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About the Listing 5939 - 134752,144010
DAUD APARTMENTS: ~25-UNIT - NEARLY SHOVEL-READY REDEVELOPMENT Unrivaled "Ready-for-Submittal" opportunity in the high-growth 98499 core. This de-risked asset includes over $100k in pre-paid professional engineering, mechanical design, and architectural plans—bypassing 6-8 months of planning and carry costs. VALUE & EQUITY: Verified 2021 Appraisal valued the raw land at $935,000. Current pricing offers immediate "paper equity" before accounting for significant soft-cost additions. THE DRAINAGE DIVIDEND: Superior soil profile with a verified 20.0 in/hr design infiltration rate. This "Class A" soil allows for low-cost drywell systems, potentially saving $250k+ vs neighboring sites requiring concrete detention vaults. DEVELOPMENT SPECS: * High-Density MF-3 Zoning (54 Units/Acre). Fully engineered for a 25-unit project. Includes high-efficiency Mitsubishi VRF HVAC design (exceeds 2021 Energy Code). 12-Year MFTE Eligibility confirmed by the City. INCOME & EXIT: Two existing occupied residences provide $3,700/mo gross carry income during the permitting phase. Proven market absorption: nearby builds achieved 23 units/mo lease-up. Dual-exit potential: design supports future condo conversion for maximum ROI. Located 0.25 miles from I-5 and 1.0 mile to JBLM (McChord Field Gate). Full Data Room available upon request. LAs are friendly and helpful! Give us a call.
Listing Highlights
Status
Active
Days on Site
61
Property Type
Multi-Family
MLS ®
2463229
Year Built
1945
Total Square Footage
1,446
Lot/Acreage
0.45
Interior Details
- Bedrooms: 3
- Bathrooms: 2 Full
- Appliances:
- Air Cond:
- Heating:
- Fireplaces: 0
- Floor: Vinyl Plank,Carpet
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Lakewood Water District
Exterior Details
- Lot Description: Dead End Street,Value In Land,Deck,Fenced-Fully,Zoning: Multi-Family,Residential
- Garage Capacity: 2 car
- Parking Spaces: 4
- Lot Dimensions: 19,600
- Zoning: Multi-Family,Residential
- Roof: Composition
- Others: Metal/Vinyl,Good
- Sewer: City of Lakewood Sewer Utility
Financial Details
- Tax Amount: $5,356
- Taxes w/Assessments: N/A
- Tax/Property ID: 0219123092
- Tax Year: 2025
Payment Calculator
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Questions About..
12524 Addison St SW Lakewood, WA 98499
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