11002 Idlewild Rd SW

Lakewood, WA 98498

$2,100,000
Price
18
Beds
12
Baths
6,240 Sq. Ft.
$337 / Sq. Ft.
6,240
Sq. Ft.
$337
per Sq. Ft.
Get preapproved with Rocket Mortgage1
Listing provided courtesy of Keller Williams Rty Tacoma
Source: Northwest MLS

Description

Exceptional investment opportunity featuring 12 rental units across 6 duplex buildings, offering immediate income with significant upside potential. Centrally located with convenient access to shopping, services, and major transportation routes, this property is well-positioned to attract and retain long-term tenants. Each duplex consists of one 2-bedroom, 1-bath unit and one 1-bedroom, 1-bath unit, creating a desirable unit mix that appeals to a broad tenant base. Current rents are below market,...Exceptional investment opportunity featuring 12 rental units across 6 duplex buildings, offering immediate income with significant upside potential. Centrally located with convenient access to shopping, services, and major transportation routes, this property is well-positioned to attract and retain long-term tenants. Each duplex consists of one 2-bedroom, 1-bath unit and one 1-bedroom, 1-bath unit, creating a desirable unit mix that appeals to a broad tenant base. Current rents are below market, presenting a compelling opportunity for a savvy investor to increase cash flow and improve overall returns. Several units have benefited from interior renovations, while portions of the exterior have been upgraded with new siding. Durable metal roofing, selective exterior improvements, and a straightforward design contribute to a relatively low-maintenance investment. An on-site laundry facility provides additional income potential for residents. Situated on a large parcel, the property appears to offer future development opportunities that could substantially increase income and overall value (buyer to verify all development potential and feasibility). Whether you're looking to expand an existing portfolio or acquire a value-add asset with multiple paths to increased returns, this property deserves serious consideration. Opportunities combining current income, rental upside, low-maintenance ownership, and potential future development are increasingly difficult to find.
  1. Listed by Matt Harber • Keller Williams Rty Tacoma
    P: (253)-460-8640 matt@harberhomegroup.com

Property Details for 11002 Idlewild Road Southwest

Community Name
Lakewood
School District
Clover Park
Number of Assigned Spaces
18
Total Covered Parking
6
Entry Date
06-04-2026
Energy Source
Electric
Sewer
Sewer Connected
LISTING UPDATED: 06/05/2026 08:42 PM

Property Details for 11002 Idlewild Road Southwest

StatusActive
MLS #2535832
Days on Market3
Cumulative Days on Market3
Taxes$16,508 / year
HOA Fees-
Condo/Co-op Fees-
Property TypeMulti Family
MLS TypeResidential Income
Year Built1955
Lot Size1.33 AC / 58,109 SF
CountyPierce County
Get preapproved with Rocket Mortgage1

Location

Listing Courtesy of Keller Williams Rty Tacoma
Add your commute

Building Information for 11002 Idlewild Road Southwest

Stories1Residences12Year Built1955Building Size-Lot Size1.33 AC / 58,109 SF

Payment Calculator

Get preapproved with
OriginPoint Mortgage or Rocket Mortgage1

$11,840 per month

30 year fixed, 6.36% Interest

Principal and Interest

$10,465

Property Taxes

$1,376

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Know your buying power with a preapproval and custom rate in minutes

