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Listing courtesy of NWMLS / COMPASS

8314 Spruce Street SW

Lakewood, WA 98498

– beds
– baths
4,551 sqft
~1/2 acre lot
$252 per sqft
1968 build

Fantastic Investor Opportunity. Two separate houses and 10 rented garage units bring an almost 6% cap rate. New roof on the garages. New flooring, carpet and paint in both units. New appliances, windows and electrical wiring in the cottage unit. Completely rented out, refreshed and ready to be acquired. The main house boasts enormous rooms, a large kitchen and a separate kitchen in the basement. The cottage is filled with light, and fully updated yet maintains its mid century charm. Add in the garage units, a sturdy brick building with ten separate stalls, new roof last year, all fully rented out. JBLM minutes away, making this a popular tenant location. Photos limited due to tenant occupancy and respect for privacy. $120K in renovations.

Listing courtesy of NWMLS / COMPASS

Last checked: Checking… • Last updated Apr 7, 2025 •

MLS# 2352914 —

The Building

Year Built:

1952
Year Built:

1968
Year Built Source:

Public Records
New Construction:

false
Structure Type:

Duplex
Roof:

Composition, Torch Down
Foundation Details:

Block, Slab
Exterior Features:

Brick
Units In Building Total:

2
# of Units Total:

2
Stories Total:

2
Building Area Total:

4551
Building Area Units:

Square Feet
Calculated SqFt:

4551
SqFt Source:

Per PCTR
Construction Materials:

Brick

Interior

Interior Features:

Ceramic Tile, Wall to Wall Carpet
Flooring:

Ceramic Tile, Vinyl Plank, Carpet
Fireplace:

false

Financial & Terms

Possession:

Closing

Location

Latitude:

47.127
Longitude:

-122.546786
Directions:

GPS is accurate

The Property

Property Type:

Residential Income
Property Subtype:

Multi-Family
Parcel Number:

2200002412
Lot Features:

Corner Lot, Dead End Street, Paved, Sidewalk
Lot Size Units:

Square Feet
Lot Size Acres:

0.528
Lot Size SqFt:

23000
Lot Size Source:

Public Records
Zoning Jurisdiction:

City
View:

Territorial
View:

true
Waterfront:

false
Irrigation Water Rights:

false

Listing Agent

Contact info:

Taxes

Tax Year:

2025
Tax Annual Amount:

10667

The Listing

Special Listing Conditions:

None

Heating & Cooling

Cooling:

true
Heating:

true
Cooling:

90%+ High Efficiency, Central A/C, Forced Air, Heat Pump, High Efficiency (Unspecified)
Heating:

Forced Air, Heat Pump, High Efficiency (Unspecified)

Utilities

Water Company:

Lakewood Water
Water Source:

Public
Sewer:

Sewer Connected
Sewer Company:

Pierce County
Power Company:

Pse
Cable Connected:

Xfinity

Schools

Elementary School:

Tillicum Elem
Middle Or Junior School:

Woodbrook Mid
High School:

Clover Park High
High School District:

Clover Park

The Community

Subdivision Name:

Tillicum
Amenities:

Basement,Storage
Senior Community:

false
Association:

false

Parking

Parking Total:

16
Parking Uncovered Spaces:

5
Parking Features:

RV Parking
Open Parking:

true
Open Parking Spaces:

5
Carport Spaces:

1
Carport:

false
Covered Spaces:

10

Listing courtesy of NWMLS / COMPASS

This "Three Trees" icon indicates a listing provided courtesy of NWMLS. Based on information submitted to the MLS GRID as of Wed Apr 23 2025 11:36 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. To submit a request for a takedown notice per the Digital Millennium Copyright Act (the “DMCA”) for any NWMLS listings please see these guidelines and follow the instructions provided.

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Walk Score®

Provided by WalkScore® Inc.

Bike Score®

Provided by WalkScore® Inc.

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Provided by HowLoud

Sale history

Date	Event	Source	Price	% Change
3/31/25 Mar 31, 2025	Listed / Active	NWMLS	$1,150,000	115.0% (19.1% / YR)
3/28/19 Mar 28, 2019		NWMLS	$535,000

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This multifamily located in South Lakes, Lakewood, WA 98498 is currently for sale for $1,150,000. 8314 Spruce Street SW is a 4,551 square foot multifamily with – beds and – baths. 8314 Spruce Street SW is in the South Lakes neighborhood of Lakewood and has a WalkScore® of 50, making it car-dependent. This multifamily is in the attendance area of Thomas Middle School, Tillicum Elementary School, Clover Park High School, and Clover Park Early Learning Program.

Listing courtesy of NWMLS / COMPASS

Disclaimer: The information contained in this listing has not been verified by COMPASS and should be verified by the buyer.