This listing courtesy of Claire Michelle Fralish , eXp Realty

$875,000

12524 Addison Street SW, Lakewood, WA 98499

Multi-Family Home
Built in 1945
0.45acre lot
2 car garage
$——/sqft
Listed 1 month ago

Property Description

Repriced multifamily infill site with ~25-unit development potential and substantial preliminary engineering completed. Civil site planning, topo survey, geotechnical review, landscape design, MEP coordination, and energy documentation available — advancing feasibility and timeline. Two tenant-occupied structures provide interim income. Located near the McChord Field gate of Joint Base Lewis-McChord, supporting durable rental demand. Potential eligibility for the 12-year Multifamily Tax Exemption (MFTE), subject to program requirements. Comprehensive due diligence package available upon mutual. Access coordinated after mutual acceptance. Photos were taken during internal remodel work. Do NOT disturb tenants.

Listing Status:: Active
Data Last Updated:: February 14, 2026 at 6:19AM
Listing Office:: eXp Realty : 888-317-5197
Listing Agent:: Claire Michelle Fralish : 888-317-5197
MLS ID:: 2463229

Flooring: Vinyl PlankCarpet
A/C: None
Heating: Baseboard
Fireplace: Fireplaces: 0

General: Metal/Vinyl
Parking: Parking spaces: 4

Roofing: Composition
General: 52 - Duplex

HOA Amenities: 0.0
Originating MLS: nwmls
School District: Lakewood
County: Pierce

Zoning: 0219123092

Water: Public
Sewer: Sewer Connected

Source: nwmls

This listing courtesy of Claire Michelle Fralish , eXp Realty

Monthly Payment

$Est. Payment

Principal & Interest $
Property Taxes $
Home Insurance $
VA Funding Fee $

Ready to Start a VA Loan?

Get Started

NMLS #1907 ^†

Get Prequalified »

Interest rates used in the VA mortgage calculator are shown for illustrative purposes only. Your rate may differ based on a variety of factors, including your credit score and the current market conditions. To get your personalized interest rate, start your quote online.

Location

Schools Nearby

Tyee Park Elementary School

11920 Seminole Rd SW, Lakewood, WA, 98499

Grades KG-5

0.50 miles away

Special Education Services/Relife

14721 Murray Rd SW, Lakewood, WA, 98439

Grades PK-12

1.38 miles away

Clover Park High School

11023 Gravelly Lake Dr SW, Lakewood, WA, 98499

Grades 9-12

1.27 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.