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HDN Apartments 4902 111th St SW 8 Unit Apartment Building $2,300,925 CAD ($287,616 CAD/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 (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$159,341
|
$35.16
|
| Other Income |
$1,367
|
$0.30
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$160,708
|
$35.46
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$39,976
|
$8.82
|
| Net Operating Income |
$120,732
|
$26.64
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $159,341 |
| Annual Per SF | $35.16 |
| Other Income (CAD) | |
|---|---|
| Annual | $1,367 |
| Annual Per SF | $0.30 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $160,708 |
| Annual Per SF | $35.46 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $39,976 |
| Annual Per SF | $8.82 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $120,732 |
| Annual Per SF | $26.64 |
Property Facts
| Price | $2,300,925 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $287,616 CAD | 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 | $2,300,925 CAD |
| Price Per Unit | $287,616 CAD |
| 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 | $528,429 CAD |
| Land Assessment | $650,202 CAD | Total Assessment | $1,178,631 CAD |
Property Taxes
Parcel Number
508000-0082
Land Assessment
$650,202 CAD
Improvements Assessment
$528,429 CAD
Total Assessment
$1,178,631 CAD
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HDN Apartments | 4902 111th St SW
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