Rocket Mortgage1

Property Information for 11002 Idlewild Road Southwest

Summary
Location and General Information
  • Style: 55 - 5-9 Units
  • Site Features: Fenced-Partially, Patio
  • Area: 38 - Lakewood
  • Elementary School: Idlewild Elem
  • Middle Or Junior School: Mann Mid
  • High School: Clover Park High
  • Effective Year Built Source: Public Records
  • Directions: From I-5 take the Gravelly Lake dr Exit. Stay on Gravelly Lk Dr. then head West on Washington Blvd. Make an Immediate R. (North) onto Interlaaken take a L (west) onto 112th R. (North) at Idelwild
  • Leased Items: None
  • Property Sub Type: MULT
  • View: No
  • Waterfront: No
Taxes and HOA Information
  • Tax Year: 2025
Parking
  • Garage Spaces: 0.0
  • Number of Carport Spaces: 6.0
  • Carport: No
  • Open Parking: No
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
Interior Features
  • Fireplaces Total: 0
  • Floor Covering: Laminate, Vinyl, Vinyl Plank
  • Amenities: Coin Op Laundry
  • Cooling: No
  • Cooling: None
  • Fireplace: No
  • Heating: Yes
  • Heating: Baseboard, Wall Furnace
  • FIRPTA: No
Exterior Features
  • Exterior: Cement/Concrete, Stucco, Wood
  • Roof: Metal
  • Security Features: Partially Fenced
Property
Utilities
  • Water Source: Public
  • Water/Sewer/Garbage: 17907
  • Power Company: PSE
  • Sewer Company: Pierce County
  • Water Company: Lakewood Water
  • Power Production Type: Electric
Property and Assessments
  • New Construction YN: No
  • Zoning Remarks: Multi-Family
  • First Right Of Refusal: false
  • Possible Use: Multi-Family
  • MLS Square Footage Source: Tax Records
  • Preliminary Title Ordered: Yes
  • Senior Community: No
  • Special Listing Conditions: None
  • Year Built Effective: 1991
  • Photos Count: 17
Lot Information
  • Lot Details: Curbs, Dead End Street, Paved
  • Lot Size Source: Tax Records
  • Parcel Number Free Text: 0219033008
  • Building Condition: Average
  • Calculated Square Footage: 6240
  • Structure Type: Multi Family
  • Square Footage Finished: 0
  • Square Footage Unfinished: 0
  • Building Area Total: 6240.0
  • Building Area Units: Square Feet
  • Property Type: Residential Income
  • Elevation Units: Feet
  • Irrigation Water Rights: No
Multi Family
Building Details
  • Total Uncovered Parking: 12
  • Number of Stories in Building: 1
  • Vacancy Rate: 5
  • Number Of Units Total: 12
  • Units Below Grade: false
  • Units In Building Total: 12
Financing / Income and Expenses
  • Electric Expense: $568
  • Total Expenses: 41590
  • Gross Adjusted Income: 147664
  • Gross Rent Multiplier: 13.5
  • Gross Scheduled Income: $155,436
  • Insurance Expense: $6,607
  • Net Operating Income: $113,846
  • Other Expenses: $0
  • Total Monthly Income: 12983
  • Fuel Expense: $0
Unit 1
  • Name Unit 1: 1
  • Washer/Dryer Unit 1: false
  • Range/Oven Unit 1: true
  • Refrigerator Unit 1: true
  • Dishwasher Unit 1: false
  • Square Feet Unit 1: 600
  • Rent Unit 1: $950.00
  • Bedrooms Unit 1: 2
  • Fireplaces Unit 1: 0
  • Bathrooms Unit 1: 1
Unit 2
  • Name Unit 2: 12
  • Washer/Dryer Unit 2: false
  • Range/Oven Unit 2: true
  • Refrigerator Unit 2: true
  • Dishwasher Unit 2: false
  • Square Feet Unit 2: 440
  • Rent Unit 2: $1,250.00
  • Bedrooms Unit 2: 1
  • Fireplaces Unit 2: 0
  • Bathrooms Unit 2: 1
Unit 3
  • Name Unit 3: 2
  • Washer/Dryer Unit 3: false
  • Range/Oven Unit 3: true
  • Refrigerator Unit 3: true
  • Dishwasher Unit 3: false
  • Square Feet Unit 3: 440
  • Rent Unit 3: $1,050.00
  • Bedrooms Unit 3: 1
  • Fireplaces Unit 3: 0
  • Bathrooms Unit 3: 1
Unit 4
  • Name Unit 4: 9
  • Washer/Dryer Unit 4: false
  • Range/Oven Unit 4: true
  • Refrigerator Unit 4: true
  • Dishwasher Unit 4: false
  • Square Feet Unit 4: 600
  • Rent Unit 4: $1,400.00
  • Bedrooms Unit 4: 2
  • Fireplaces Unit 4: 0
  • Bathrooms Unit 4: 1
Unit 5
  • Name Unit 5: 5
  • Washer/Dryer Unit 5: false
  • Range/Oven Unit 5: true
  • Refrigerator Unit 5: true
  • Dishwasher Unit 5: false
  • Square Feet Unit 5: 600
  • Rent Unit 5: $1,125.00
  • Bedrooms Unit 5: 2
  • Fireplaces Unit 5: 0
  • Bathrooms Unit 5: 1
Unit 6
  • Name Unit 6: 6
  • Washer/Dryer Unit 6: false
  • Range/Oven Unit 6: true
  • Refrigerator Unit 6: true
  • Dishwasher Unit 6: false
  • Square Feet Unit 6: 440
  • Rent Unit 6: $1,045.00
  • Bedrooms Unit 6: 1
  • Fireplaces Unit 6: 0
  • Bathrooms Unit 6: 1
Unit 7
  • Name Unit 7: 3
  • Washer/Dryer Unit 7: false
  • Range/Oven Unit 7: true
  • Refrigerator Unit 7: true
  • Dishwasher Unit 7: true
  • Square Feet Unit 7: 600
  • Rent Unit 7: $163.00
  • Bedrooms Unit 7: 2
  • Fireplaces Unit 7: 0
  • Bathrooms Unit 7: 1
Unit 8
  • Name Unit 8: 4
  • Washer/Dryer Unit 8: false
  • Range/Oven Unit 8: true
  • Refrigerator Unit 8: true
  • Dishwasher Unit 8: true
  • Square Feet Unit 8: 440
  • Rent Unit 8: $825.00
  • Bedrooms Unit 8: 1
  • Fireplaces Unit 8: 0
  • Bathrooms Unit 8: 1
Unit 9
  • Name Unit 9: 7
  • Washer/Dryer Unit 9: false
  • Range/Oven Unit 9: true
  • Refrigerator Unit 9: true
  • Dishwasher Unit 9: true
  • Square Feet Unit 9: 600
  • Rent Unit 9: $1,400.00
  • Bedrooms Unit 9: 2
  • Fireplaces Unit 9: 0
  • Bathrooms Unit 9: 1
Unit 10
  • Name Unit 10: 8
  • Washer/Dryer Unit 10: false
  • Range/Oven Unit 10: true
  • Refrigerator Unit 10: true
  • Dishwasher Unit 10: true
  • Square Feet Unit 10: 440
  • Rent Unit 10: $1,075.00
  • Bedrooms Unit 10: 1
  • Fireplaces Unit 10: 0
  • Bathrooms Unit 10: 1
Unit 11
  • Name Unit 11: 10
  • Washer/Dryer Unit 11: false
  • Range/Oven Unit 11: true
  • Refrigerator Unit 11: true
  • Dishwasher Unit 11: true
  • Square Feet Unit 11: 440
  • Rent Unit 11: $1,200.00
  • Bedrooms Unit 11: 1
  • Fireplaces Unit 11: 0
  • Bathrooms Unit 11: 1
Unit 12
  • Name Unit 12: 11
  • Washer/Dryer Unit 12: false
  • Range/Oven Unit 12: true
  • Refrigerator Unit 12: true
  • Dishwasher Unit 12: true
  • Square Feet Unit 12: 600
  • Rent Unit 12: $1,100.00
  • Bedrooms Unit 12: 2
  • Fireplaces Unit 12: 0
  • Bathrooms Unit 12: 1
Rental
Rent Information
  • Occupant Type: Tenant
  • Leasable Area: 6240.0

