12524 Addison Street SW

Lakewood, WA98499

Lakewood multifamily redevelopment opportunity just minutes from JBLM! This MF-3 zoned property offers a proposed 25-unit apartment concept with substantial preliminary development work already completed. Available documentation includes civil engineering plans, topographic survey, geotechnical analysis, landscape design, and mechanical, electrical, and energy coordination—providing a valuable foundation for further development review. Two existing tenant-occupied structures offer potential interim rental income. Potential eligibility for Lakewood's 12-year MFTE program, subject to City requirements and approval. Offered at $799,000, approximately $31,960 per proposed unit. An opportunity for builders and investors seeking multifamily development potential in an established rental market. Buyer to verify feasibility, density, and approvals. Do NOT disturb tenants. Seller is a licensed real estate agent.

Courtesy of NWMLS
Listing Broker: eXp Realty; [email protected]; Claire Fralish; (253) 230-2567



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Last checked: 2026-11-15 02:03 AM PST