$1,025,000
15107 Boat Street SW, Lakewood, WA 98489
3,080 Sq Ft
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15107 Boat Street SW, Lakewood, WA 98489 15107 Boat Street SW, Lakewood, WA 98489 15107 Boat Street SW, Lakewood, WA 98489 15107 Boat Street SW, Lakewood, WA 98489 15107 Boat Street SW, Lakewood, WA 98489 15107 Boat Street SW, Lakewood, WA 98489 15107 Boat Street SW, Lakewood, WA 98489 15107 Boat Street SW, Lakewood, WA 98489 15107 Boat Street SW, Lakewood, WA 98489 15107 Boat Street SW, Lakewood, WA 98489 15107 Boat Street SW, Lakewood, WA 98489 15107 Boat Street SW, Lakewood, WA 98489 15107 Boat Street SW, Lakewood, WA 98489 15107 Boat Street SW, Lakewood, WA 98489
15107 Boat Street SW, Lakewood, WA 98489 15107 Boat Street SW, Lakewood, WA 98489 15107 Boat Street SW, Lakewood, WA 98489 15107 Boat Street SW, Lakewood, WA 98489 15107 Boat Street SW, Lakewood, WA 98489 15107 Boat Street SW, Lakewood, WA 98489 15107 Boat Street SW, Lakewood, WA 98489 15107 Boat Street SW, Lakewood, WA 98489 15107 Boat Street SW, Lakewood, WA 98489 15107 Boat Street SW, Lakewood, WA 98489 15107 Boat Street SW, Lakewood, WA 98489 15107 Boat Street SW, Lakewood, WA 98489 15107 Boat Street SW, Lakewood, WA 98489 15107 Boat Street SW, Lakewood, WA 98489

MLS #2483087 / Listing provided by NWMLS & Westlake Associates, Inc..

$1,025,000

15107 Boat Street SW
Lakewood, WA 98489

Active 1 day ago
3,080
Sq Ft
$333
Per Sq Ft
1959
Year Built

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 control a million dollar asset with an estimated $250,000 equity investment. Through disciplined financing, a modest capital contribution can translate into ownership of an eight-unit income-producing property supported by cash flow, principal paydown, and long-term appreciation. New ownership will acquire the property at a low basis, priced at approximately $128,125 per unit, with solid occupancy and a 6.54% cap rate on current rents and expenses, well below institutional-scale multifamily pricing across the Puget Sound region.

Disclaimer: The information contained in this listing has not been verified by Hawkins-Poe Real Estate Services and should be verified by the buyer.

Interior Features

Bedrooms

  • Upper Level Bedrooms: 0

Fireplaces

  • Total Fireplaces: 0

Heating & Cooling

  • Heating: Yes
  • Cooling: No
Exterior Features

Parking

  • Garage Spaces: 0
  • Total Uncovered Parking Spaces: 12

Structure

  • Roof: Flat
  • Exterior Features: Wood
  • Foundation: Poured Concrete

Lot Details

  • Lot Features: Dead End Street, Paved
  • Acres: 0.287
  • Foundation: Poured Concrete
Area Features

Schools

  • High School District: Lakewood

Lot Details

  • Lot Features: Dead End Street, Paved
  • Acres: 0.287
  • Foundation: Poured Concrete
Utilities

Power

  • Energy Source: Electric

Water, Sewer, and Garbage

  • Sewer: Sewer Connected
  • Water, Sewer, and Garbage: 12510
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Stephanie Orgill

Stephanie Orgill
Broker | REALTOR®

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