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Price Drop: $125K (09/15)
No HOA
Street View
Listed by: Gabe Blake (206) 618-2207 , Josh Blake (206) 619-3719 | Blake Investment Advisors (206) 618-2207
$1,650,000
Monthly Est:$8,213
22 Beds
15 Baths
--sqft
12413 Bridgeport Way SW, Lakewood, WA 98499
$1,650,000
$8,213/moEst:
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Multi Family
Built in 1972
$-- HOA
2.62 acres lot
--/sqft
Description
MOTIVATED SELLER! $117K PER UNIT & 6.93% CAP RATE | Gen Villas is a cash-flowing value-add 14-unit apartment community situated on 2.62 acres in a serene creek-side setting surrounded by lush greenery in Lakewood, located less than 2 miles from Joint Base Lewis-McChord, Pierce County’s largest employer. The property consists of 14 units across two separate buildings: a 6-unit building located at the front of the property, originally constructed in 1972, and an 8-unit building situated at the rear of the property, built in 1955. The unit mix includes one 4-bedroom / 3-bathroom unit, one 3-bedroom / 1-bathroom unit, three 2-bedroom / 1-bathroom units, and nine 1-bedroom / 1-bathroom apartments. Seven units at the property have been updated to a similar finish level as photographed in Unit 5, featuring luxury vinyl plank flooring, fresh interior paint, and newer kitchen appliances and cabinetry. The opportunity exists for new ownership to complete cosmetic renovations to the remaining 7 units and increase rents approximately 17% to market. A Additionally, Units 1, 2, and 4 include in-unit washer and dryer stacks, while the remaining units benefit from access to an on-site community laundry facility. Residents benefit from an ample supply of off-street parking, including 6 carports and 3 surface parking stalls serving the front building, as well as an additional 16 surface parking stalls designated for the rear building.
- Houzeo last checked: 9 hours ago
- Listing updated: September 25, 2026 at 2:31 am
- Source: Northwest Multiple Listing Service | MLS#: NWM2525348
Property Details
Status
Pending
Type
Multi Family
No. of Stories
3
County
City
Neighborhood
--
Year Built
1972
HOA Fees
-
Finished Area
- sqft
Lot Size
2.62 acres lot
Basement Area
- sqft
MLS Name
Northwest Multiple Listing Service
MLS Number
NWM2525348
MLS Status
Pending
Days on Market
128
Cumulative Days on Market
96
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Location
Facts & Features
Rooms
Bedrooms & bathrooms
Bedrooms: 22
Bathrooms: 15
Interior
Flooring
See Remarks
Exterior Features
See Remarks
Sewer
Sewer Connected
Heating
See Remarks
Cooling
None
Construction
Year Built
Year Built: 1972
Home type
Multi Family
Roof
Composition
Property Condition
Good
Construction Materials
See Remarks
Other Features
Subdivision Name
Lakewood
Price History
| Date | Event | Price |
|---|---|---|
09/15/2026 Source: | Pending | $1,650,000 $0/sqft |
08/03/2026 Source: | Listed for Sale | $1,650,000 -7.04% $0/sqft |
08/03/2026 Source: | Price Decreased | $1,775,000 -6.58% $0/sqft |
07/06/2026 Source: | Pending | $1,900,000 $0/sqft |
05/26/2026 Source: | Listed for Sale | $1,900,000 $0/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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