About this home

Lakewood multifamily redevelopment opportunity just minutes from JBLM! This MF-3 zoned property offers a proposed 25-unit apartment concept with substantial preliminary development work already completed. Available documentation includes civil engineering plans, topographic survey, geotechnical analysis, landscape design, and mechanical, electrical, and energy coordination—providing a valuable foundation for further development review. Two existing tenant-occupied structures offer potential interim rental income. Potential eligibility for Lakewood's 12-year MFTE program, subject to City requirements and approval. Offered at $799,000, approximately $31,960 per proposed unit. An opportunity for builders and investors seeking multifamily development potential in an established rental market. Buyer to verify feasibility, density, and approvals. Do NOT disturb tenants. Seller is a licensed real estate agent.

Location

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Basics

Property type: Single Family Residence
Style: 1 Story
Stories: 1 story
Condition: Good
Year built: 1945 (renovated 1988)
Lot size: 19,600 sq ft (0.45 acres)
County: Pierce
MLS #: NWM2506001

Interior

Heating: Baseboard
Cooling: None
Flooring: Vinyl Plank, Carpet
Entry level: Main

Exterior & lot

Exterior features: Metal/Vinyl
Roof: Composition
Lot features: Dead End Street, Value In Land
Topography: Level
Waterfront: No

Parking

Parking spaces: 2
Garage: Yes
Covered spaces: 2
Parking features: Driveway, Detached Garage

Utilities

Water: Public
Sewer: Sewer Connected
Power: Electric

Community & fees

Subdivision: Lakewood
Property tax: $5,356 (2025)

Transaction

Original list price: $875,000 (8.7% price cut)
Listed on: Dec 23, 2025
Days active: 303
Price per sq ft: $960
Listing terms: Assumable, Cash, Conventional, VA Loan
Possession: Closing, Subject To Tenant Rights

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Sale history

Earlier listings of this home on the MLS.

2025-12-23: Active$799,000
2015-04-23: Sold$100,000
2015-04-23: Sold$100,000
2015-04-23: Sold$100,000

Schools

School district: Clover Park

High: Clover Park High School
Top 93% in WA

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Listing provided courtesy of: eXp Realty

Listing agent: Claire Fralish.

Based on information submitted to the MLS GRID as of —. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. IDX information provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

Data last updated 2026-10-17.