MLS #2535832 / Listing provided by NWMLS & Keller Williams Tacoma.
$2,100,000
11002 Idlewild Road SW
Lakewood,
WA
98498
Sq Ft
Per Sq Ft
Year Built
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.
Disclaimer: The information contained in this listing has not been verified by Hawkins-Poe Real Estate Services and should be verified by the buyer.
Bedrooms
- Upper Level Bedrooms: 0
Fireplaces
- Total Fireplaces: 0
Heating & Cooling
- Heating: Yes
- Cooling: No
Parking
- Garage Spaces: 0
- Parking Total: 18
- Total Uncovered Parking Spaces: 12
Structure
- Roof: Metal
- Exterior Features: Cement/Concrete, Stucco, Wood
Lot Details
- Lot Features: Curbs, Dead End Street, Paved
- Acres: 1.334
Schools
- High School District: Clover Park
- High School: Clover Park High
- Middle School: Mann Mid
- Elementary School: Idlewild Elem
Lot Details
- Lot Features: Curbs, Dead End Street, Paved
- Acres: 1.334
Power
- Energy Source: Electric
- Power Company: PSE
Water, Sewer, and Garbage
- Sewer Company: Pierce County
- Sewer: Sewer Connected
- Water Company: Lakewood Water
- Water Source: Public
- Water, Sewer, and Garbage: 17907
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