12524 Addison St SW
Lakewood, WA 98499
Listing Office
Office 
Exp Realty
Exp Realty
Active
$799,000
-8.7%
12524 Addison St SW Lakewood, WA 98499
Single Family Home
Property Type
3
Beds
2
Baths
832
Sq. Ft.
1945
Year Built
Pierce
County
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.
MLS® #
2506001
Monthly HOA
N/A
On Site
Not Available
Last Updated
10/16/2026
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Michael Ross
(206) 550-9635Property Details
Community Information
Address
12524 Addison St SW, Lakewood, WA 98499
Area
37 - Lakewood
County
Pierce
City
Lakewood
School District
Clover Park
Subdivision
Lakewood
Zip Code
98499
Architecture
Bedrooms
3
Bathrooms
2
Year Built
1945
Construction Materials
Metal/Vinyl
Year Built Effective
1988
Building Style
1 Story
Building Information
Built On Lot
Building Condition
Good
Roof
Composition
Parking Features
Driveway, Detached Garage
Features / Amenities
Flooring
Vinyl Plank, Carpet
Exterior Features
Metal/Vinyl
Entry Location
Main
Security Features
Fully Fenced
Site Features
Deck, Fenced-Fully
Covered Spaces
2
Parking Total
2
Heating
Baseboard
Property Features
Lot Size
0.45 Acres
Lot Dimensions
19,600
Lot Features
Dead End Street, Value In Land
Topography
Level
Sq.Ft. Size
832
Lot Sq.Ft. Size
19600
Sewer
Sewer Connected
Water
Public
Directions
From I-5 Exit 123, west on Thorne Ln SW, left on Union Ave SW, right on Lakeview Ave SW, left on Addison St SW. Property is on the left.
Tax and Financial Info
Tax Year
2025
Tax Annual Amount
$5,356
Listing Terms
Assumable, Cash, Conventional, VA Loan
Offers
Seller intends to review offers upon receipt
Possession
Closing, Subject To Tenant Rights
Rooms
| Level | |
| Entry Hall | Main |
| Family Room | Main |
| Kitchen Without Eating Space | Main |
| Primary Bedroom | Main |
| Bedroom | Main |
| Bedroom | Main |
| Bathroom Full | Main |
| Bathroom Full | Main |
Mortgage Calculator
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Purchase price
Down payment
The Mortgage calculator is sourced by Sierra Interactive.
Price Change History
| Date | Old Price | New Price | Percent Change |
| 4/15/2026 | $875,000 | $799,000 |
-8.7%
|
Schools
Schedule a Tour
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Tue
20
Oct
Wed
21
Oct
Thu
22
Oct
Fri
23
Oct
Sat
24
Oct
Sun
25
Oct
Mon
26
Oct
Scheduling is free, and you can cancel anytime.
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