing
    Roof Composition Torch Down
    HOA Fee 0
    Security Features Partially Fenced
    Year Built 1952
    View Territorial
    Property Subtype Multi Family
    Tax Year 2025
    County Pierce
    Net Operating Income 66613
    Insurance Expense 1200
    New Construction N
    Property Type Residential Income
    HOA N
    Subdivision Name Tillicum
    Special Listing Conditions None
    Status Active
    Directions GPS is accurate
    High School Clover Park High
    City Lakewood
    Senior Community Y/N N
    High School District Clover Park
    Open Parking Spaces 5
    Number Of Units Total 2
    MLS Area 41 - Lakewood/Tillicum
    Lot Size Units Square Feet
    Lot Size Square Feet 23000
    Carport Spaces 1
    Carport Y/N N
    Listing Terms Cash Out Conventional
    Elementary School Tillicum Elem
    Tax Annual Amount 10667
    Electric Expense 0
    Fuel Expense 0
    Middle/Junior High School Woodbrook Mid
    Public Remarks 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 window
    Leasable Area 4551
    Structure Type Duplex
    Building Area Units Square Feet
    Living Area Units Square Feet
    Standard Status Active
    Amenities Basement Storage
    Water Company Lakewood Water
    Units Below Grade false
    Units In Building Total 2
    Water Sewer Garbage 0
    Property Style 52 - Duplex
    Cap Rate 5.8
    Exterior
    Exterior Amenities Brick
    Parking Features RV Parking
    Lot Features Corner Lot Dead End Street Paved Sidewalk
    Water Source Public
    Total Parking 16
    Foundation Details Block Slab
    Building Area Total 4551
    Lot Size Acres 0.528
    Waterfront Y/N N
    Covered Spaces 10
    Open Parking Y/N Y
    Irrigation Water Rights Y/N N
    Site Features Cable TV Fenced-Partially Gas Available High Speed Internet Outbuildings RV Parking Sprinkler System
    Parking Uncovered Spaces 5
    Internal Only
    OriginalMLSID NWM2352914
    Street Number 1 8314
    * Excluded Features
    List By
    Vikki Iverson

    Listing Agent

    Compass

    Broker

    Affordability Calculator

    $8,532
    Per Month
    90%
    10%
    0%
    Monthly Principal & Interest
    $7,643
    Monthly Property Taxes
    $889
    Monthly Home Insurance
    --
    Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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    Nearby
    3419208 Elementary School
    3480018 Middle School
    Clover Park High High School
    See complete school information
    Pricing History
    DatePricePrice ChangeDescription
    3/31/2025$1,150,000 Listed Price

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    8314 Spruce Street SW, Lakewood, WA, 98498 is a Multi-Family Home for sale at $1,150,000 with 4,551 sqft and a lot size of 0.528. 8314 Spruce Street SW is a studio with 0.0 baths and was built in 1952. The property's zip code is 98498 which is in Lakewood, WA

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