Active · Residential Income

7418 207th Avenue E, Bonney Lake, WA 98391

Bonney Lake, WA 98391

$820,000

— bedrooms · — bathrooms · 0 sq ft

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Listing provided by Rethinking Real Estate LLC · MLS #2527663 · Active

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About this property

Live at Lake Tapps while rental income from next door helps offset housing costs. Rare owner-occupant or investment opportunity on a quiet dead-end street surrounded by mature trees. Each spacious unit offers nearly 1,400 sq ft with 3 bedrooms, 2.5 baths, full-size laundry, large primary suite with walk-in closet, private deck and backyard, plus an oversized 2-car garage. Vacant Unit 2 is move-in ready and recently refreshed with new interior paint, new laminate flooring throughout the main level, new front-load washer and dryer, new water heater, new range and granite countertops. Unit 1 has a reliable month-to-month tenant who would like to stay, providing immediate rental income. Unit 1 also had a furnace replacement and laminate kitchen/dining flooring in 2022. The entire building received a new roof and gutters in 2026. The previous Unit 2 tenant remained for 9 years, reflecting the property's strong tenant appeal. A standout feature is neighborhood membership with private access to Church Lake Park on Lake Tapps, including picnic areas, playground and boat launch access, a rare benefit in an area with limited public lake access. Owned by the sellers since new in 2003, this duplex combines long-term rental appeal, attractive pro forma income potential and the flexibility to live in one side while income from the other helps reduce monthly housing expense. Enjoy Lake Tapps access and a residential setting while building equity with income-producing real estate.

Property details

Property type: Multi Family
Year built: 2003
Lot size: 15,246 sq ft
Association dues: $235 · Annually
Annual property tax: $7,797 (2025)
Parking spaces: 8
School district: Sumner-Bonney Lake

Listings courtesy of Northwest MLS as distributed by MLS GRID.

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