NOT LISTED FOR SALE

12502 Addison St SW Unit 1-16 Lakewood, WA 98499

Pacific-Lakeview Neighborhood
-- Bed
-- Bath
13,200 Sq Ft
0.52 Acres

Last Sold October 15, 2021

Last sale price $2,700,000 $205 Per Sq Ft

13 Days on Market

Highlights

  • 0.52 Acre Lot
  • Partially Fenced Property
  • Wall to Wall Carpet
  • Patio
  • Wood Siding

About This Home

As of October 2021

Investor Alert! Incredible opportunity to own Clover Creek Apartments featuring 15 - 2 bed/1 bath units. The units are all turn-key and renovated to market standards. Coin operated laundry provides additional income. Rental rates increasing dramatically in Lakewood with room to increase the rent on all of these 2 bed units to $1,350+$135/RUBS. Very quiet dead end street with lots of parking, yards for main floor residents, patios for all, easy access to local amenities and employment for tenants. Brand new TPO Membrane roof (50 year roof), full exterior paint, and all interior units renovated to market standards to maximize rental income. Located near both Ft. Lewis and McChord Air Force Base.

Last Agent to Sell the Property

Ross Hubbard

The Paragon Group License #117280 Listed on: 07/26/2021

Co-Listed By

Tiffany Howell

The Paragon Group License #128685

Last Buyer's Agent

Anders Ibsen

Windermere Prof Partners License #21033248

Windermere Prof Partners

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 1814129

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $18,842

Year Built

  • Built in 1965 | Remodeled

Lot Details

  • 0.52 Acre Lot
  • Street terminates at a dead end
  • Partially Fenced Property

Parking

  • 25 Parking Spaces

Home Design

  • Pillar, Post or Pier Foundation
  • Slab Foundation
  • Composition Roof
  • Wood Siding

Interior Spaces

  • 13,200 Sq Ft Home
  • 3-Story Property

Flooring

  • Wall to Wall Carpet
  • Laminate

Additional Features

  • Patio
  • Cable TV Available

Community Details

  • Lakewood Subdivision

Listing and Financial Details

  • Assessor Parcel Number 0219123102

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$18,842

Year Built

Built in 1965 | Remodeled

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi-Family
  • StyleCode: 56 - 10+ Units
  • Year Built: 1965
  • Buyer Agency Compensation: 3
  • MLS Status: Sold
  • Prev Status: Closed
  • New Construction: No
  • CalculatedSquareFootage: 13200
  • EffectiveYearBuiltSource: Public Records
  • Special Features: None
  • Cumulative Days on Market: 327

Interior Features

  • Possible Use: Multi-Family
  • Fireplace: No
  • Flooring: Laminate, Carpet
  • Interior Amenities: Wall to Wall Carpet, Laminate, Laminate Hardwood
  • Stories: 3
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0
  • Amenities: Coin Op Laundry

Exterior Features

  • Roof: Composition
  • Lot Features: Dead End Street, Paved
  • View: No
  • Waterfront: No
  • Exterior Features: Wood
  • Foundation Details: Post & Pillar, Slab
  • Property Condition: Remodeled
  • Structure Type: Multi Family

Garage/Parking

  • Carport Y N: No
  • Open Parking: No
  • Total Parking Spaces: 25
  • ParkingUncoveredSpaces: 0

Utilities

  • Sewer: Sewer Connected
  • Water Source: Public
  • Security: FullyFenced
  • Heating Yn: Yes
  • Utilities: Cable Connected, Natural Gas Available, Sewer Connected, Electric
  • PowerCompany: Lakeview Light & Power
  • SewerCompany: Pierce County Sewer
  • WaterCompany: Lakewood Water District
  • WaterSewerGarbage: 19982

Condo/Co-op/Association

  • Senior Community: No
  • Association Fee Frequency: Annually

Schools

  • Junior High Dist: Lakewood
  • High School: Buyer To Verify
  • Middle Or Junior School: Buyer To Verify

Lot Info

  • Parcel Number: 0219123102
  • Lot Size Acres: 0.5177
  • Lot Size Sq Ft: 22550
  • Irrigation Water Rights: No
  • ResoLotSizeUnits: SquareFeet
  • ShowMapLink: true
  • SiteFeatures: Cable TV,Fenced-Partially,Gas Available,Patio
  • MLSLotSizeSource: PCR
  • ZoningJurisdiction: City
  • ZoningClass: Multi-Family

Green Features

  • Power Production Type: Electric

Rental Info

  • Furnished: Unfurnished
  • GrossRentMultiplier: 12
  • LeasedItems: None
  • TotalMonthlyIncome: 18660

Multi Family

  • Gross Scheduled Income: 221520
  • Net Operating Income: 138827
  • Number Of Units Total: 7
  • Insurance Expense: 5364
  • Leasable Area: 13200
  • EnergySource: Electric
  • UnitsInBuildingTotal: 15
  • UnitsBelowGrade: false
  • VacancyRate: 5

Tax Info

  • Year: 2020
  • Tax Annual Amount: 18842

MLS Schools

  • Elementary School: Buyer To Verify

Range of Values:

Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
10/15/2021 10/15/21 Sold $2,700,000 +8.0% $205 / Sq Ft
08/08/2021 08/08/21 Pending -- -- --
07/26/2021 07/26/21 For Sale $2,499,000 -- $189 / Sq Ft
Source: Northwest Multiple Listing Service (NWMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Ross Hubbard

    Seller's Agent in 2021

    Ross Hubbard

    The Paragon Group

    (425) 443-3192

    1 in this area

    47 Total Sales

    Ross Hubbard
    Section Image

  • T

    Seller Co-Listing Agent in 2021

    Tiffany Howell

    The Paragon Group

    Section Image
  • Anders Ibsen

    Buyer's Agent in 2021

    Anders Ibsen

    Windermere Professional Partners

    (253) 370-0201

    1 in this area

    256 Total Sales

    Anders Ibsen
    Section Image
See All Agents

Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 1814129

Northwest Multiple Listing Service (NWMLS)

Washington Pierce County Lakewood 98499 Pacific-Lakeview

12502 Addison St SW Unit 1-16, Lakewood, WA

This home is located at 12502 Addison St SW Unit 1-16, Lakewood, WA 98499 since 26 July 2021. This property was built in 1965. 12502 Addison St SW Unit 1-16 is a home located in Pierce County with nearby schools including Tyee Park Elementary School, Lochburn Middle School, and Clover Park High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Northwest Multiple Listing Service (NWMLS) 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. Listing information is provided by the Northwest Multiple Listing Service (NWMLS). Property information is based on available data that may include MLS information, county records, and other sources. Listings marked with the 3 tree icon and provided by NWMLS. All properties are subject to prior sale or withdrawal. IDX information is provided exclusively for consumers’ personal noncommercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, that the data is deemed reliable but is not guaranteed by MLS GRID. ©2025 NWMLS.
Based on information submitted to the MLS GRID

Nearby Homes