Property Details
6801 -6803 Steilacoom Boulevard SW
Lakewood, WA 98499
$620,000
Active
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Property Overview
This recently updated duplex presents a strong opportunity for steady cash flow. Both 2 bed / 1 bath units feature modernized kitchens with newer appliances, quality fixtures, and quartz or granite countertops. Interiors include updated bathrooms, new flooring, and fresh paint throughout. The property sits on a large lot with fully fenced backyards, separated by a fence between the units for added privacy. It has been pre-inspected and is fully occupied with reliable tenants. Current rents are approximately 20% below market value, offering room for future increases. A detached two-car garage may provide additional rental income or potential conversion to another unit (buyer to verify),6 more parking spots in driveway. Conveniently located near the lake and many local amenities. Please do not disturb tenants.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
Pierce
Neighborhood
Gravelly Lake
Listed
Mar 10, 2026
Original Price
$630,000
Financial Summary
Cap Rate
4.90%
Net Operating Income
$30,855
Gross Scheduled Income
$42,000
Gross Rent Multiplier
15.00
Total Expenses
$6,945
Vacancy Rate
10.0%
Building & Use
Building Sq Ft
1,548
Leasable Area
1,548 sqft
Total Units
2
Lot Size
9,884 sqft
Year Built
1951
Exterior & Lot
Lot Size
0.23 sqft
Year Built
1951
Exterior Materials
Brick, Cement Plank
Sewer
Available
Lot Features
Corner Lot, Sidewalk
Exterior Features
Brick, Cement Planked
Location
City
Lakewood
County
Pierce
Coordinates
47.17666, -122.52779
Additional Information
Tax Year
2025
Annual Taxes
$5,382
Possession
Array
Based on information submitted to the MLS GRID as of May 13, 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.
