Property Details
5907 to 5909 SW 111th #07-09
Lakewood, WA 98499
$590,077
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Property Overview
Two units, one smart investment, welcome to your next cash-flowing property in Lakewood! This well-maintained 2,360 sq ft duplex at 5907-5909 111th St Sw offers endless potential for investors, multi-generational living, or owner-occupants looking to offset their mortgage. Each spacious unit features 2 large bedrooms, 1.5 bathrooms, and a bright, inviting living room centered around a cozy fireplace. The layout boasts a large kitchen space with ample storage, plus a separate laundry room and half-bath on the main floor. Upstairs, you'll find two generously sized bedrooms and a full bathroom, providing comfortable separation of space. Situated on a large 8,316 sq ft lot, the property includes a fully fenced yard, newly replaced water heaters, updated bathroom (5909), new carpet, a patio, and abundant parking with up to 8 spaces (including carports). Well maintained to ensure it's move-in ready. In a prime location situated in the desirable Lakeview neighborhood, this duplex is just minutes from Joint Base Lewis-McChord (JBLM), making it a highly sought-after rental. Enjoy walking distance to Clover Park High School, local parks, and the Lakewood Towne Center. Commuting is a breeze with quick access to I-5 and Bridgeport Way. Whether you're looking to live in one unit and rent the other, accommodate extended living, or add a solid cash-flowing asset to your portfolio, this duplex delivers. Don't miss out on this rare Lakewood property!
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
Pierce
Neighborhood
Lakewood
Listed
Apr 8, 2026
Original Price
$599,733
Financial Summary
Cap Rate
7.40%
Net Operating Income
$44,472
Gross Scheduled Income
$52,800
Gross Rent Multiplier
11.35
Total Expenses
$8,328
Building & Use
Building Sq Ft
2,360
Leasable Area
2,360 sqft
Total Units
2
Zoning
Multi-Family
Possible Use
Multi-Family
Lot Size
8,316 sqft
Year Built
1958
Exterior & Lot
Lot Size
0.19 sqft
Year Built
1958
Exterior Materials
Wood
Sewer
Sewer Connected
Water Source
Public
Lot Features
Paved
Exterior Features
Wood
Location
City
Lakewood
County
Pierce
Coordinates
47.15701, -122.51497
Additional Information
Tax Year
2025
Annual Taxes
$5,216
Possession
Array
Based on information submitted to the MLS GRID as of May 2, 2026 12:00 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.
