This stunning lakefront property is unlike anything you’ve ever seen! Sited on 700 feet of waterfront and 9.31 acres, this special property is the perfect combination of lakefront luxury and income generating rentals. The hallmark of the property is the lakefront lodge. At more than 4,200 square feet, clad in stone, stucco, slate, and copper, this beautiful home features a main level primary suite, an expansive kitchen, a two-story great room, and an attached ADU/MIL above the three-car garage. Open the three sets of French doors in the great room for a seamless indoor-outdoor flow onto the covered outdoor patio. Enjoy beautiful lake views from nearly every room, especially the elevated ADU which offers two private external entrances and interior access from the main residence. The South-facing shoreline features a picturesque Mount Rainier view. The dock easily accommodates a float plane or large vessel, with an extra motorized float perfect for cruising the lake with friends. Now, the rentals. This single-parcel property includes 7 rental units: two 1-bed duplexes, a 2-bed duplex, and an additional single-family home. These additional residences have all received consistent updates throughout the years and benefits from long-term tenants who would love to stay. Photos of the SFR and one of the duplex units are included in this listing. Gross annual income exceeds $100,000 per year and a rent roll is available upon request. This one-of-a-kind property is as rare as it comes.
Active
Listed by: COMPASS
$3,400,000
1000 Creso Road S, Spanaway, WA 98387
12beds
8,655sqft
Est.: Get pre-qualified
Single Family Residence
Built in 2001
9.31 Acres Lot
$3,320,600 Zestimate®
$393/sqft
$-- HOA
What's special
Lakefront propertyLakefront lodgeExpansive kitchenMain level primary suiteTwo-story great room
- 15 days |
- 1,059 |
- 81 |
Zillow last checked:
Listing updated:
Listed by:
Greg Garner,
COMPASS,
Christopher P Murphy,
COMPASS
Source: NWMLS as distributed by MLS GRID,MLS#: 2525804
Tour with a local agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 12
- Bathrooms: 10
- Full bathrooms: 9
- 1/2 bathrooms: 1
- Main level bathrooms: 2
- Main level bedrooms: 2
Primary bedroom
- Level: Main
Bedroom
- Level: Second
Bedroom
- Level: Second
Bedroom
- Level: Main
Bathroom full
- Level: Second
Bathroom full
- Level: Second
Bathroom full
- Level: Main
Other
- Level: Main
Bonus room
- Level: Second
Den office
- Level: Main
Dining room
- Level: Main
Entry hall
- Level: Main
Great room
- Level: Main
Kitchen with eating space
- Level: Main
Other
- Level: Main
Utility room
- Level: Main
Heating
- Fireplace, Forced Air, Heat Pump, High Efficiency (Unspecified), Electric, Wood
Cooling
- Heat Pump
Appliances
- Included: Dishwasher, Dryer, Microwave, Refrigerator, Stove(s)/Range(s), Washer, Dishwasher(s), Dryer(s), Microwave(s), Refrigerator(s), Washer(s), Water Heater: Electric, Water Heater Location: Laundry Room
Features
- Bath Off Primary
- Flooring: Hardwood, Slate, Vinyl, Vinyl Plank, Carpet
- Doors: French Doors
- Windows: Dbl Pane/Storm Window
- Basement: None
- Number of fireplaces: 1
- Fireplace features: Wood Burning, Main Level: 1, Fireplace
Interior area
- Total structure area: 4,233
- Total interior livable area: 8,655 sqft
Property
Parking
- Total spaces: 8
- Parking features: Attached Garage, RV Parking
- Has attached garage: Yes
- Covered spaces: 3
- Uncovered spaces: 5
Features
- Levels: Two
- Stories: 2
- Entry location: Main
