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206-778-5499
ΓEA⅃ Broker LLC
12403 -12405 Edgewood Avenue SW, Lakewood, WA 98498
- $699,000
- 2,496
- SqFt
Listing Broker: RealTrust Properties; Uma D Chand; 206-920-8611; chanduc@live.com
- List Price
- $699,000
- Status
- ACTIVE
- MLS#
- 2591137
- Style
- 52 - Duplex
- Building Condition
- Good
- Finished SqFt
- 2,496
- Area Total SqFt
- 2496
- Annual Tax Ammount
- 475
- Lot Size (sq ft)
- 6,600
- Sewer
- Sewer Connected
Property Description
Seller Credit 10k !!! Live in one, rent the other, or keep both as rentals. This updated Lakewood Duplex offers two side-by side homes. Each has its own attached 1 car garage and its own private, fully fenced backyard. Both units were renovated in 2026, with more than 125k invested to meet City of Lakewood rental housing standards. The work includes new furnace, updated plumbing and electrical, remodeled bathrooms, new floorings and appliances. It also covers new basement windows, a new , fresh interior and exterior paint, smoke and CO detectors, and cleaned roof gutters. The City of Lakewood completed building mechanical, electrical and rental inspections in 2026. Unit 12403: 2 bedrooms plus a lower- level bonus room, 1 bath, a bright galley kitchen with eat -in-dining, two family a wood burning fireplace. Rents for $2,500/month. Unit 12405: 2 bedrooms plus a lower-level bonus room, 1.75 baths, a galley kitchen with eat-in-dining, two family rooms and a wood burning fireplace. Leased at $2,300/mo. through May 2027. Tenants pay utilities. Owner-occupants can use the second unit's rent to help offset the mortgage. The lot is 6600sq.ft, minutes from American Lake, local parks. The property is tenant-occupied, so buyers should verify showing time with the listing broker. Please do not disturb tenants.
Additional Information
- Community
- Lakewood
- Net Operating Income
- $44,702
- Gross Adjusted Income
- $55,872
- Gross Scheduled Income
- $63,300
- Total Monthly Income
- $2,300
- Insurance Expenses
- $952
- Water/Sewer/Garbage Expenses
- $2,359
- Gross Rent Multiplier
- 12.41
- Total Expenses
- $9,094
- Cap Rate
- 6.25
- Vacancy Rate
- 3
- Total Number of Units
- 2
- Unit Name
- 12403 -12405
- Potential Terms
- Conventional, FHA, USDA Loan, VA Loan
- Year Built
- 1957
- View
- Territorial
- Roof
- Composition
- Site Features
- Deck, Fenced-Fully, Gas Available, High Speed Internet, Patio
- Electric Expenses
- 2268
- Other Expenses
- 2500
- Energy Source
- Electric, Natural Gas
- School District
- Clover Park
- Elementary School
- Buyer To Verify
- Middle School
- Buyer To Verify
- High School
- Buyer To Verify
- Total Monthly Income
- $2,300
- Gross Scheduled Income
- $63,300
- Vacancy Rate
- 3
- Gross Adjusted Income
- $55,872
- Tax Year
- 2026
- Insurance Expense
- $952
- W/S/G Expenses
- $2,359
- Total Expenses
- $9,094
- Net Operating Income
- $44,702
- Gross Rent Multiplier
- 12.41
- Cap Rate
- 6.25
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.