$725,000
22416 40th Ave E, Spanaway, WA 98387
Don't miss this very well maintained triplex with a Brand New Roof! These townhouse style units are very desirable with updated kitchens and great living space! Two very generous sized bedrooms upstairs and full bath. Tenants love the covered front porch, private back porch and fully fenced back yard. There is an abundance of parking too! The financials are running strong at a 6.78% CAP and
Andrew Kramer Redfin
$3,200,000
116 173rd St S, Spanaway, WA 98387
Impeccably Maintained 13-Unit Complex Offering Strong Returns & Immediate Cash Flow Opportunities. Benefit from fresh exterior paint, new decking & updated septic risers. Recent updates for all units include electrical panels & water tanks. Several units have been upgraded with modern finishes: cabinets, countertops, appliances, trim & flooring. Additional features include, coin-operated laundry
Matthew 'Cooper' Carlson John L. Scott, Inc.
$659,000
16518 16th Avenue Ct E, Spanaway, WA 98387
Beautifully remodeled, single story duplex on a large 26,136 sg ft lot. Sitting on a quiet dead end street surrounded by well maintained homes. (may be subdividable, buyer must verify) Both units have beautiful brick FP. S.S. appliances, quartz counters, New waterproof laminate flooring. 2 spacious bedrooms with 1.25 baths. Vaulted ceilings and a open concept. It's the perfect set up for owner
Tom Byrne Keller Williams Rty Tacoma
$795,999
20106 2nd Ave E, Spanaway, WA 98387
Investor Value-Motivated Seller. Mobile home park available immediately. Seller just took over after a long family situation and wants it sold. Key points: Tenants have not paid rent in over a year. Tenants want to stay ( too costly to move their homes). No leases currently in place. Full freedom to restructure. Property sold As-Is, Where-Is. Big upside for experienced investors. 5 mobile home
Sherrie Sells RE/MAX Realty South
$685,000
17315 10th Ave S, Spanaway, WA 98387
Enjoy steady cash flow, low maintenance, and a prime Spanaway location with this terrific investment opportunity just a short walk from Spanaway Lake and tucked away on a quiet residential street. Each unit has 1,299 sq ft with 3 bedrooms and 1.5 baths, with spacious, functional layouts. The fully fenced lot provides privacy and security, along with space for RV parking -- a sought-after amenity
Mike Larson COMPASS
Spanaway, WA, is a small city located 10 miles from Tacoma, nestled around the 250-acre Spanaway Lake. With a population of just over 34,000, it offers a small-town feel and is adjacent to Joint Base Lewis-McChord (JBLM), contributing to a strong military presence. Many residents work in healthcare at MultiCare hospitals and clinics. Spanaway shares a border with Parkland, providing access to walking trails through surrounding woods. The housing market in Spanaway is more affordable compared to Tacoma, with lakefront homes featuring private boat docks and a variety of styles including ranch-style, Craftsman-inspired, and split-level homes. Spanaway Park is the main public access to the lake, offering paddle boat rentals and a fishing dock, though the dock is under construction until early 2025. Nearby, Sprinker Recreation Center boasts an NHL regulation skating rink, skate park, and sports fields, while Bresemann Forest offers walking trails through a 70-acre wooded area. Dining options along Route 7 include diverse restaurants, particularly Asian cuisine, and national retailers. For more extensive shopping, residents visit Tacoma Mall, the largest shopping center in Pierce County. The Bethel School District serves local students, with virtual learning available through Bethel Virtual Academy. Higher education institutions like Pacific Lutheran University and Clover Park Technical College are within a short drive. Spanaway's connectivity includes State Route 512 and Route 7, leading to Tacoma and Seattle-Tacoma International Airport, 33 miles away. Law enforcement by the Pierce County Sheriff’s Department reports lower crime rates compared to the county average. However, residents experience noise from JBLM's artillery training and military flights.
On average, homes in Spanaway, WA sell after 45 days on the market compared to the national average of 53 days. The median sale price for homes in Spanaway, WA over the last 12 months is $510,000, up 2% from the median home sale price over the previous 12 months.
In Spanaway, there are currently 5 multi-family homes for sale, providing an appealing investment opportunity for buyers. With multi-family homes priced between $659,000 to $3,200,000, there's a range to accomodate every budget. As of December, 2025 the median home price in Spanaway is $523,492, while the average sale price is $529,989, offering insights into the local housing market. On average, multi-family homes spend 45 days listed before being sold. Multi-family homes include a variety of property types, from duplexes, triplexes, and fourplexes, to apartment complexes, all within a single building divided to accommodate multiple families living separately. These multi-family properties for sale offer investors the chance to generate rental income. Whether you're considering a duplex for a beginner investment or an apartment complex for a more substantial venture, there are investment properties available to meet your requirements. Explore the range of multi-family homes for sale in Spanaway, WA.
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