$2,100,000
 $11,273 est/mo Sourced by Back At You

11002 Idlewild Road,Lakewood, WA 98498

Lakewood, WA 98498

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Description

Exceptional investment opportunity featuring 12 rental units across 6 duplex buildings, offering immediate income with significant upside potential. Centrally located with convenient access to shopping, services, and major transportation routes, this property is well-positioned to attract and retain long-term tenants. Each duplex consists of one 2-bedroom, 1-bath unit and one 1-bedroom, 1-bath unit, creating a desirable unit mix that appeals to a broad tenant base. Current rents are below market, presenting a compelling opportunity for a savvy investor to increase cash flow and improve overall returns. Several units have benefited from interior renovations, while portions of the exterior have been upgraded with new siding. Durable metal roofing, selective exterior improvements, and a straightforward design contribute to a relatively low-maintenance investment. An on-site laundry facility provides additional income potential for residents. Situated on a large parcel, the property appears to offer future development opportunities that could substantially increase income and overall value (buyer to verify all development potential and feasibility). Whether you're looking to expand an existing portfolio or acquire a value-add asset with multiple paths to increased returns, this property deserves serious consideration. Opportunities combining current income, rental upside, low-maintenance ownership, and potential future development are increasingly difficult to find.

Details

MLS #2535832
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year1955
Days On Site92
Listing Provided ByKeller Williams Rty Tacoma | Matt Harber

Features

SQ Feet6,240
Car PortYes
Story(s)1
Units12
ZoningMulti-Family
Acreage1.33

Taxes

Property16508

Area Information

StateWA
CountyPierce
CityLakewood
Zip Code98498
Area38 Lakewood
Community NameLakewood
School DistrictClover Park High
Elementary SchoolIdlewild Elem
High SchoolClover Park High
Listing VS Median (in Lakewood)
Price:
$2,100,000
low | high
Med:
$572,500
100% of Average
sqft:
6,240
low | high
Med:
1,929
100% of Average
$ / sqft:
$337
low | high
Med:
$299
61.068470883038% of Average
On site:
92
low | high
Med:
12
100% of Average
Sourced by Back At You

Market Activity 98498

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Learn More About This Property

StateWA
CountyPierce
CityLakewood
Zip Code98498
Area38 Lakewood
Community NameLakewood
School DistrictClover Park High
Elementary SchoolIdlewild Elem
High SchoolClover Park High
Listing VS Median (in Lakewood)
Price:
$2,100,000
low | high
Med:
$572,500
100% of Average
sqft:
6,240
low | high
Med:
1,929
100% of Average
$ / sqft:
$337
low | high
Med:
$299
61.068470883038% of Average
On site:
92
low | high
Med:
12
100% of Average
Sourced by Back At You
Listing Updated: July 10, 2026 at 11:24:33 AM PDT