Property Details
1521 1523 151st Street Ct S
Spanaway, WA 98387
$575,000
Active
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Property Overview
Duplex in Spanaway – each side 2 bedrooms, 1 bathroom, fireplace in living room, kitchen with dining space and laundry room. Large yards with fully fenced back yards. Single car garage and plenty of parking. Quiet cul-de sac near Spanaway Lake Park and JBLM. Ready for new owners – either live in vacant side or re-rent for cash flow. Exterior paint is new! Right side (1523) recently remodeled with new SS appliances, new LVP flooring and new carpet, new kitchen sink & faucet, new bathroom vanity and faucet. Owners have never lived in property. Washer plumbing and dryer plug exist and ready for your appliances. Left side (1521) currently with tenant in place on month to month lease.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
Pierce
Neighborhood
Spanaway Lake
Listed
Apr 25, 2026
Financial Summary
Cap Rate
5.68%
Net Operating Income
$32,668
Gross Scheduled Income
$43,320
Gross Rent Multiplier
13.27
Total Expenses
$8,486
Vacancy Rate
5.0%
Building & Use
Building Sq Ft
1,884
Leasable Area
2,528 sqft
Total Units
2
Zoning
Residential
Possible Use
Residential
Lot Size
19,502 sqft
Year Built
1978
Exterior & Lot
Lot Size
0.45 sqft
Year Built
1978
Garage
2 spaces
Exterior Materials
Wood
Sewer
Septic Tank
Water Source
Public
Lot Features
Corner Lot, Paved
Exterior Features
Wood, Wood Products
Location
City
Spanaway
County
Pierce
Coordinates
47.12030, -122.45566
Additional Information
Tax Year
2026
Annual Taxes
$5,822
Possession
Array
Based on information submitted to the MLS GRID as of May 2, 2026 1:00 AM. 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.