Property History for 11002 Idlewild Road Southwest

DateEvent & SourcePriceAppreciation
Jun 4, 2026

Listed (Active)

NWMLS #2535832

$2,100,000—
DateEvent & SourcePrice
06/04/2026

Listed (Active)

NWMLS #2535832

$2,100,000

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

Public Records for 11002 Idlewild Road Southwest

Taxable ValueLand$591,500Additions$367,500Total$959,000
Tax Record2021$13,004 ($1,084 / month)
Home Facts
Total Finished SqFt6,240 SqFtAbove Ground SqFt6,240 SqFtStories1Lot Size58,109 SqFtStyleMulti-Family Dwelling (2-4)Year Built1955Year Renovated1991ZoningR3CountyPIERCEAPN0219033008

Schools near 11002 Idlewild Road Southwest

This home is within Clover Park School District.
Rating
School
Type
Grades
Distance
Idlewild Elementary School
Public - PK to 5
Hudtloff Middle School
Public - 6 to 8
Clover Park High School
Public - 9 to 12
Re-Entry Middle School
Public - 6 to 8
Rating
School
Distance
Idlewild Elementary School
PublicPK to 5

Hudtloff Middle School
Public6 to 8

Clover Park High School
Public9 to 12

Re-Entry Middle School
Public6 to 8

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

Explore Nearby Homes

More information about 11002 Idlewild Road Southwest, Lakewood, WA 98498

11002 Idlewild Road Southwest is a multi-family home for sale in Lakewood, WA 98498. This property was listed for sale on June 4, 2026 by Keller Williams Rty Tacoma, it's currently listed at $2,100,000. This listing's school district is Clover Park School District. Nearby schools include Idlewild Elementary School, Hudtloff Middle School and Clover Park High School. 11002 Idlewild Road Southwest is a 18-bed, 12-bath, 6,240 sqft multi-family home built in 1955.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims 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 discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Keller Williams Rty Tacoma

Based on information submitted to the MLS GRID as of 06/05/2026 08:42 PM. 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.