Active · Residential Income

11002 Idlewild Road SW, Lakewood, WA 98498

Lakewood, WA 98498

$2,100,000

— bedrooms · — bathrooms · 0 sq ft

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Listing provided by Keller Williams Rty Tacoma · MLS #2535832 · Active

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About this property

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.

Property details

Property type: Multi Family
Year built: 1955
Lot size: 58,109 sq ft
Association dues: $0 · frequency not provided
Annual property tax: $16,508 (2025)
Parking spaces: 18
School district: Clover Park

Listings courtesy of Northwest MLS as distributed by MLS GRID.

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