Map of Property

Wonderland Apartments

For Sale

14402 Washington Ave SW, Lakewood, WA 98498

This Lakewood property for sale is located at 14402 Washington Ave SW. The current listed sale price for Wonderland Apartments is $1,995,000. Wonderland Apartments is situated on a lot that is 43,125 square feet in size.

Contacts

broker
JD Fuller

Kidder Mathews

broker
Dylan Simon

Kidder Mathews

Property Details

  • Property Type Multi-Family
  • Property Size 9,340 SF
  • Units 10
  • Lot Size 43,125 SF
  • Cap Rate % 7
  • Additional Rent Contact for pricing
  • Year Built 1942
  • Date Updated Nov 19, 2024

Wonderland Apartments, located at 14402 Washington Ave SW, Lakewood, WA, is a 10-unit multifamily investment opportunity with significant value-add potential. The complex, built in 1942, consists of six buildings on a 43,125 SF lot. The units have an average size of 934 SF, totaling 9,340 SF of residential space.

 

Value-Add Potential Wonderland Apartments offers investors a significant value-add opportunity through strategic interior and exterior renovations. Modernizing unit interiors and adding community amenities such as updated common areas, fitness spaces, or outdoor recreational options can command higher rental premiums in a competitive market. Development Potential Wonderland Apartments features 1,200-1,500 SF of vacant space in one building that can be converted into two units. Please discuss the potential with the broker for more details. Proximity to Major Retail and Recreational Hubs Wonderland Apartments offers tenants immediate access to a wide variety of shopping, dining, and entertainment options, including the Lakewood Towne Center and nearby recreational areas like American Lake and Fort Steilacoom Park. This proximity to key lifestyle amenities drives tenant retention and demand. Strategic Location in Growing Lakewood Market Wonderland Apartments is centrally located in Lakewood, WA, a city experiencing significant growth due to its proximity to Tacoma and easy access to major employers like Joint Base Lewis-McChord (JBLM) and the expanding South Sound healthcare sector. The property is positioned to benefit from Lakewood's increasing demand for rental housing as the area attracts more professionals and military personnel.

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Getting around

  • 51/100

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  • 61/100

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Location

  • City Lakewood, WA
  • Neighborhood Tillicum
  • Zip Code 98498
  • Market Seattle

Points of Interest

  • Lakewood

    2.96 miles

  • Saint Joseph

    9.34 miles

  • St Joseph

    9.34 miles

  • South 25th Street

    9.39 miles

  • S 25th St

    9.39 miles

  • Tacoma

    9.59 miles

  • Tacoma Dome

    9.60 miles

  • Union Station

    9.66 miles

  • Union Station/South 19th Street

    9.66 miles

  • Hilltop District

    9.72 miles

  • Chevron

    0.71 miles

  • Madigan Express Station

    0.93 miles

  • 76

    1.30 miles

  • Arco

    1.33 miles

  • Pacific Pride

    1.93 miles

  • Texaco

    2.29 miles

  • North Express Gas Station

    2.46 miles

  • McChord Express

    2.49 miles

  • Shell

    2.66 miles

  • Blink

    3.36 miles

  • Patient

    1.34 miles

  • Reserved

    1.43 miles

  • Gov. Only

    1.52 miles

  • Shoreline Park Park & Ride

    1.83 miles

  • Staff Parking

    2.94 miles

  • Patient/Visitor Parking

    2.96 miles

  • Lakewood Station Parking Garage

    2.98 miles

  • Thornewood Castle

    0.26 miles

  • La Casa Motel

    1.71 miles

  • Comfort Inn & Suites Lakewood by JBLM

    1.77 miles

  • Biltmore Motel

    1.80 miles

  • Fort Lewis Motel

    2.25 miles

  • Holiday Inn Express

    2.60 miles

  • CandleWood Suites

    2.65 miles

  • TownePlace Suites

    2.69 miles

  • Home Motel

    2.80 miles

  • Woodspring Suites

    3.04 miles

  • McChord Field Commissary

    2.35 miles

  • McChord Field Main Exchange

    2.46 miles

  • Burlington

    2.82 miles

  • Safeway

    2.88 miles

  • Ross

    2.96 miles

  • Target

    3.01 miles

  • Marshalls

    3.02 miles

  • Lewis Main Exchange

    3.13 miles

  • Commissary

    3.32 miles

  • Big Lots

    3.36 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Wonderland Apartments