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HDN Apartments 4902 111th St SW 8 Unit Apartment Building $1,650,000 ($206,250/Unit) 5.19% Cap Rate Lakewood, WA 98499
Executive Summary
Location, Location! Investors, Turnkey opportunity to purchase this great income-producing 8-Unit multi-family property; 4,584SF U-Shape Courtyard building, 19,200SF Parcel with 2 two-bedroom Apartments & 6 one-bedroom Apartments, Zone C1, located in the heart of Lakewood, Across from St. Clare Hospital. Well maintained, 1-story Brick Building, private courtyard, large playground area with fully fence with security gates, All the units are updated with tile, laminate, hardwood floor, gated-garbage enclosure. Current rents are below market. With highly Rent demand, it has plenty of room to increase income, plus coin-operated laundry machines. This Multi-Fam Building is on Lakewood Commercial Core, surrounded by businesses, shopping centers, residential developments; minutes to I5, JBLM, Military Bases, Towne Center.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$114,264
|
$25.21
|
| Other Income |
$980
|
$0.22
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$115,244
|
$25.43
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$28,667
|
$6.33
|
| Net Operating Income |
$86,577
|
$19.10
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $114,264 |
| Annual Per SF | $25.21 |
| Other Income | |
|---|---|
| Annual | $980 |
| Annual Per SF | $0.22 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $115,244 |
| Annual Per SF | $25.43 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $28,667 |
| Annual Per SF | $6.33 |
| Net Operating Income | |
|---|---|
| Annual | $86,577 |
| Annual Per SF | $19.10 |
Property Facts
| Price | $1,650,000 | Apartment Style | Low-Rise |
| Price Per Unit | $206,250 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.48 AC |
| Cap Rate | 5.19% | Building Size | 4,584 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| Gross Rent Multiplier | 14.44 | No. Stories | 1 |
| No. Units | 8 | Year Built/Renovated | 1960/1990 |
| Property Type | Multifamily | Parking Ratio | 2.18/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | C1, Lakewood - Permits neighborhood commercial activities and small-scale freestanding businesses. | ||
| Price | $1,650,000 |
| Price Per Unit | $206,250 |
| Sale Type | Investment |
| Cap Rate | 5.19% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 14.44 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.48 AC |
| Building Size | 4,584 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1960/1990 |
| Parking Ratio | 2.18/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | C1, Lakewood - Permits neighborhood commercial activities and small-scale freestanding businesses. |
Amenities
Unit Amenities
- Dishwasher
- Tile Floors
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Range
- Yard
- Lawn
- Smoke Free
Site Amenities
- Courtyard
- Fenced Lot
- Playground
- Gated
- Laundry Service
- Renters Insurance Program
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | 520 |
| 2+1 | 2 | - | 700 |
1 1
Very walkable
80/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 508000-0082 | Improvements Assessment | $379,700 |
| Land Assessment | $467,200 | Total Assessment | $846,900 |
Property Taxes
Parcel Number
508000-0082
Land Assessment
$467,200
Improvements Assessment
$379,700
Total Assessment
$846,900
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HDN Apartments | 4902 111th St SW
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