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Listing Firm: The Paragon Group: Ross Hubbard

Bought With: The Paragon Group : Ross Hubbard

SOLD On September 15, 2022
NWMLS # 1908741

$2,499,900

  • Sold Price

14405 Union Avenue SW, Lakewood, WA 98498-2201

Listings with the three tree icon are courtesy of NWMLS

About This Property

Renovated 16-unit apartment building located in the booming Lakewood rental market! 0% vacancy. Exterior updates include siding, roof, lights, parking lot repairs, etc. Interiors are clean & renovated with LVP flooring, cabinets, appliances, trim, paint, lights, hardware, & more! Over $295k in cap-ex completed over the last 2 years. Property collects additional income from communal coin-op laundry, RUBS, & pet fees. 2 units at $1,195+$85 RUBS. 1 unit at $1,095+$85 RUBS+$50 pet fee. 4 units at $1,095+$85 RUBS. CoC 10 year avg=10%. IRR 10 year avg=32%. Amenities: secure mailboxes, quick access to JBLM/I-5, and a partially fenced dog run. Property performance has been turned around and is ready for a new owner to capitalize on their investment

Buyer's Agent: Ross Hubbard • The Paragon Group

Listed by: Ross Hubbard • The Paragon Group

Aris360 Last Checked: 3 Minutes Ago (Jul 04, 2025 11:21 PM)

  • Source: NWMLS as Distributed by MLS Grid #1908741

    Listing provided courtesy of Northwest Multiple Listing Service (NWMLS)

Location

  • Country: US
  • Neighborhood: Union
  • Zip/Postal Code: 98498
  • City: Lakewood

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$3,847 per month
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Property Features

  • County
    • American Lake
  • Community
    • 41 - Lakewood/Tillicum
  • MLS Area
    • 41 - Lakewood/Tillicum
  • Longitude
    • -122.545669
  • Latitude
    • 47.126209
  • Project
    • American Lake
  • Directions
    • From I-5 S, take exit 122 A-122 B. Turn left onto Murray Rd SW. At traffic circle stay right and continue onto N Thorne Ln SW. Turn left onto Union Ave SW and property is on the left.

  • Floors
    • Vinyl Plank
  • Power Production Type
    • Electric
  • Furnished
    • Unfurnished

  • Stories
    • 1
  • Style
    • 56 - 10+ Units
  • Parking Spaces
    • 13
  • Lot Description
    • Curbs,
    • Paved,
    • Sidewalk,
  • Foundation
    • Poured Concrete,
  • Elevation
    • Feet
  • Water Source
    • Public,
  • Exterior
    • Cement Planked
    • Wood
    • Wood Products
  • Site Description
    • Cable TV,Fenced-Partially,High Speed Internet
  • Roof
    • Composition,
  • Septic or Sewer
    • Available,
    • Septic Tank,
  • Lot Size in Acres
    • 1

  • Condition
    • Average,
  • Water
    • Lakewood Water District
  • Building Total Area (Sq. Ft.)
    • 25000
  • Has View
    • Yes
  • Utilities
    • Cable Connected,
    • High Speed Internet,
    • Septic System,
    • Electric,
  • Energy Features
    • Thermal Windows,
  • View Description
    • Territorial,

  • High School District
    • Clover Park
  • Jr. High School
    • Buyer To Verify
  • Elementary School
    • Buyer To Verify
  • High School
    • Buyer To Verify

  • Possession
    • Closing,
  • Property Type
    • Residential Income
  • Property SubType
    • Multi-Family
  • Tax Year
    • 2022
  • Structure Type
    • Multi Family,
  • Tax Amount
    • $13009
  • Year Built
    • 1976
  • Effective Year Built
    • 1978
  • Status
    • Sold
  • Project
    • American Lake

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Disclaimer: Based on information submitted to the MLS GRID as of Fri Jul 04 2025 . 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.

Jul 04, 2025 11:21 PM