Property Details
122 & 124 173rd Street E
Spanaway, WA 98387
$719,950
Pending
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Property Overview
Exceptional duplex opportunity offering instant income with secure, long-term tenants already in place. Well cared for by long time owners, each spacious unit features 3 bedrooms, 2.5 bathrooms, and approximately 1,391 sqft with an open concept floor plan, higher end finishes, and excellent curb appeal. Interiors offer warm wood cabinetry, durable flooring, spacious kitchens, large living areas, and private fenced backyards ideal for tenants. This property is built for convenience and strong rental appeal with a two car garage plus abundant additional uncovered parking for tenants and guests. Long-term tenants provide immediate cash flow and added peace of mind for investors seeking stability. Conveniently located near Spanaway Lake, parks, shopping, dining, and within the Bethel School District, with easy access to Joint Base Lewis-McChord, Mountain Highway, and major commuter routes. A turnkey investment with strong tenant history, attractive finishes, and a prime location. This is one you won’t want to miss. ***Great opportunity to purchase both duplexes together! See additional duplex next door listed on the MLS #2512342.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Pending
County
Pierce
Neighborhood
Lake Park
Listed
Apr 24, 2026
Financial Summary
Cap Rate
5.10%
Net Operating Income
$3,675,649
Gross Scheduled Income
$52,200
Gross Rent Multiplier
13.79
Total Expenses
$15,444
Building & Use
Building Sq Ft
2,782
Leasable Area
3,606 sqft
Total Units
2
Zoning
Multi-Family
Possible Use
Multi-Family
Lot Size
10,650 sqft
Year Built
2009
Exterior & Lot
Lot Size
0.24 sqft
Year Built
2009
Garage
4 spaces
Exterior Materials
Cement, Stone, Wood
Sewer
Septic Tank
Water Source
Public
Lot Features
Open Space, Paved
Exterior Features
Cement/Concrete, Stone, Wood
Location
City
Spanaway
County
Pierce
Coordinates
47.10003, -122.43087
Additional Information
Tax Year
2026
Annual Taxes
$6,880
Possession
Array
Based on information submitted to the MLS GRID as of April 30, 2026 1:00 PM. 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, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2026 NWMLS. All rights reserved.
IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2026 NWMLS. All rights reserved.
