Listed by John L. Scott, Inc, Bought with Seattle Works Real Estate
NOT LISTED FOR SALE

14602 Portland Ave SW Unit C Lakewood, WA 98498

South Lakes Neighborhood

Estimated Value: $489,000 - $536,000

3 Beds
3 Baths
2,089 Sq Ft
$244/Sq Ft Est. Value

Last Sold March 08, 2024

Last sale price $500,000 $239 Per Sq Ft

Est. 2% decrease in value since last sale

Current estimated payment $3,004/month

11 Days on Market

Highlights

  • No HOA
  • Open Space
  • Property is Fully Fenced

About This Home

As of March 2024

Discover comfort and investment potential in this exceptional multifamily property on a spacious 1/4 acre lot with MF-2 zoning, ideal for multi-generational living or rental income. Directly across from Harry Todd Park. Featuring three units – A, B, and C – each with unique amenities. Washer & dryer in all units. Unit A offers a charming 1-bed, 1-bath with an updated kitchen and private yard. Unit B/C provides an upper studio with a separate electric meter for B, parking, and storage. Unit C boasts modern amenities, a garage, and extra storage. 2 detached storage sheds available for rent for B & C. Totaling 2,089 sq. ft., this property is perfect for rental investment or a comfortable residence with income potential.

Last Agent to Sell the Property

Deep Singh

John L. Scott, Inc License #122193 Listed on: 02/09/2024

John L. Scott, Inc

Last Buyer's Agent

Josh Bellinger

Seattle Works Real Estate License #140901

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 2198843

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $3,655

Year Built

  • Built in 1941

Lot Details

  • 9,344 Sq Ft Lot
  • Open Space
  • Property is Fully Fenced

Home Design

  • Triplex
  • Slab Foundation
  • Composition Roof
  • Wood Composite

Interior Spaces

  • 2,089 Sq Ft Home
  • 2-Story Property

Parking

  • 8 Parking Spaces
  • 2 Covered Spaces
  • Open Parking

Schools

  • Tillicum Elementary School
  • Clover Park High School

Utilities

  • Cooling System Mounted In Outer Wall Opening
  • Heating System Mounted To A Wall or Window

Community Details

  • No Home Owners Association
  • Tillicum Subdivision

Listing and Financial Details

  • Assessor Parcel Number 2200003300

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$3,655

Year Built

Built in 1941

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi-Family
  • StyleCode: 53 - Tri-plex
  • Year Built: 1941
  • Buyer Agency Compensation: 3
  • MLS Status: Sold
  • Prev Status: Closed
  • New Construction: No
  • CalculatedSquareFootage: 2089
  • EffectiveYearBuiltSource: Public Records
  • Special Features: None
  • Cumulative Days on Market: 349

Interior Features

  • Fireplace: No
  • Stories: 2
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0

Exterior Features

  • Roof: Composition
  • Lot Features: Open Space
  • View: No
  • Waterfront: No
  • Exterior Features: Wood Products
  • Foundation Details: Slab
  • Structure Type: Triplex

Garage/Parking

  • Carport Spaces: 2
  • Carport Y N: No
  • Covered Parking Spaces: 2
  • Open Parking Spaces: 8
  • Open Parking: Yes
  • Total Parking Spaces: 8
  • ParkingUncoveredSpaces: 8

Utilities

  • Sewer: Sewer Connected
  • Water Source: Community
  • Security: PartiallyFenced
  • Cooling: Wall Unit(s)
  • Cooling Y N: Yes
  • Heating: Wall Unit(s)
  • Heating Yn: Yes
  • WaterSewerGarbage: 1200

Condo/Co-op/Association

  • Senior Community: No
  • Association: No
  • Common Interest: Multi-Family

Fee Information

  • Annual Fuel Expense: 2400

Schools

  • Junior High Dist: Clover Park
  • High School: Clover Park High

Lot Info

  • Parcel Number: 2200003300
  • Lot Size Acres: 0.2145
  • Lot Size Sq Ft: 9344
  • Irrigation Water Rights: No
  • ResoLotSizeUnits: SquareFeet
  • ShowMapLink: true
  • SiteFeatures: Fenced-Fully
  • MLSLotSizeSource: County

Green Features

  • Power Production Type: Electric

Rental Info

  • GrossRentMultiplier: 52200
  • LeasedItems: None
  • TotalMonthlyIncome: 4350

Multi Family

  • Gross Scheduled Income: 52200
  • Net Operating Income: 40886
  • Number Of Units Total: 3
  • Electric Expense: 2400
  • Insurance Expense: 1659
  • Leasable Area: 2089
  • EnergySource: Electric
  • UnitsInBuildingTotal: 1
  • UnitsBelowGrade: true
  • VacancyRate: 2

Tax Info

  • Year: 2023
  • Tax Annual Amount: 3655

MLS Schools

  • Elementary School: Tillicum Elem

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Feb 9, 2024
Closed on
Mar 6, 2024
Sold by
Lloyd Matthew R
Bought by
Garner Curtis
Seller's Agent
Deep Singh
John L. Scott, Inc
Buyer's Agent
Josh Bellinger
Seattle Works Real Estate
List Price
$449,995
Sold Price
$500,000
Premium/Discount to List
$50,005
11.11%
Views
23
Current Estimated Value
$491,763

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$8,237
Avg. Annual Appreciation
-2.68%
Original Mortgage
$475,000
Outstanding Balance
$468,095
Interest Rate
6.69%
Mortgage Type
New Conventional
Estimated Equity
$13,000

Purchase Details

Closed on
Aug 2, 2017
Sold by
Colbeth Joseph E
Bought by
Lloyd Matthew R

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$146,346
Interest Rate
3.96%
Mortgage Type
VA

Purchase Details

Closed on
Nov 20, 2000
Sold by
Ranes James A
Bought by
Mcconnell Don A

Purchase Details

Closed on
Dec 4, 1993
Sold by
Jerden William D and Sande Cheryl
Bought by
Johnson Bruce D and Johnson Mildred B
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Garner Curtis $500,000 Ticor Title
Lloyd Matthew R $142,984 Fidelity National Title
Mcconnell Don A -- First American Title Ins Co
Johnson Bruce D -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Garner Curtis $475,000
Previous Owner Lloyd Matthew R $190,259
Previous Owner Lloyd Matthew R $186,710
Previous Owner Lloyd Matthew R $185,940
Previous Owner Lloyd Matthew R $146,346
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
03/08/2024 03/08/24 Sold $500,000 +11.1% $239 / Sq Ft
02/20/2024 02/20/24 Pending -- -- --
02/09/2024 02/09/24 For Sale $449,995 -- $215 / Sq Ft
Source: Northwest Multiple Listing Service (NWMLS)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $3,743 $516,700 $176,300 $340,400
2024 $3,743 $470,800 $165,300 $305,500
2023 $3,743 $343,300 $152,000 $191,300
2022 $3,503 $350,000 $152,000 $198,000
2021 $3,236 $245,600 $92,300 $153,300
2019 $2,338 $209,600 $66,500 $143,100
2018 $1,036 $191,600 $61,100 $130,500
2017 $376 $137,600 $44,000 $93,600
2016 $1,590 $116,900 $35,100 $81,800
2014 $1,611 $97,400 $28,700 $68,700
2013 $1,611 $89,600 $28,700 $60,900
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 2198843

Northwest Multiple Listing Service (NWMLS)

APN: 220000-3300