4902 111th Street Southwest
Lakewood, WA 98499
$1,799,500
Price
—
Beds
4,584 Sq. Ft.
$393 / Sq. Ft.
4,584
Sq. Ft.
$393
per Sq. Ft.
Listing provided courtesy of HDN Real Estate
Description
Location, location! Great Investment, Turnkey opportunity to purchase this great income producing 8Plex, 4,584sf building, 19,200sf Parcel; 2 2BR & 6 1BR Apart, Zone C1, located in the heart of Lakewood, next to St. Clare Hospital. Well maintained 1-Story U-shape Brick Building, private courtyard, large playground area with fully gated fence, All the units are updated with tile, laminate, hardwood floor, gated-garbage enclosure by the street side. Current rents are much below market rent. With highly...Location, location! Great Investment, Turnkey opportunity to purchase this great income producing 8Plex, 4,584sf building, 19,200sf Parcel; 2 2BR & 6 1BR Apart, Zone C1, located in the heart of Lakewood, next to St. Clare Hospital. Well maintained 1-Story U-shape Brick Building, private courtyard, large playground area with fully gated fence, All the units are updated with tile, laminate, hardwood floor, gated-garbage enclosure by the street side. Current rents are much below market rent. With highly Rent demand, it has plenty of room to increase income, plus coin operated laundry. This Multi-Fam Building is on Lakewood Commercial Core, surrounding with businesses, residential developments; minutes to I5, JBLM Military Base, Towne Center.
- Listed by Hau Nguyen • HDN Real Estate
Property Details for 4902 111th Street Southwest
Community Name
Lakewood
School DistrictLakewood
Number of Assigned Spaces9
Total Covered Parking0
Entry Date03-01-2024
Energy SourceElectric,Natural Gas
SewerSewer Connected
LISTING UPDATED: 11/13/2024 10:15 AM
Property Details for 4902 111th Street Southwest
| Status | Active |
|---|---|
| MLS # | 2204265 |
| Days on Market | 261 |
| Cumulative Days on Market | 261 |
| Taxes | $9,480 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1960 |
| Lot Size | 0.44 AC / 19,200 SF |
| County | Pierce County |
Building Information for 4902 111th Street Southwest
Stories1Residences8Year Built1960Building Size-Lot Size0.44 AC / 19,200 SF
Property Information for 4902 111th Street Southwest
Summary
Location and General Information
- Style: 55 - 5-9 Units
- Site Features: Fenced-Fully, Patio
- Area: 37 - Lakewood
- Elementary School: Lakewood Elem
- Middle Or Junior School: Lakewood Mid
- High School: Lakewood High
- Effective Year Built Source: Public Records
- Directions: On I-5 take exit 125, Bridgeport to 111th Street, East to Property.
- Leased Items: None
- Property Sub Type: MULT
- View: No
- Waterfront: No
Taxes and HOA Information
- Tax Year: 2023
Parking
- Number of Carport Spaces: 0.0
- Carport: No
- Open Parking Spaces: 9.0
- Open Parking: Yes
Interior and Exterior Features
Bathroom Information
- Full Baths Upper: 0
- Three Quarter Baths Upper: 0
- Half Baths Upper: 0
- Main Level Bathrooms: 0
Bedroom Information
- Bedrooms Upper: 0
- Bedrooms Possible: 0
Interior Features
- Fireplaces Total: 0
- Floor Covering: Ceramic Tile, Hardwood, Laminate, Carpet
- Features: Ceramic Tile, Hardwood, Laminate, Laminate Hardwood, Wall to Wall Carpet
- Amenities: Playground,Storage
- Cooling: No
- Cooling: None
- Fireplace: No
- Heating: Yes
- Heating: Baseboard, Insert, Wall Unit(s)
- FIRPTA: No
Exterior Features
- Exterior: Brick
- Roof: Composition
- Security Features: PartiallyFenced
Property
Utilities
- Water Source: Public
- Water/Sewer/Garbage: 9139.35
- Power Company: PSE
- Sewer Company: Pierce County Sewer
- Water Company: Lakewood Water Dist.
- Power Production Type: Electric, Natural Gas
Property and Assessments
- New Construction YN: No
- Zoning Jurisdiction: City
- Foundation: Block, Poured Concrete
- Zoning Class: Multi-Family
- First Right Of Refusal: false
- Possible Use: Multi-Family
- MLS Square Footage Source: Realist
- Preliminary Title Ordered: Yes
- Senior Community: No
- Special Listing Conditions: None
- Year Built Effective: 1960
- Photos Count: 14
Lot Information
- Lot Size Dimensions: 163 X 130
- Lot Size Source: Realist
- Parcel Number Free Text: 508000-008-2
- Building Condition: Fair
- Calculated Square Footage: 4584
- Structure Type: Multi Family
- Square Footage Finished: 0
- Square Footage Unfinished: 0
- Building Area Total: 4584.0
- Building Area Units: Square Feet
- Property Type: Residential Income
- Elevation Units: Feet
- Irrigation Water Rights: No
Multi Family
Building Details
- Number of Uncovered Spaces: 9
- Number of Stories in Building: 1
- Vacancy Rate: 1
- Number Of Units Total: 8
- Units Below Grade: false
- Units In Building Total: 8
Financing / Income and Expenses
- Electric Expense: $3,152
- Total Expenses: 28319.66
- Gross Adjusted Income: 135432
- Gross Rent Multiplier: 16.1
- Gross Scheduled Income: $111,744
- Insurance Expense: $1,809
- Net Operating Income: $83,424
- Other Expenses: $2,657
- Total Monthly Income: 9312
- Fuel Expense: $2,082
Rental
Rent Information
- Occupant Type: Tenant
- Leasable Area: 4584.0
- Leasable Area Units: Square Feet
Property History for 4902 111th Street Southwest
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 4902 111th Street Southwest
Taxable ValueLand$540,100Additions$358,900Total$899,000
Tax Record2024$9,891 ($824 / month)
Home Facts
Total Finished SqFt4,584 SqFtAbove Ground SqFt4,584 SqFtStories1Lot Size19,200 SqFtStyleMulti-Family Res (5+ Units)Year Built1960Year Renovated1990ZoningC1CountyPIERCEAPN5080000082
Schools near 4902 111th Street Southwest
This home is within Clover Park School District.
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | PK to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | 9 to 12 |
Rating | School | Distance |
|---|---|---|
Lakeview Hope Academy PublicPK to 5 | ||
Lochburn Middle School Public6 to 8 | ||
Clover Park High School Public9 to 12 | ||
CPSD Open Doors Program Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.
Listing Courtesy of HDN Real Estate
Listing provided courtesy of NWMLS, RMLS or Yakima MLS. The information contained in this listing has not been verified by Compass or the MLS and should be verified by the buyer. The DOM value represents the number of days this listing has been Active on this website.
