14514 Portland Ave SW

Lakewood, WA 98498

$599,950
Price
4
Beds
4
Baths
2,032 Sq. Ft.
$295 / Sq. Ft.
2,032
Sq. Ft.
$295
per Sq. Ft.

Description

Excellent cash flow investment with 4 1-bedroom units leased at $975 each per month. Two units up and two units down. Large 11,000 plus square foot fenced lot. City of Lakewood says it will support another 4-plex that can be built for additional cash flow (buyer to verify). Portland Avenue was repaved with curbs, gutters, sidewalks, and bike lane plus sewer installation. Convenient location near Harry Todd Park and American Lake. Easy access to JBLM, Madigan Hospital, and I-5 either North or South....Excellent cash flow investment with 4 1-bedroom units leased at $975 each per month. Two units up and two units down. Large 11,000 plus square foot fenced lot. City of Lakewood says it will support another 4-plex that can be built for additional cash flow (buyer to verify). Portland Avenue was repaved with curbs, gutters, sidewalks, and bike lane plus sewer installation. Convenient location near Harry Todd Park and American Lake. Easy access to JBLM, Madigan Hospital, and I-5 either North or South. Price reduced for quick sale. Great value for a 4-unit building as most are sold for $100s of thousands more.
  1. Listed by Dan Dodge • All Real Estate Solution
  2. Listed by Marcia J Bentz • All Real Estate Solution

Property Details for 14514 Portland Avenue Southwest

Community Name
American Lake
School District
Lakewood
View
Territorial
Number of Assigned Spaces
12
Total Covered Parking
0
Entry Date
03-23-2025
Energy Source
Electric
Sewer
Sewer Connected
LISTING UPDATED: 06/13/2025 04:43 PM

Property Details for 14514 Portland Avenue Southwest

StatusActive
MLS #2348546
Days on Market90
Cumulative Days on Market90
Taxes$5,188 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1935
Lot Size0.25 AC / 11,008 SF
CountyPierce County

Location

Listing Courtesy of All Real Estate Solution
Add your commute

Building Information for 14514 Portland Avenue Southwest

Stories2Residences4Year Built1935Building Size-Lot Size0.25 AC / 11,008 SF

Payment Calculator

$3,576 per month

30 year fixed, 6.845% Interest

Principal and Interest

$3,143

Property Taxes

$432

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 14514 Portland Avenue Southwest

Summary
Location and General Information
  • Style: 54 - 4-Plex
  • Site Features: Fenced-Fully, Outbuildings, RV Parking
  • Area: 41 - Lakewood/Tillicum
  • Elementary School: Buyer To Verify
  • Middle Or Junior School: Buyer To Verify
  • High School: Buyer To Verify
  • Directions: West on Berkley to Portland Avenue. Right on Portland to subject property on left side.
  • Leased Items: None
  • Property Sub Type: Multi Family
  • View: Yes
  • Waterfront: No
Taxes and HOA Information
  • Tax Year: 2025
Parking
  • Number of Carport Spaces: 0.0
  • Carport: No
  • Parking Type: RV Parking
  • Open Parking Spaces: 12.0
  • Open Parking: Yes
  • Parking Features: RV Parking
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: 0
Interior Features
  • Fireplaces Total: 0
  • Floor Covering: Vinyl, Carpet
  • Amenities: Storage,Thermal Windows
  • Cooling: No
  • Cooling: None
  • Fireplace: No
  • Heating: Yes
  • Heating: Baseboard
  • FIRPTA: No
Exterior Features
  • Exterior: Wood Products
  • Roof: Composition
  • Security Features: Fully Fenced
Property
Utilities
  • Water Source: Public
  • Water/Sewer/Garbage: 5423
  • Power Company: PSE
  • Sewer Company: Pierce County
  • Water Company: Lakewood
  • Power Production Type: Electric
Property and Assessments
  • New Construction YN: No
  • Zoning Jurisdiction: City
  • Foundation: Poured Concrete
  • Zoning Remarks: Multi-Family
  • First Right Of Refusal: false
  • Possible Use: Multi-Family
  • MLS Square Footage Source: Public Records
  • Preliminary Title Ordered: Yes
  • Senior Community: No
  • Special Listing Conditions: None
  • Photos Count: 6
Lot Information
  • Lot Details: Curbs, Paved, Sidewalk, Value In Land
  • Lot Size Source: Public Records
  • Parcel Number Free Text: 2200003263
  • Building Condition: Good
  • Calculated Square Footage: 2032
  • Structure Type: Quadruplex
  • Square Footage Finished: 0
  • Square Footage Unfinished: 0
  • Building Area Total: 2032.0
  • Building Area Units: Square Feet
  • Property Type: Residential Income
  • Elevation Units: Feet
  • Irrigation Water Rights: No
  • Green Energy Efficient: Thermal Windows
Multi Family
Building Details
  • Number of Uncovered Spaces: 12
  • Number of Stories in Building: 2
  • Vacancy Rate: 5
  • Number Of Units Total: 4
  • Units Below Grade: false
  • Units In Building Total: 4
Financing / Income and Expenses
  • Electric Expense: $0
  • Total Expenses: 12596
  • Gross Adjusted Income: 44460
  • Gross Rent Multiplier: 14.62
  • Gross Scheduled Income: $46,800
  • Insurance Expense: $1,138
  • Net Operating Income: $31,864
  • Other Expenses: $394
  • Total Monthly Income: 3900
  • Fuel Expense: $453
Unit 1
  • Name Unit 1: A
  • Range/Oven Unit 1: true
  • Refrigerator Unit 1: true
  • Square Feet Unit 1: 500
  • Rent Unit 1: $975.00
  • Bedrooms Unit 1: 1
  • Bathrooms Unit 1: 1
Unit 2
  • Name Unit 2: B
  • Range/Oven Unit 2: true
  • Refrigerator Unit 2: true
  • Square Feet Unit 2: 500
  • Rent Unit 2: $975.00
  • Bedrooms Unit 2: 1
  • Bathrooms Unit 2: 1
Unit 3
  • Name Unit 3: C
  • Range/Oven Unit 3: true
  • Refrigerator Unit 3: true
  • Square Feet Unit 3: 500
  • Rent Unit 3: $975.00
  • Bedrooms Unit 3: 1
  • Bathrooms Unit 3: 1
Unit 4
  • Name Unit 4: D
  • Range/Oven Unit 4: true
  • Refrigerator Unit 4: true
  • Square Feet Unit 4: 500
  • Rent Unit 4: $975.00
  • Bedrooms Unit 4: 1
  • Bathrooms Unit 4: 1
Rental
Rent Information
  • Occupant Type: Tenant
  • Leasable Area: 2032.0
  • Leasable Area Units: Square Feet

