9318 Veterans Dr SW APT A, Lakewood, WA 98498

A very unique opportunity for a southern exposure multi-family property with direct waterfront access on American Lake in Lakewood. There are gorgeous sunrises and sunsets with 180° views of the lake, Mount Rainier and the Cascades, along with Western sunsets on a regular basis! The pictures were taken directly from this property, and provide for a great backdrop for your quality living environment! The property is located immediately west of the American Lake Park and Boat Launch on the north side of American Lake, and there is always interesting and entertaining action going on at the launch! Ideally located – Bus stops on Veterans Drive are located at the end of the entrance driveway, and easy 5-minute drive into Lakewood Town Center (containing many shops and businesses), a 5-minute drive onto I-5, and a 12-minute drive into Tacoma (Costco, etc.) You don’t have to fight the I-5 traffic of JBLM military bases; however, the property is ideally located for renting to our military service personnel. This offering consists of two separate parcels, with the smaller lot size being 31,805 ft.², with 2,216 ft.² of living structure; and the larger lot size being 47,800 SF and living structure of 5,900 ft.². Total land area for both parcels is 79,605SF. Total living area for both parcels is 8,100 SF. The larger parcel contains 8ea. - 1-bedroom standalone homes, 1ea. – 2 bedroom lower unit of a duplex, and a main home with 3 bedroom, + 3 bay garage main + deck looking the lake, totaling 5,900 ft.² of living structures. There are total of eight garages on this parcel, and a heavy duty built 100’+ dock capable of mooring 6 larger boats, which is great for additional moorage income. A Lakeside shed provides a great storage facility for skis, wakeboards, etc. The smaller parcel consists of 2ea.-2 bedroom homes and 2ea.- 1 bedroom homes, and includes an 800 ft.² shop, several portable storage units (10’x20’ + 8’x12’), a 320 ft.² material supply barn, a covered RV storage area, as well as a large concrete basketball court also utilized for overflow parking. Eight of these homes were built in the 1940’s for the nurses attending to our returning World War II veterans down at the VA hospital, located just down the street. Structures were typically re-roofed in 2008–2009, fully painted in 2017, with many having updated kitchens, bathrooms, and newer carpet/flooring in most all rooms. These individual homes are very unique, and provide for renters that don’t want to live in the tight spaces of apartment living! Current rents are typically below market, thus providing an upside for investors. Guest parking is also provided. Investors can presumably keep the main home as the owner-occupied unit, all the while allowing for the rental units to pay for a high-quality Lakeside living environment for the owner, all the while providing great right off potential! The homes/cottages can be kept as is, as short-term rentals, or perhaps even redevelop the property in the future. There is no HOA in place or required. This property opportunity is very rare and seldom comes up on the market!