Sold
Last Sold Price
8,390 sqft

8603 Phillips Rd SW, Lakewood, WA 98498

Multi FamilyProperty Type
1.13 acresLot Size
1965Year Built
$87/sq ftPrice per sq ft
5 carsParking Spaces

Description

Located on the north side of Lake Steilacoom. Very well maintained property with a strong tenant base, high occupancy and great Oakbrook location. The complex was built in an intimate cottage setting on 1.13 acres above a bluff overlooking Chambers Creek. 4 garages currently being rented out as storage units. Huge units, with a great mix of (2) huge 3 bedroom units, (3) large 2 bedroom units (5) one bedroom units. Attractive financing available. 8% Cap Rate on current numbers.Located on the north side of Lake Steilacoom. Very well maintained property with a strong tenant base, high occupancy and great Oakbrook location. The complex was built in an intimate cottage setting on 1.13 acres above a bluff overlooking Chambers Creek. 4 garages currently being rented out as storage units. Huge units, with a great mix of (2) huge 3 bedroom units, (3) large 2 bedroom units (5) one bedroom units. Attractive financing available. 8% Cap Rate on current numbers.
  • Listed by: Tyler Smith 206.505.9400 tsmith@northmarq.com • Westlake Associates, Inc.
Listing closed: 02/16/2010 12:00 AM • Source: NWMLS as distributed by MLS GRID, MLS#: 29074605
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Recent comparable sales

Median sold price

$805,000

Avg days on market

110

Sale-to-list ratio

90.7%

Lakewood, WA

9 comparable properties found

1

$1,049,000

Sold 08/06/26

Unavailable
Bedrooms
Unavailable
Bathrooms
7,500
Square Feet
0.55
Acres
2

$1,855,000

Sold 10/08/25

Unavailable
Bedrooms
Unavailable
Bathrooms
7,296
Square Feet
0.72
Acres
3

$1,400,000

Sold 08/20/26

Unavailable
Bedrooms
Unavailable
Bathrooms
7,362
Square Feet
0.93
Acres
4

$2,050,000

Sold 11/18/24

Unavailable
Bedrooms
Unavailable
Bathrooms
9,058
Square Feet
0.51
Acres
5

$750,000

Sold 09/11/26

Unavailable
Bedrooms
Unavailable
Bathrooms
6,400
Square Feet
Unavailable
Acres
6

$805,000

Sold 08/03/26

Unavailable
Bedrooms
Unavailable
Bathrooms
4,940
Square Feet
0.34
Acres
a house with trees in the background
1/26
7

$679,950

Sold 12/03/24

Unavailable
Bedrooms
Unavailable
Bathrooms
3,136
Square Feet
0.31
Acres
8

$175,000

Sold 01/02/26

Unavailable
Bedrooms
Unavailable
Bathrooms
Unavailable
Square Feet
0.14
Acres
9

$175,000

Sold 01/02/26

Unavailable
Bedrooms
Unavailable
Bathrooms
Unavailable
Square Feet
0.19
Acres

Location

Listing Courtesy of Westlake Associates, Inc.
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Property Information for 8603 Phillips Road Southwest

Property Details

  • Taxes: $8,875 / year
  • MLS Type: Residential Income
  • Community Name: Lakewood
  • School District: Lakewood
  • Number of Assigned Spaces: 5
  • Total Covered Parking: 5
  • Entry Date: 05-20-2009

Building Information

  • Stories: 2
  • Residences: 6
  • Year Built: 1965
  • Lot Size: 1.13 AC / 49,223 SF

Summary

Location and General Information
  • Style: 55 - 5-9 Units
  • Area: 38 - Lakewood
  • Directions: From I 5 take Exit 129.Head East on S 74th Street.S 74th runs into Custer, remain on Custer heading SW.Turn West onto 88th Street SW.Turn N onto Phillips RD SW.Property is on the eastside of Phillips.
  • Leased Items: Water Tank
  • Property Sub Type: MULT
  • View: No
  • Waterfront: No
Taxes and HOA Information
  • Tax Year: 2008
Parking
  • Number of Carport Spaces: 0.0
  • Carport: No
  • Open Parking Spaces: 0.0
  • Open Parking: No

Interior and Exterior Features

Bedroom Information
  • Bedrooms Possible: 0
Interior Features
  • Furnished: Unfurnished
  • Floor Covering: Hardwood, Carpet
  • Features: Forced Air, Hardwood, Wall to Wall Carpet
  • Fireplace: No
  • Heating: Yes

Property

Utilities
  • Water/Sewer/Garbage: 4689
  • Power Production Type: Electric
  • Utilities: Electric
Property and Assessments
  • Zoning Class: Multi-Family
  • Possible Use: Multi-Family
  • Preliminary Title Ordered: No
  • Special Listing Conditions: None
  • Photos Count: 1
Lot Information
  • Parcel Number Free Text: 0220341131
  • Building Condition: Good
  • Calculated Square Footage: 8390
  • Structure Type: Multi Family
  • Square Footage Finished: 0
  • Square Footage Unfinished: 0
  • Building Area Total: 8390.0
  • Building Area Units: Square Feet
  • Property Type: Residential Income
  • Elevation Units: Feet
  • Irrigation Water Rights: No

Multi Family

Building Details
  • Number of Uncovered Spaces: 0
  • Number of Stories in Building: 2
  • Vacancy Rate: 5
  • Number Of Units Total: 6
  • Units Below Grade: false
  • Units In Building Total: 9
Financing / Income and Expenses
  • Electric Expense: $0
  • Total Expenses: 31398
  • Gross Adjusted Income: 94620
  • Gross Rent Multiplier: 7
  • Gross Scheduled Income: $99,600
  • Insurance Expense: $2,539
  • Net Operating Income: $63,222
  • Other Expenses: $15,295
  • Total Monthly Income: 8300
  • Fuel Expense: $0

Rental

Rent Information
  • Leasable Area: 8390.0
  • Leasable Area Units: Square Feet

Property History for 8603 Phillips Road Southwest

DateEvent & SourcePriceAppreciation
Feb 16, 2010

Sold

NWMLS #29074605

$730,000—
Jul 10, 2009

Pending

NWMLS #29074605

—
May 20, 2009

Listed (Active)

NWMLS #29074605

$795,000—
DateEvent & SourcePrice
02/16/2010

Sold

NWMLS #29074605

$730,000
07/10/2009

Pending

NWMLS #29074605

—
05/20/2009

Listed (Active)

NWMLS #29074605

$795,000

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

Public records

8603 Phillips Road Southwest

Baths

4

Total Finished SqFt

4,828 SqFt

Above Ground SqFt

3,960 SqFt

Finished Basement SqFt

868 SqFt

Stories

1

Lot Size

26,400 SqFt

Schools near 8603 Phillips Road Southwest

This home is within Clover Park School District.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - 6 to 8
Public - 9 to 12
Public - 5 to 12
Rating
School
Distance
Custer Elementary School
PublicPK to 5

Hudtloff Middle School
Public6 to 8

Lakes High School
Public9 to 12

Transition Day Students
Public5 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.

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Nearby home values

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.

Listing Courtesy of Westlake Associates, Inc.

Based on information submitted to the MLS GRID as of 09/05/2024 05:18 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.