Property Details
9221 -9223 North Lake Drive SW
Lakewood, WA 98498
$475,000
Pending Inspection
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Property Overview
Exceptional investment opportunity featuring a well-maintained single-level duplex in a highly convenient commuter location near Joint Base Lewis-McChord, American Lake, shopping, dining, parks, and major freeway access. This income-producing property offers strong long-term potential with historically low vacancy rates and practical one-level living in both units. Each residence features updated flooring, in-unit washer and dryer, spacious layouts, and private fenced outdoor spaces ideal for added comfort and functionality. Generous parking setup includes covered carport spaces plus dedicated storage for each unit. Conveniently positioned near endless amenities and major employment hubs, this duplex presents an outstanding opportunity for investors or owner-occupants seeking versatility, location, and lasting value.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Pending Inspection
County
Pierce
Neighborhood
American Lake
Listed
Jun 5, 2026
Structure Type
Duplex
Parcel Number
6385000010
Tax & HOA
Annual Property Tax
$4,648 (2025)
Est. Monthly Tax
$387/mo
Financial Summary
Cap Rate
59.00%
Net Operating Income
$17,400
Gross Scheduled Income
$38,400
Gross Rent Multiplier
12.36
Total Expenses
$7,892
Vacancy Rate
50.0%
Building & Use
Building Sq Ft
1,606
Leasable Area
1,606 sqft
Total Units
2
Zoning
Multi-Family
Possible Use
Multi-Family
Lot Size
12,206 sqft
Year Built
1962
Exterior & Lot
Lot Size
0.28 sqft
Year Built
1962
Exterior Materials
Brick, Wood
Sewer
Sewer Connected
Water Source
Public
Lot Features
Paved
Exterior Features
Brick, Wood, Wood Products
Community & Access
Directions
GPS Friendly.
Location
City
Lakewood
County
Pierce
Coordinates
47.14460, -122.56062
Additional Information
Tax Year
2025
Annual Taxes
$4,648
Possession
Array
Based on information submitted to the MLS GRID as of June 10, 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.
