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(206) 595-7188
Real Estate Company
12524 Addison Street SW, Lakewood, WA 98499
- $799,000
- 3
- BD
- 2
- BA
- 832
- SqFt
Listing Broker: eXp Realty; Claire Fralish; 253-230-2567; claire.fralish.re@gmail.com
- List Price
- $799,000
- Status
- ACTIVE
- MLS#
- 2506001
- Price Change
- ▼ $76,000 1776308021
- Days on Market
- 297
- Bedrooms
- 3
- Finished SqFt
- 832
- Area Total SqFt
- 832
- Annual Tax Ammount
- 5356
- Lot Size (sq ft)
- 19,600
- Sewer
- Sewer Connected
Property Description
Lakewood multifamily redevelopment opportunity just minutes from JBLM! This MF-3 zoned property offers a proposed 25-unit apartment concept with substantial preliminary development work already completed. Available documentation includes civil engineering plans, topographic survey, geotechnical analysis, landscape design, and mechanical, electrical, and energy coordination—providing a valuable foundation for further development review. Two existing tenant-occupied structures offer potential interim rental income. Potential eligibility for Lakewood's 12-year MFTE program, subject to City requirements and approval. Offered at $799,000, approximately $31,960 per proposed unit. An opportunity for builders and investors seeking multifamily development potential in an established rental market. Buyer to verify feasibility, density, and approvals. Do NOT disturb tenants. Seller is a licensed real estate agent.
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Additional Information
- Community
- Lakewood
- Style
- 10 - 1 Story
- Year Built
- 1945
- Total Covered Parking
- 2
- Roof
- Composition
- Site Features
- Deck, Fenced-Fully
- Tax Year
- 2025
- School District
- Clover Park
- Potential Terms
- Assumable, Cash, Conventional, VA Loan
- Flooring
- Vinyl Plank, Carpet
- Driving Directions
- From I-5 Exit 123, west on Thorne Ln SW, left on Union Ave SW, right on Lakeview Ave SW, left on Addison St SW. Property is on the left.
- Energy Source
- Electric
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.