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Listing courtesy of NWMLS / CENTURY 21 North Homes Realty

8602 Lake Street SW

Lakewood, WA 98498

– beds
– baths
1,548 sqft
6,038 sqft lot
$258 per sqft
1947 build

Opportunity is knocking with this fully rented duplex boasting an impressive 8% cap rate and room for future expansion. Perfectly situated just half a mile from the picturesque shores of American Lake, near JBLM, Harry Todd Park, and minutes from I-5, this corner-lot property offers a newer roof and a fully fenced yard. Inside, the main unit features 3 bedrooms plus a bonus room and 1 bath, while the second unit provides a cozy 1 bedroom and 1 bath. Whether you’re a seasoned investor or just starting to build your portfolio, this cash-flowing gem pairs convenience with unlimited potential. Don’t let this incredible opportunity pass you by—schedule your showing today!

Listing courtesy of NWMLS / CENTURY 21 North Homes Realty

Last checked: Checking… • Last updated Jan 14, 2025 •

MLS# 2321964 —

The Building

Year Built:

1947
New Construction:

false
Structure Type:

Duplex
Exterior Features:

Wood, Wood Products
Roof:

Composition
Units In Building Total:

2
Foundation Details:

Poured Concrete
Security Features:

PartiallyFenced
# of Units Total:

2
Stories Total:

1
Building Area Total:

1548
Building Area Units:

Square Feet
Calculated SqFt:

1548

Interior

Interior Features:

Hardwood
Flooring:

Hardwood
Fireplace:

false

Financial & Terms

Possession:

Closing

Location

Latitude:

47.127479
Longitude:

-122.550729
Directions:

I-5 to exit 122. Right at the stop sign and then left on Lake Street mile down on left.

The Property

Property Type:

Residential Income
Property Subtype:

Multi-Family
Property Condition:

Good
Parcel Number:

2200003560
Lot Features:

Corner Lot, Curbs, Paved, Sidewalk
Lot Size Units:

Square Feet
Lot Size Acres:

0.1386
Lot Size SqFt:

6038
Lot Size Source:

Realist
Zoning Class:

Multi-Family
View:

Territorial
View:

true
Waterfront:

false
Possible Use:

Multi-Family
Irrigation Water Rights:

false

Listing Agent

Contact info:

Taxes

Tax Year:

2024
Tax Annual Amount:

3930

Beds

Bedrooms Possible:

3

The Listing

Special Listing Conditions:

None

Heating & Cooling

Cooling:

false
Heating:

true
Cooling:

None
Heating:

Stove/Free Standing

Utilities

Water Company:

Lakewood Water
Water Source:

Public
Sewer:

Septic Tank
Sewer Company:

Septic
Power Company:

Pse
Water Sewer Garbage:

1050

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:

American Lake
Senior Community:

false
Association:

false

Parking

Parking Total:

2
Parking Uncovered Spaces:

2
Open Parking:

true
Open Parking Spaces:

2
Carport:

false

Listing courtesy of NWMLS / CENTURY 21 North Homes Realty

This "Three Trees" icon indicates a listing provided courtesy of NWMLS. Based on information submitted to the MLS GRID as of Sat Jan 18 2025 01:52 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. 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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Sale history

Date	Event	Source	Price	% Change
1/14/25 Jan 14, 2025	Listed / Active	NWMLS	$399,500	121.9% (6.7% / YR)
9/4/24 Sep 4, 2024	Relisted	NWMLS
8/12/24 Aug 12, 2024	Pending	NWMLS

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This multifamily located in South Lakes, Lakewood, WA 98498 is currently for sale for $399,500. 8602 Lake Street SW is a 1,548 square foot multifamily with – beds and – baths. 8602 Lake Street SW is in the South Lakes neighborhood of Lakewood and has a WalkScore® of 54, making it somewhat walkable. This multifamily is in the attendance area of Thomas Middle School, Tillicum Elementary School, Clover Park Early Learning Program, and Clover Park High School.

Listing courtesy of NWMLS / CENTURY 21 North Homes Realty

Disclaimer: The information contained in this listing has not been verified by CENTURY 21 North Homes Realty and should be verified by the buyer.