USAWALakewoodTillicum15107 Boat St Sw
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$1,025,000

For Sale

9 days ago

15107 Boat St Sw, Lakewood, WA

MLS® 2483087

0 Bed

0 Bath

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  • Key Facts
  • Description
  • Map

Key Facts

Type Multi Family
Levels Residential Income
Size -
Garage No
Taxes $6,572
Days Active 9
Lot Size 0.287 acres
Approx. Age 1959
MLS® Number 2483087

Property Address: 15107 Boat St Sw, Lakewood, WA, 98498-1031

Average square foot calculated using Size range provided by listing agent.

Description

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.
MLS® Number2483087
Laundry Level
Central VacNo
FireplaceNo
Acreage0.287
Exterior
GarageNo
Approx. Age1959
Basement
Driveway
Garage Spaces0
Heat
A/C
Heating Fuel

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

Feb 20, 2026List Date
$1,025,000List Price
  • Commute

Commute

Starting Address
Destination Address
15107 Boat St Sw, Lakewood, WA

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