- Patio & porch: Second Kitchen, Bath Off Primary, Dbl Pane/Storm Window, Fireplace, French Doors, Jetted Tub, Vaulted Ceiling(s), Walk-In Closet(s), Water Heater
- Spa features: Bath
- Has view: Yes
- View description: Lake, Mountain(s)
- Has water view: Yes
- Water view: Lake
- Waterfront features: Lake, No Bank
- Frontage length: Waterfront Ft: 700
Lot
- Size: 9.31 Acres
- Features: Cul-De-Sac, Paved, Secluded, Dock, Electric Car Charging, Gated Entry, High Speed Internet, Moorage, Outbuildings, Outdoor Fireplace, Patio, RV Parking, Sprinkler System
- Topography: Level
- Residential vegetation: Fruit Trees, Garden Space
Details
- Additional structures: ADU Beds: 4, ADU Baths: 2
- Parcel number: 0319291021
- Zoning: Residential
- Zoning description: Jurisdiction: County
- Special conditions: Standard
- Other equipment: Leased Equipment: None
Construction
Type & style
- Home type: SingleFamily
- Architectural style: See Remarks,2 Story
- Property subtype: Single Family Residence
Materials
- Stone, Stucco, Wood Siding
- Foundation: Poured Concrete
- Roof: Tile
Condition
- Very Good
- Year built: 2001
- Major remodel year: 2005
Utilities & green energy
- Electric: Company: Elmhurst
- Sewer: Septic Tank, Company: Septic
- Water: Public, Company: Spanaway Water
Community & HOA
Community
- Subdivision: Spanaway Lake
Location
- Region: Spanaway
Financial & listing details
- Price per square foot: $393/sqft
- Tax assessed value: $2,800,000
- Annual tax amount: $32,136
- Date on market: 5/18/2026
- Cumulative days on market: 16 days
- Listing terms: Conventional
- Inclusions: Dishwasher(s), Dryer(s), Leased Equipment, Microwave(s), Refrigerator(s), Stove(s)/Range(s), Washer(s)
Estimated market value
$3,320,600
$3.15M - $3.49M
$2,983/mo
Price history
| Date | Event | Price |
|---|---|---|
| 5/19/2026 | Listed for sale | $3,400,000+655.6%$393/sqft |
Source:  NWMLS as distributed by MLS GRID #2525804 Report a problem | ||
| 4/9/2001 | Sold | $450,000$52/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $33,164 +12% | $2,800,000 +16.5% |
| 2023 | $29,608 -1% | $2,404,100 -3% |
| 2022 | $29,896 +14.9% | $2,478,900 +28.2% |
| 2021 | $26,021 +27.7% | $1,933,300 +19.3% |
| 2019 | $20,376 -11.4% | $1,621,000 -3.4% |
| 2018 | $23,008 +13.6% | $1,677,800 +13.3% |
| 2017 | $20,246 +6.1% | $1,481,100 +32.1% |
| 2016 | $19,088 | $1,121,400 -1.2% |
| 2014 | $19,088 +21.2% | $1,134,600 +16.8% |
| 2013 | $15,750 | $971,800 +2.3% |
| 2012 | -- | $950,300 -18.7% |
| 2011 | -- | $1,168,800 -8.8% |
| 2010 | -- | $1,281,400 -7.7% |
| 2009 | -- | $1,388,300 -11.9% |
| 2008 | $17,130 +91.5% | $1,576,200 +112% |
| 2002 | $8,947 | $743,400 |
Find assessor info on the county website
Monthly payment
Est. payment$--/mo
Payment breakdown
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HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
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Climate risks
Neighborhood: 98387
Nearby schools
GreatSchools rating
- 5/10Spanaway Elementary SchoolGrades: K-5Distance: 0.6 mi
- 7/10Spanaway Junior High SchoolGrades: 6-8Distance: 1.3 mi
- 4/10Spanaway Lake High SchoolGrades: 9-12Distance: 1.8 mi
Schools provided by the listing agent
- Elementary: Spanaway Elem
- Middle: Spanaway Jnr High
- High: Spanaway Lake High
Source: NWMLS as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
A local agent can set up tours, give advice and negotiate with sellers.
- Washington
- Pierce County
- Spanaway
- 98387
- 1000 Creso Road S
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