Active
16 beds10 baths4,233 sqft$803/sqft
1000 Creso Rd S, Spanaway, WA 98387
Est: $20,248/moGet pre-approved
Multi FamilyProperty Type
9.31 acresLot Size
2001Year Built
$803/sq ftPrice per sq ft
30 carsParking Spaces
2.5%Buyer's Agent Compensation

Description

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...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.

Listing Agents

  1. Greg Garner

    Greg Garner

    Listing Agent

    Compass

    P: (253) 279-8000

  2. Chris Murphy

    Chris Murphy

    Alternative Listing Agent

    Compass

    P: (360) 918-6497

118 days on Market
Cumulative days on Market: 118
Last updated: 08/18/2026 11:18 AM • Source: NWMLS as distributed by MLS GRID, MLS#: 2553466

Location

Listing Courtesy of Compass
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$20,248 per month

30 year fixed, 6.71% Interest

Principal and Interest

$17,570

Property Taxes

$2,678

HOA Dues

$0

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Property Information for 1000 Creso Road South

Property Details
  • Taxes: $32,136 / year
  • MLS Type: Residential Income
  • Buyer's Agent Compensation: 2.5%
  • Community Name: Spanaway Lake
  • School District: Bethel
  • View: Lake, Mountains
  • Number of Assigned Spaces: 30
  • Total Covered Parking: 10
  • Entry Date: 05-19-2026
  • Energy Source: Electric,Wood
  • Sewer: Septic Tank
Building Information
  • Stories: 2
  • Residences: 5
  • Year Built: 2001
  • Lot Size: 9.31 AC / 405,544 SF
Summary
Location and General Information
  • Style: 55 - 5-9 Units
  • Site Features: Dock, Electric Car Charging, Gated Entry, High Speed Internet, Outbuildings, Outdoor Fireplace, Patio, RV Parking, Sprinkler System
  • Area: 99 - Spanaway
  • Elementary School: Spanaway Elem
  • Middle Or Junior School: Spanaway Jnr High
  • High School: Spanaway Lake High
  • Effective Year Built Source: Public Records
  • Directions: From Hwy 512 and Steele St continue south transitioning into Spanaway Loop Rd. Follow Spanaway Loop Rd approx 5 miles to Creso Road. Left on Creso Rd. 1000 Creso Rd is through the gates at the end.
  • Leased Items: None
  • Property Sub Type: MULT
  • View: Yes
  • Waterfront: Yes
Taxes and HOA Information
  • Tax Year: 2026
Parking
  • Garage Spaces: 4.0
  • Number of Carport Spaces: 6.0
  • Carport: No
  • Parking Type: RV Parking
  • Open Parking: No
  • Parking Features: RV Parking
Virtual Tour
Interior and Exterior Features
Bathroom Information
  • Full Baths Upper: 0
  • Three Quarter Baths Upper: 0
  • Half Baths Upper: 0
  • Main Level Bathrooms: 0
Bedroom Information
  • Bedrooms Upper: 0
  • Bedrooms Possible: 13
Interior Features
  • Fireplaces Total: 0
  • Floor Covering: Hardwood, Slate, Vinyl, Vinyl Plank, Carpet
  • Cooling: Yes
  • Cooling: Heat Pump
  • Fireplace: No
  • Heating: Yes
  • Heating: Forced Air, Heat Pump, High Efficiency (Unspecified)
  • FIRPTA: No
Exterior Features
  • Exterior: Stone, Stucco, Wood
  • Roof: Tile
  • Waterfront Description: Lake, No Bank
  • Security Features: Security Gate
Property
Utilities
  • Water Source: Public
  • Water/Sewer/Garbage: 9096
  • Power Company: Elmhurst
  • Sewer Company: Septic
  • Water Company: Spanaway Water
  • Power Production Type: Electric, Wood
Property and Assessments
  • New Construction YN: No
  • Zoning Jurisdiction: County
  • Foundation: Poured Concrete
  • Zoning Remarks: Residential
  • First Right Of Refusal: false
  • Possible Use: Residential
  • Letter On File: Duplicate Prop Type
  • MLS Square Footage Source: Public Records
  • Preliminary Title Ordered: Yes
  • Senior Community: No
  • Special Listing Conditions: None
  • Year Built Effective: 2005
  • Photos Count: 40
Lot Information
  • Lot Details: Cul-De-Sac, Paved, Secluded
  • Lot Size Dimensions: Irregular
  • Lot Size Source: Public Records
  • Parcel Number Free Text: 0319291021
  • Building Condition: Very Good
  • Calculated Square Footage: 4233
  • Structure Type: Multi Family
  • Square Footage Finished: 0
  • Square Footage Unfinished: 0
  • Building Area Total: 4233.0
  • Building Area Units: Square Feet
  • Property Type: Residential Income
  • Elevation Units: Feet
  • Irrigation Water Rights: No
  • Water Access: Deeded Access
Multi Family
Building Details
  • Total Uncovered Parking: 20
  • Number of Stories in Building: 2
  • Vacancy Rate: 4
  • Number Of Units Total: 5
  • Units Below Grade: false
  • Units In Building Total: 8
Financing / Income and Expenses
  • Electric Expense: $0
  • Total Expenses: 59232
  • Gross Adjusted Income: 170496
  • Gross Rent Multiplier: 19.14
  • Gross Scheduled Income: $177,600
  • Insurance Expense: $6,000
  • Net Operating Income: $111,260
  • Other Expenses: $12,000
  • Total Monthly Income: 14800
  • Fuel Expense: $0
Unit 1
  • Name Unit 1: 1000
  • Washer/Dryer Unit 1: true
  • Range/Oven Unit 1: true
  • Refrigerator Unit 1: true
  • Dishwasher Unit 1: false
  • Square Feet Unit 1: 4233
  • Rent Unit 1: $6,000.00
  • Bedrooms Unit 1: 4
  • Fireplaces Unit 1: 0
  • Bathrooms Unit 1: 3
Unit 2
  • Name Unit 2: 16518
  • Washer/Dryer Unit 2: true
  • Range/Oven Unit 2: true
  • Refrigerator Unit 2: true
  • Dishwasher Unit 2: false
  • Square Feet Unit 2: 700
  • Rent Unit 2: $1,500.00
  • Bedrooms Unit 2: 2
  • Fireplaces Unit 2: 0
  • Bathrooms Unit 2: 1
Unit 3
  • Name Unit 3: 16407&09
  • Washer/Dryer Unit 3: true
  • Range/Oven Unit 3: true
  • Refrigerator Unit 3: true
  • Dishwasher Unit 3: false
  • Square Feet Unit 3: 1400
  • Rent Unit 3: $2,900.00
  • Bedrooms Unit 3: 4
  • Fireplaces Unit 3: 0
  • Bathrooms Unit 3: 2
Unit 4
  • Name Unit 4: 16511&13
  • Washer/Dryer Unit 4: true
  • Range/Oven Unit 4: true
  • Refrigerator Unit 4: true
  • Dishwasher Unit 4: false
  • Square Feet Unit 4: 1200
  • Rent Unit 4: $2,100.00
  • Bedrooms Unit 4: 4
  • Fireplaces Unit 4: 0
  • Bathrooms Unit 4: 2
Unit 5
  • Name Unit 5: 16515&17
  • Washer/Dryer Unit 5: true
  • Range/Oven Unit 5: true
  • Refrigerator Unit 5: true
  • Dishwasher Unit 5: false
  • Square Feet Unit 5: 1200
  • Rent Unit 5: $2,300.00
  • Bedrooms Unit 5: 2
  • Fireplaces Unit 5: 0
  • Bathrooms Unit 5: 2
Rental
Rent Information
  • Occupant Type: Owner
  • Leasable Area: 8655.0

