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Listed by: Matt Harber (253) 229-1329 | Keller Williams Rty Tacoma (253) 460-8640
$2,100,000
Monthly Est:$10,452
18 Beds
12 Baths
6,240sqft
11002 Idlewild Rd SW, Lakewood, WA 98498
$2,100,000
$10,452/moEst:
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Duplex
Built in 1955
$-- HOA
1.33 acres lot
$337/sq.ft
Description
Exceptional investment opportunity featuring 12 rental units across 6 duplex buildings, offering immediate income with significant upside potential. Centrally located with convenient access to shopping, services, and major transportation routes, this property is well-positioned to attract and retain long-term tenants. Each duplex consists of one 2-bedroom, 1-bath unit and one 1-bedroom, 1-bath unit, creating a desirable unit mix that appeals to a broad tenant base. Current rents are below market, presenting a compelling opportunity for a savvy investor to increase cash flow and improve overall returns. Several units have benefited from interior renovations, while portions of the exterior have been upgraded with new siding. Durable metal roofing, selective exterior improvements, and a straightforward design contribute to a relatively low-maintenance investment. An on-site laundry facility provides additional income potential for residents. Situated on a large parcel, the property appears to offer future development opportunities that could substantially increase income and overall value (buyer to verify all development potential and feasibility). Whether you're looking to expand an existing portfolio or acquire a value-add asset with multiple paths to increased returns, this property deserves serious consideration. Opportunities combining current income, rental upside, low-maintenance ownership, and potential future development are increasingly difficult to find.
- Houzeo last checked: 9 hours ago
- Listing updated: September 21, 2026 at 4:31 pm
- Source: Northwest Multiple Listing Service | MLS#: NWM2535832
Property Details
Status
Active
Type
Multi Family
No. of Stories
1
County
City
Neighborhood
--
Year Built
1955
HOA Fees
-
Finished Area
6,240 sqft
Lot Size
1.33 acres lot
Basement Area
- sqft
MLS Name
Northwest Multiple Listing Service
MLS Number
NWM2535832
MLS Status
Active
Days on Market
119
Cumulative Days on Market
119
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Location
Facts & Features
Rooms
Bedrooms & bathrooms
Bedrooms: 18
Bathrooms: 12
Interior
Heating
Baseboard, Wall Furnace
Cooling
None
Sewer
Sewer Connected
Flooring
Laminate, Vinyl, Vinyl Plank
Exterior Features
Cement/concrete, Stucco, Wood
Construction
Year Built
Year Built: 1955
Home type
Duplex
Roof
Metal
Property Condition
Average
Construction Materials
Cement, Stucco, Wood
Utilities & Energy
Water Source
Public
Security Features
Partially Fenced
Other Features
Lot Features
Curbs, Dead End Street, Paved
Subdivision Name
Lakewood
Price History
| Date | Event | Price |
|---|---|---|
06/06/2026 Source: | Listed for Sale | $2,100,000 $337/sqft |
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Based on information submitted to the MLS GRID by Northwest Multiple Listing Service as of Oct 01, 2026, 02:47PM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
IDX information is provided exclusively for consumers’ personal, noncommercial use; it may not be used for any purpose other than to identify prospective properties that consumers may be interested in purchasing, that the data is deemed reliable, but is not guaranteed by MLS GRID, and that the use of the MLS GRID Data may be subject to an end-user license agreement prescribed by the Member Participant’s applicable MLS, if any and as amended from time to time. © 2025 Northwest Multiple Listing Service. All Rights Reserved.
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