$715,000

6 Beds 3 Baths 2,496 SQFT 0.15 Acres
Type: Multi-Family

12403 -12405 Edgewood Avenue SW
Lakewood, WA 98498

MLS#: 2591137
Presented by: RealTrust Properties and NWMLS

Property Description

 

This Lakewood duplex brings in $4800 per two units, and tenants pay utilities on top of rent. Both units were fully renovated in 2026. More than $125,000 went into bringing the duplex up to the City of Lakewood rental housing requirements. The work covered flooring, bathrooms, plumbing, electrical, furnaces, basement windows, appliances, painting, roof and gutter cleaning and other fixtures. Each units lives like a single family home, with its own attached one car garage for parking and storage and its own large fenced backyard. Fencing separates the two yards from each other and from the neighboring lots, so each household gets private outdoor space for play, pets or summer barbecues. Unit 12403 has 3 bedrooms, 1bath, a bright galley kitchen with eat-in dining, two family rooms and a wood-burning fireplace for cozy evenings. It rents for $2,500 per month plus utilities. Unit 12405 has 3bedrooms, 1.75 bathrooms, a bright galley kitchen with eat-in dining, two family rooms and a wood burning fireplace. It's leased at $2,300 per month plus utilities through May 2027.The property is minutes from American Lake and local parks. The major systems are already updated, so the next owner can focus on leasing instead of repairs!!!


 

Interior Features

Bedrooms

Bedrooms Upper0

Bathrooms

Baths Full Upper0
Baths Half Upper0
Baths Three Quarter Upper0

Other Interior Features

Air Conditioning Y/NYes
Fireplace Y/NNo
FlooringLaminate
Heating Y/NYes
Power Production TypeElectric, Natural Gas
Total Fireplaces0
Total Stories2

General

Building Area Units0 sqft
Cap Rate6.25
Carport Spaces2
Carport Y/NNo
CityLakewood
CoolingForced Air
CountyPierce
DirectionsGPS - Friendly
Electric Expense2268
Elementary SchoolBuyer To Verify
Fuel Expense540
Garage Spaces2
HOANo
HOA Fee$0
HeatingForced Air
High SchoolBuyer To Verify
High School DistrictClover Park
Insurance Expense952
Leasable Area1,248 sqft
Listing TermsConventional, FHA, USDA Loan, VA Loan
Living Area0 sqft
Lot Size Square Feet6,600 sqft
Lot Size UnitsSquare Feet
MLS Area38 - Lakewood
Middle/Junior High SchoolBuyer To Verify
NWM_ShowMapLinkY
Net Operating Income44702
New ConstructionNo
Number Of Units Total2
PossessionClosing, Negotiable, Subject To Tenant Rights
Property ConditionGood
Property Style52 - Duplex
Property SubtypeMulti Family
Property TypeResidential Income
Public RemarksThis Lakewood duplex brings in $4800 per two units, and tenants pay utilities on top of rent. Both units were fully renovated in 2026. More than $125, 000 went into bringing the duplex up to the City
RoofComposition
Security FeaturesFully Fenced
Senior Community Y/NNo
SewerSewer Connected
Special Listing ConditionsNone
Standard StatusActive
StatusActive
Structure TypeDuplex
Subdivision NameLakewood
Tax Annual Amount$475
Tax Year2026
Units Below Gradefalse
Units In Building Total2
ViewTerritorial
Water Sewer Garbage2359
Year Built1957

Exterior

Building Area Total2,496 sqft
Covered Spaces2
Exterior AmenitiesWood, Wood Products
Foundation DetailsSee Remarks
Irrigation Water Rights Y/NNo
Lot FeaturesCul-De-Sac, Paved
Lot Size Acres0.1515
Parking Uncovered Total2
Site FeaturesDeck, Fenced-Fully, Gas Available, High Speed Internet, Patio
Total Parking4
Water SourceCommunity
Waterfront Y/NNo

Additional Details

Price History

Schools 

High School Buyer To Verify High School
Elementary School Buyer To Verify Elementary School
Middle School Buyer To Verify Middle School

  

Similar Properties

$715,000

6 Beds 3 Baths 2,496 SQFT 0.15 Acres
Type: Multi-Family

12403 -12405 Edgewood Avenue SW
Lakewood, WA 98498

MLS#: 2591137