Address Map
US
Washington
Pierce
Lakewood
98499
Chicago Avenue
5226
W123° 29' 34.5''
N47° 8' 25.3''
SW
Additional Information
Tyler Bretz
29375
1002746
44,867 Sqft
40
The Grand Cedars Apartments
SE Pierce County
2
Wood
98112
WA
Seattle
2811 E. Madison St., Ste. 204
Property Description

Introducing Grand Cedars Apartments—a standout turnkey investment opportunity in Lakewood’s Springbrook neighborhood. This 29-unit apartment community is priced at $137,931 per unit, offering a strong in-place Cap Rate of 6.65% and compelling year-one cash flow. Investors can maximize returns by bringing all units up to market rents, unlocking additional revenue potential.Each unit has been expertly upgraded with new countertops, flooring, cabinets, water heaters, and appliances, providing modern, high-quality living spaces that attract and retain tenants.For investors seeking a low-maintenance asset with strong returns, Grand Cedars Apartments presents an exceptional opportunity. Competitively priced below similarly renovated sale comparables, this high-performing property offers both

For Sale

5226 Chicago Avenue, Lakewood, Washington 98499

  • Square Footage: 18,496 Sqft
$4,000,000
Listing ID#698747
QR Code
Basic Details
Property Type : Multi-family
Listing Type : For Sale
Listing ID : 698747
Price : $4,000,000
Square Footage : 18,496 Sqft
Year Built : 1969
Status : Active
Office Name : Urban Commercial Partners, LLC
Property Sub Type : Multi-family
BROKER INFO
Rene Orona
BROKER OF REAL ESTATE
BROKER OF REAL ESTATE
3380 146th PL SE Suite 300
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CONTACT BROKER
Urban Commercial Partners, LLC