Property Details
4902 111th Street SW
Lakewood, WA 98499
$1,650,000
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Property Overview
Location, Location! Investors, Turnkey opportunity to purchase this great income-producing 8-Unit multi-family property; 4,584SF U-Shape Courtyard building, 19,200SF Parcel with 2 two-bedroom Apartments & 6 one-bedroom Apartments, Zone C1, located in the heart of Lakewood, Across from St. Clare Hospital. Well maintained, 1-story Brick Building, private courtyard, large playground area with fully fence with security gates, All the units are updated with tile, laminate, hardwood floor, gated-garbage enclosure. Current rents are below market. With highly Rent demand, it has plenty of room to increase income, plus coin-operated laundry machines. This Multi-Fam Building is on Lakewood Commercial Core, surrounded by businesses, shopping centers, residential developments; minutes to I5, JBLM, Military Bases, Towne Center.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
Pierce
Neighborhood
Lakewood
Listed
Mar 27, 2026
Structure Type
Multi Family
Parcel Number
5080000082
Tax & HOA
Annual Property Tax
$9,856 (2025)
Est. Monthly Tax
$821/mo
Financial Summary
Cap Rate
5.19%
Net Operating Income
$85,596
Gross Scheduled Income
$114,264
Gross Rent Multiplier
6.78
Total Expenses
$28,668
Vacancy Rate
2.0%
Building & Use
Building Sq Ft
4,584
Leasable Area
4,584 sqft
Total Units
8
Zoning
Multi-Family
Possible Use
Multi-Family
Lot Size
19,201 sqft
Year Built
1960
Exterior & Lot
Lot Size
0.44 sqft
Year Built
1960
Exterior Materials
Brick
Sewer
Sewer Connected
Water Source
Public
Exterior Features
Brick
Community & Access
Directions
On I-5 take exit 125, Bridgeport to 111th Street, East to Property.
Location
City
Lakewood
County
Pierce
Coordinates
47.15613, -122.50270
Additional Information
Tax Year
2025
Annual Taxes
$9,856
Possession
Array
Based on information submitted to the MLS GRID as of June 1, 2026 11:08 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.
