8314 Spruce St SW Lakewood, WA 98498
South Lakes NeighborhoodEstimated payment $6,434/month
Highlights
- RV Access or Parking
- Corner Lot
- Forced Air Heating and Cooling System
- Territorial View
- No HOA
- Ceramic Tile Flooring
About This Home
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.
Source: Northwest Multiple Listing Service (NWMLS)
MLS#: 2352914
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $10,667
Year Built
- Built in 1952
Lot Details
- 0.53 Acre Lot
- Street terminates at a dead end
- Partially Fenced Property
- Corner Lot
- Sprinkler System
Home Design
- Duplex
- Brick Exterior Construction
- Block Foundation
- Slab Foundation
- Composition Roof
- Bitumen Roof
Interior Spaces
- 4,551 Sq Ft Home
- 2-Story Property
- Territorial Views
Flooring
- Carpet
- Ceramic Tile
- Vinyl Plank
Bedrooms and Bathrooms
- 4 Bedrooms
- 3 Bathrooms
Parking
- 16 Parking Spaces
- 10 Covered Spaces
- Open Parking
- RV Access or Parking
Outdoor Features
- Outbuilding
Schools
- Tillicum Elementary School
- Woodbrook Mid Middle School
- Clover Park High School
Utilities
- Forced Air Heating and Cooling System
- High Efficiency Air Conditioning
- High Efficiency Heating System
- Heat Pump System
- High Speed Internet
- Cable TV Available
Community Details
- No Home Owners Association
- Tillicum Subdivision
Listing and Financial Details
- Assessor Parcel Number 2200002412
Map
Home Values in the Area
Average Home Value in this Area
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 | $9,628 | $993,600 | $212,800 | $780,800 |
| 2024 | $9,628 | $919,900 | $199,500 | $720,400 |
| 2023 | $9,628 | $892,000 | $196,200 | $695,800 |
| 2022 | $8,907 | $896,200 | $196,200 | $700,000 |
| 2021 | $8,445 | $648,400 | $119,100 | $529,300 |
| 2019 | $6,235 | $576,500 | $85,800 | $490,700 |
| 2018 | $6,479 | $519,200 | $78,800 | $440,400 |
| 2017 | $6,291 | $437,600 | $57,000 | $380,600 |
| 2016 | $2,799 | $379,900 | $45,400 | $334,500 |
| 2014 | $2,524 | $318,200 | $37,200 | $281,000 |
| 2013 | $2,524 | $286,800 | $37,200 | $249,600 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 08/31/2025 08/31/25 | Price Changed | $1,050,000 | -8.7% | $231 / Sq Ft |
| 06/14/2025 06/14/25 | For Sale | $1,150,000 | 0.0% | $253 / Sq Ft |
| 05/05/2025 05/05/25 | Pending | -- | -- | -- |
| 03/31/2025 03/31/25 | For Sale | $1,150,000 | +115.0% | $253 / Sq Ft |
| 03/28/2019 03/28/19 | Sold | $535,000 | -2.7% | $118 / Sq Ft |
| 02/07/2019 02/07/19 | Pending | -- | -- | -- |
| 01/06/2019 01/06/19 | For Sale | $550,000 | 0.0% | $121 / Sq Ft |
| 12/24/2018 12/24/18 | Pending | -- | -- | -- |
| 11/15/2018 11/15/18 | For Sale | $550,000 | -- | $121 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Quit Claim Deed | -- | None Listed On Document | |
| Quit Claim Deed | -- | None Available | |
| Quit Claim Deed | -- | Equity Title Of Wa Llc | |
| Quit Claim Deed | -- | None Available | |
| Interfamily Deed Transfer | -- | Wfg Natl Ttl Co Of Wa Llc | |
| Warranty Deed | $535,000 | Wfg National Title Co |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $258,813 | Credit Line Revolving | |
| Previous Owner | $392,000 | New Conventional | |
| Previous Owner | $401,250 | New Conventional | |
| Previous Owner | $10,425 | Unknown | |
| Previous Owner | $242,000 | Credit Line Revolving |
Source: Northwest Multiple Listing Service (NWMLS)
MLS Number: 2352914
APN: 220000-2412
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Based on information submitted to the MLS GRID
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