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Stacy Lopes

stacy@simplihom.com +1(509) 901-2643

Listed by:Blake Investment Advisors • Gabe Blake • Josh Blake

$ 1,650,000

Est. payment -/mo

Save

Pending

12413 Bridgeport WAY SW Lakewood, WA 98499

22 Beds

15 Baths

2.62 Acres Lot

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Pending

Purchase Type For Sale

Subdivision Lakewood

MLS Listing ID 2525348

Style 56 - 10+ Units

Bedrooms 22

Year Built 1972

Annual Tax Amount $26,305

Lot Size 2.620 Acres

Property Sub-Type Multi Family

Property 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.

Location

State WA

County Pierce

Area 36 - Lakewood

Interior

Flooring See Remarks

Fireplace false

Exterior

Exterior Feature See Remarks

View Y/N No

Roof Type Composition

Building

Sewer Sewer Connected

New Construction No

Schools

School District Lakewood

Others

Senior Community No

Acceptable Financing Conventional

Listing Terms Conventional

"Three Trees" icon indicates a listing provided courtesy of NWMLS.

Nearby Locations

ABOUT US

Our Story

From Humble Beginnings to a Nationwide Movement

At simpliHŌM, we know firsthand that real estate is about more than houses — it’s about people, families, and the places they call home. Our journey didn’t begin in a boardroom or with limitless resources. It began with adversity.

Our Founder & CEO, Sean Miku, once found himself on food stamps, without a home, and forced to pick the lock on a water meter just to give his baby girl her first bath. Out of those struggles came a relentless determination to build something better — not only for his own family, but for every agent and client who deserved a simpler, more supportive way to experience real estate.

With just $30,000 and four agents, simpliHŌM was launched in 2018. From those humble beginnings, we’ve grown into a thriving, people-first brokerage spanning multiple states and serving thousands of agents nationwide — all driven by the same mission: Making Real Estate Simple.

Our Mission: Making Real Estate Simple

We believe real estate should be transparent, efficient, and personal. At simpliHŌM, relationships are at the heart of every transaction. Our mission is to remove the unnecessary complexity and stress, creating a seamless experience for clients and empowering agents to thrive.

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+1(509) 901-2643

stacy@simplihom.com