Property History for 14514 Portland Avenue Southwest

DateEvent & SourcePriceAppreciation
Jun 13, 2025

Price Change

NWMLS #2348546

$599,950—
May 31, 2025

Price Change

NWMLS #2348546

$609,950—
May 19, 2025

Price Change

NWMLS #2348546

$619,950—
May 4, 2025

Price Change

NWMLS #2348546

$629,950—
Apr 19, 2025

Price Change

NWMLS #2348546

$639,950—
Mar 23, 2025

Listed (Active)

NWMLS #2348546

$649,950—
Jul 16, 2003

Sold (Public Record)

Public Record #116151382

$145,425

-1.1% / yr

Dec 20, 2001

Sold (Public Record)

Public Record #82461419

$148,000—
DateEvent & SourcePrice
06/13/2025

Price Change

NWMLS #2348546

$599,950
05/31/2025

Price Change

NWMLS #2348546

$609,950
05/19/2025

Price Change

NWMLS #2348546

$619,950
05/04/2025

Price Change

NWMLS #2348546

$629,950
04/19/2025

Price Change

NWMLS #2348546

$639,950
03/23/2025

Listed (Active)

NWMLS #2348546

$649,950
07/16/2003

Sold (Public Record)

Public Record #116151382

$145,425

-1.1% / yr

12/20/2001

Sold (Public Record)

Public Record #82461419

$148,000

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

Public Records for 14514 Portland Avenue Southwest

Taxable ValueLand$171,000Additions$286,100Total$457,100
Tax Record2025$5,188 ($432 / month)
Home Facts
Total Finished SqFt2,032 SqFtAbove Ground SqFt1,016 SqFtFinished Basement SqFt1,016 SqFtStories1Lot Size11,008 SqFtStyleMulti-Family Res (5+ Units)Year Built1935Year Renovated1966ZoningMF2CountyPIERCEAPN2200003263

Schools near 14514 Portland Avenue 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 - 6 to 8
Rating
School
Distance
Tillicum Elementary School
PublicPK to 5

Woodbrook 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.

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14514 Portland Avenue Southwest is a multi-family home for sale in Lakewood, WA 98498. This property was listed for sale on March 23, 2025 by All Real Estate Solution, it's currently listed at $599,950. It has been on the market for a total of 90 days and was last sold on July 16, 2003. This listing's school district is Clover Park School District. Nearby schools include Tillicum Elementary School, Woodbrook Middle School and Clover Park High School. 14514 Portland Avenue Southwest is a 4-bed, 4-bath, 2,032 sqft multi-family home built in 1935.

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 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 All Real Estate Solution

Properties displayed may be listed or sold by various participants in the MLS. Based on information submitted to the MLS GRID as of 06/21/2025 11:03 PM. All data is obtained from various sources and may not have been verified by broker orMLS GRID. Supplied Open House Information is subject to change without notice. All informationshould be independently reviewed and verified for accuracy. Properties may or may not be listed bythe office/agent presenting the information.