Property Details
14312 Thorne Lane SW #15
Lakewood, WA 98498
$2,725,000
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Property Overview
Opportunities like this are rare. Welcome to American Lake, where legacy meets potential. This 9-unit waterfront multifamily property is ready for its next chapter. Featuring four 1-bedroom standalone cottages, a fourplex offering 2-bedroom units, and a private waterfront home, this one-of-a-kind offering combines character, flexibility, and income potential. Current rents are below market, providing strong upside for investors. Enjoy direct lake access with on-site watersport storage, an enormous dock, and surplus parking. Whether you choose to hold long-term, convert to luxury short-term rentals, or owner-occupy and build community, this property delivers. Western exposure ensures unforgettable sunsets over the water. Greet location!
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
Pierce
Neighborhood
American Lake
Listed
Sep 11, 2025
Financial Summary
Cap Rate
5.20%
Net Operating Income
$152,962
Gross Scheduled Income
$204,240
Gross Rent Multiplier
14.00
Total Expenses
$51,278
Vacancy Rate
8.0%
Building & Use
Building Sq Ft
7,716
Leasable Area
10,620 sqft
Total Units
6
Zoning
Multi-Family
Possible Use
Multi-Family
Lot Size
17,860 sqft
Year Built
1999
Exterior & Lot
Lot Size
0.41 sqft
Year Built
1999
Exterior Materials
Wood
Sewer
Septic Tank
Water Source
Individual Well
Lot Features
Adjacent to Public Land, Corner Lot
Exterior Features
Wood, Wood Products
Location
City
Lakewood
County
Pierce
Coordinates
47.12731, -122.55699
Additional Information
Tax Year
2025
Annual Taxes
$21,758
Possession
Array
Based on information submitted to the MLS GRID as of April 25, 2026 5:10 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.
