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About the Listing 7019 - 123916
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.
Listing Highlights
Status
Active
Days on Site
2
Property Type
Multi-Family
MLS ®
2483087
Year Built
1959
Total Square Footage
3,200
Lot/Acreage
0.29
Interior Details
- Bedrooms: 0
- Bathrooms: 8 Full
- Appliances:
- Air Cond:
- Heating:
- Fireplaces: 0
- Floor: Vinyl Plank,Carpet
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water:
Exterior Details
- Lot Description: Dead End Street,Paved,Fenced-Partially,Patio,Zoning: Multi-Family
- Garage Capacity: N/A
- Zoning: Multi-Family
- Roof: Flat
- Others: Wood
- Sewer: Sewer Connected
Financial Details
- Tax Amount: $6,572
- Taxes w/Assessments: N/A
- Tax/Property ID: 0219212117
- Tax Year: 2026
Payment Calculator
Monthly Payment
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Questions About..
15107 Boat St SW Lakewood, WA 98489
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