Lakewood, WA 98498 8314 Spruce Street SW
$1,050,000
24 more
Presented By: COMPASS and NWMLS
- MLS# 2352914
- 03/31/2025
Disclaimer: The information contained in this listing has not been verified by kvCORE WordPress Staging and should be verified by the buyer.
SQFT • 4,551
Home Details
Fantastic Investor Opportunity. Two separate houses and 10 rented garage units bring an almost 6% cap rate. New roof on the garages. New flooring, carpet and paint in both units. New appliances, windows and electrical wiring in the cottage unit. Completely rented out, refreshed and ready to be acquired. The main house boasts enormous rooms, a large kitchen and a separate kitchen in the basement. The cottage is filled with light, and fully updated yet maintains its mid century charm. Add in the garage units, a sturdy brick building with ten separate stalls, new roof last year, all fully rented out. JBLM minutes away, making this a popular tenant location. Photos limited due to tenant occupancy and respect for privacy. $120K in renovations.
Presented By: COMPASS and NWMLS
Interior Features for 8314 Spruce Street SW
Bedrooms
Bedrooms Possible0
Bedrooms Upper
Bathrooms
Baths Full Upper0
Baths Half Upper
Baths Three Quarter Upper
Other Interior Features
Air Conditioning Y/NYes
Fireplace Y/NNo
FlooringCeramic Tile, Vinyl Plank, Carpet
Heating Y/NYes
Power Production TypeElectric, Natural Gas
Total Fireplaces
Total Stories2
General for 8314 Spruce Street SW
AmenitiesBasement, Storage
Building Area UnitsSquare Feet
Cap Rate6.3
Carport Spaces1
Carport Y/NNo
CityLakewood
Cooling90%+ High Efficiency, Central A/C, Forced Air, Heat Pump, High Efficiency (Unspecified)
CountyPierce
DirectionsGPS is accurate
Electric Expense
Elementary SchoolTillicum Elem
Fuel Expense
HOANo
HOA Fee$
HeatingForced Air, Heat Pump, High Efficiency (Unspecified)
High SchoolClover Park High
High School DistrictClover Park
Insurance Expense1200
Leasable Area4551
Listing TermsCash Out, Conventional
Lot Size Square Feet23000
Lot Size UnitsSquare Feet
MLS Area41 – Lakewood/Tillicum
Middle/Junior High SchoolWoodbrook Mid
ModificationTimestamp2025-09-01T00:58:10.252Z
NWM_ShowMapLinkY
Net Operating Income66613
New ConstructionNo
Number Of Units Total2
Open Parking Spaces5
PossessionClosing
Property Style52 – Duplex
Property SubtypeMulti Family
Property TypeResidential Income
Public RemarksFantastic Investor Opportunity. Two separate houses and 10 rented garage units bring an almost 6% cap rate. New roof on the garages. New flooring, carpet and paint in both units. New appliances, window
RoofComposition, Torch Down
Security FeaturesPartially Fenced
Senior Community Y/NNo
SewerSewer Connected
Special Listing ConditionsNone
Standard StatusActive
StatusActive
Structure TypeDuplex
Subdivision NameTillicum
Tax Annual Amount10667
Tax Year2025
Units Below Gradefalse
Units In Building Total2
ViewTerritorial
Water CompanyLakewood Water
Water Sewer Garbage0
Year Built1952
Exterior for 8314 Spruce Street SW
Building Area Total4551
Covered Spaces10
Exterior AmenitiesBrick
Foundation DetailsBlock, Slab
Irrigation Water Rights Y/NNo
Lot FeaturesCorner Lot, Dead End Street, Paved, Sidewalk
Lot Size Acres0.528
Parking FeaturesRV Parking
Parking Uncovered Spaces5
Site FeaturesCable TV, Fenced-Partially, Gas Available, High Speed Internet, Outbuildings, RV Parking, Sprinkler System
Total Parking16
Water SourcePublic
Waterfront Y/NNo
Additional Details
Price History
Schools
High School
Clover Park High
Elementary School
Tillicum Elem
Middle School
Woodbrook Mid
Josh QA1
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