15107 Boat Street Sw, Lakewood, WA 98489

Lakewood
Local realty services provided by:Better Homes and Gardens Real Estate Pacific Commons
Listed by: reid jones
Office: westlake associates, inc.
MLS#:2483087
Source:NWMLS
15107 Boat Street Sw,Lakewood, WA 98489
$990,000
  • - Beds
  • - Baths
  • 3,080 sq. ft.
  • Multi-family
  • Active

Price summary

  • Price:$990,000
  • Price per sq. ft.:$321.43

About this home

Gross Monthly Rents total to $9,330 per month. New ownership will acquire the property at a low basis, priced at approximately $123,750 per unit, with solid occupancy and a 6.77% cap rate on current rents and expenses, well below institutional-scale multifamily pricing across the Puget Sound region. 15107 Boat Street SW is an eight-unit value-add opportunity located in a lakeside enclave in Lakewood, Washington. The property’s nautical identity stands apart from typical Lakewood offerings, supported by immediate proximity to the American Lake boat launch and surrounding waterfront amenities. Originally constructed in 1959, the asset consists of a 3,080 square-foot multifamily building situated on a 12,500 square-foot (0.29-acre) lot. Adjacent to the property, a new townhome community was recently developed on a similarly sized parcel, reinforcing long-term residential demand and land value in the immediate area. The Boat Street 8 presents investors with the opportunity to...

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Home facts

  • Year built:1959
  • Listing ID #:2483087
  • Updated:April 14, 2026 at 12:22 AM

Rooms and interior

  • Flooring:Carpet, Vinyl Plank
  • Living area:3,080 sq. ft.

Structure and exterior

  • Roof:Flat Roof
  • Year built:1959
  • Building area:3,080 sq. ft.
  • Lot area:0.29 Acres
  • Lot Features:Dead-end Street, Paved
  • Construction Materials:Wood Exterior Finish
  • Exterior Features:Fenced-Partially, Patio

Utilities

  • Sewer:Sewer Connected

Finances and disclosures

  • Price:$990,000
  • Price per sq. ft.:$321.43
  • Tax amount:$6,572 (2026)

Parking

  • Total parking spaces:12
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