Pending

$3,400,000

16 Beds 10 Baths 4,233 SQFT 9.31 Acres
Type: Pending

1000 Creso Road S
Spanaway, WA 98387

MLS#: 2553466
Presented by: COMPASS; Greg Garner; 253-279-8000; greg.garner@compass.com

Property Description

 

This stunning lakefront property is unlike anything you’ve ever seen! Sited on 700 feet of waterfront and 9.31 acres, this special property is the perfect combination of lakefront luxury and income generating rentals. The hallmark of the property is the lakefront lodge. At more than 4,200 square feet, clad in stone, stucco, slate, and copper, this beautiful home features a main level primary suite, an expansive kitchen, a two-story great room, and an attached ADU/MIL above the three-car garage. Open the three sets of French doors in the great room for a seamless indoor-outdoor flow onto the covered outdoor patio. Enjoy beautiful lake views from nearly every room, especially the elevated ADU which offers two private external entrances and interior access from the main residence. The South-facing shoreline features a picturesque Mount Rainier view. The dock easily accommodates a float plane or large vessel, with an extra motorized float perfect for cruising the lake with friends. Now, the rentals. This single-parcel property includes 7 rental units: two 1-bed duplexes, a 2-bed duplex, and an additional single-family home. These additional residences have all received consistent updates throughout the years and benefits from long-term tenants who would love to stay. Photos of the SFR and one of the duplex units are included in this listing. Gross annual income exceeds $100,000 per year and a rent roll is available upon request. This one-of-a-kind property is as rare as it comes.


 

Interior Features

Bedrooms

Bedrooms Possible13
Bedrooms Upper0

Bathrooms

Baths Full Upper0
Baths Half Upper0
Baths Three Quarter Upper0

Other Interior Features

Air Conditioning Y/NYes
Fireplace Y/NNo
FlooringHardwood, Slate, Vinyl, Vinyl Plank, Carpet
Heating Y/NYes
Power Production TypeElectric, Wood
Total Fireplaces0
Total Stories2

General

Building Area Units0 sqft
Cap Rate3.27
Carport Spaces6
Carport Y/NNo
CitySpanaway
CoolingHeat Pump
CountyPierce
DirectionsFrom Hwy 512 and Steele St continue south transitioning into Spanaway Loop Rd. Follow Spanaway Loop Rd approx 5 miles to Creso Road. Left on Creso Rd. 1000 Creso Rd is through the gates at the end.
Electric Expense0
Elementary SchoolSpanaway Elem
Fuel Expense0
Garage Spaces4
HOANo
HOA Fee$0
HeatingForced Air, Heat Pump, High Efficiency (Unspecified)
High SchoolSpanaway Lake High
High School DistrictBethel
Insurance Expense6000
Leasable Area8,655 sqft
Listing TermsCash, Conventional
Living Area0 sqft
Lot Size Square Feet405,544 sqft
Lot Size UnitsSquare Feet
MLS Area99 - Spanaway
Middle/Junior High SchoolSpanaway Jnr High
NWM_ShowMapLinkY
Net Operating Income111260
New ConstructionNo
Number Of Units Total5
PossessionClosing
Possible UseResidential
Property ConditionVery Good
Property Style55 - 5-9 Units
Property SubtypeMulti Family
Property TypeResidential Income
Public RemarksThis stunning lakefront property is unlike anything youve ever seen! Sited on 700 feet of waterfront and 9.31 acres, this special property is the perfect combination of lakefront luxury and income gen
RoofTile
Security FeaturesSecurity Gate
Senior Community Y/NNo
SewerSeptic Tank
Special Listing ConditionsNone
Standard StatusPending
StatusPending Feasibility
Structure TypeMulti Family
Subdivision NameSpanaway Lake
Tax Annual Amount$32,136
Tax Year2026
Units Below Gradefalse
Units In Building Total8
ViewLake, Mountains
Virtual TourClick here
Water CompanySpanaway Water
Water Sewer Garbage9096
Waterfront FeaturesLake, No Bank
Year Built2001
Zoning DescriptionResidential

Exterior

Building Area Total4,233 sqft
Covered Spaces10
Exterior AmenitiesStone, Stucco, Wood
Foundation DetailsPoured Concrete
Irrigation Water Rights Y/NNo
Lot DimensionsIrregular
Lot FeaturesCul-De-Sac, Paved, Secluded
Lot Size Acres9.31
Parking FeaturesRV Parking
Parking Uncovered Total20
Site FeaturesDock, Electric Car Charging, Gated Entry, High Speed Internet, Outbuildings, Outdoor Fireplace, Patio, RV Parking, Sprinkler System
Total Parking30
Water SourcePublic
Waterfront Y/NYes

Additional Details

Price History

Schools 

High School Spanaway Lake High
Middle School Spanaway Jnr High
Elementary School Spanaway Elem

  

Similar Properties

$3,400,000

16 Beds 10 Baths 4,233 SQFT 9.31 Acres
Type: Pending

1000 Creso Road S
Spanaway, WA 98387

MLS#: 2553466