Property History for 1000 Creso Road South

DateEvent & SourcePriceAppreciation
May 19, 2026

Listed (Active)

NWMLS #2525804

$3,400,000
May 19, 2026

Listed (Active)

NWMLS #2553466

$3,400,000
Apr 9, 2001

Sold (Public Record)

Public Record #71011401

$450,000
DateEvent & SourcePrice
05/19/2026

Listed (Active)

NWMLS #2525804

$3,400,000
05/19/2026

Listed (Active)

NWMLS #2553466

$3,400,000
04/09/2001

Sold (Public Record)

Public Record #71011401

$450,000

For completeness, we often displays two records for one sale: the MLS record and the public record.

Public Records for 1000 Creso Road South

Taxable ValueLand$1,020,700Additions$1,654,900Total$2,675,600
Tax Record2025$33,164 ($2,764 / month)
Home Facts
Baths10.5Total Finished SqFt8,655 SqFtAbove Ground SqFt8,655 SqFtStories1Lot Size405,544 SqFtStyleDuplexYear Built1961Year Renovated1985ZoningRRCountyPIERCEAPN031929-1-021

Schools near 1000 Creso Road South

This home is within Bethel School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Spanaway Elementary School
PublicK to 5

Spanaway Junior High School
Public6 to 8

Spanaway Lake High School
Public9 to 12

Acceleration Academy
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

1000 Creso Road South is a multi-family home for sale in Spanaway, WA 98387. This property was listed for sale on May 19, 2026 by Compass, it's currently listed at $3,400,000. It has been on the market for a total of 118 days and was last sold on April 9, 2001. This listing's school district is Bethel School District. Nearby schools include Spanaway Elementary School, Spanaway Junior High School and Spanaway Lake High School. 1000 Creso Road South is a 16-bed, 10-bath, 4,233 sqft multi-family home built in 2001.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity. Subject to change at any time. Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties make no guarantee, warranty or representation regarding the accuracy of any waterfront feature, water view or waterfront view.

Listing Courtesy of Compass

Based on information submitted to the MLS GRID as of 08/18/2026 11:18 AM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Properties displayed may be listed or sold by various participants in the MLS. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed by MLS GRID. Use of the MLS GRID data may be subject to an end user license agreement prescribed by the applicable MLS of the Member Participant, if any, and as amended from time to time.