12413 Bridgeport Way SW, Lakewood, WA 98499
- $1,900,000
Listing courtesy of Blake Investment Advisors.
- List Price
- $1,900,000
- Status
- PENDING FEASIBILITY
- MLS#
- 2525348
- Days on Market
- 61
- Style
- 56 - 10+ Units
- Building Condition
- Good
- Annual Tax Ammount
- 26305
- Lot Size (sq ft)
- 114,127
- Sewer
- Sewer Connected
Property Description
Gen Villas is a cash-flowing value-add 14-unit apartment community situated on 2.62 acres in a serene creek-side setting surrounded by lush greenery in Lakewood, located less than 2 miles from Joint Base Lewis-McChord, Pierce County’s largest employer. The property consists of 14 units across two separate buildings: a 6-unit building located at the front of the property, originally constructed in 1972, and an 8-unit building situated at the rear of the property, built in 1955. The unit mix includes one 4-bedroom / 3-bathroom unit, one 3-bedroom / 1-bathroom unit, three 2-bedroom / 1-bathroom units, and nine 1-bedroom / 1-bathroom apartments. Seven units at the property have been updated to a similar finish level as photographed in Unit 5, featuring luxury vinyl plank flooring, fresh interior paint, and newer kitchen appliances and cabinetry. The opportunity exists for new ownership to complete cosmetic renovations to the remaining 7 units and increase rents approximately 17% to market. A Additionally, Units 1, 2, and 4 include in-unit washer and dryer stacks, while the remaining units benefit from access to an on-site community laundry facility. Residents benefit from an ample supply of off-street parking, including 6 carports and 3 surface parking stalls serving the front building, as well as an additional 16 surface parking stalls designated for the rear building.
/u.realgeeks.media/pnwcasas/PNWCasas_BLK_Logo.jpg){kind=logo}
Additional Information
- List Date
- 2026-05-26 15:43:11
- Community
- Lakewood
- Net Operating Income
- $112,092
- Gross Adjusted Income
- $210,339
- Gross Scheduled Income
- $221,400
- Total Monthly Income
- $19,743
- Insurance Expenses
- $11,770
- Water/Sewer/Garbage Expenses
- $27,390
- Gross Rent Multiplier
- 8.58
- Total Expenses
- $113,763
- Cap Rate
- 5.9
- Vacancy Rate
- 5
- Total Number of Units
- 14
- Unit Name
- 12413
- Potential Terms
- Conventional
- Year Built
- 1972
- Roof
- Composition
- Other Expenses
- 48298
- Energy Source
- Electric
- School District
- Lakewood
- Total Monthly Income
- $19,743
- Gross Scheduled Income
- $221,400
- Vacancy Rate
- 5
- Gross Adjusted Income
- $210,339
- Tax Year
- 2026
- Insurance Expense
- $11,770
- W/S/G Expenses
- $27,390
- Total Expenses
- $113,763
- Net Operating Income
- $112,092
- Gross Rent Multiplier
- 8.58
- Cap Rate
- 5.9
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.