8604 Terrace Road Southwest
8604 Terrace Road Southwest
Lakewood, WA 98498
$649,950
Price
5
Beds
3
Baths
2,604 Sq. Ft.
$250 / Sq. Ft.
2,604
Sq. Ft.
$250
per Sq. Ft.
Virtual Tour
Virtual Tour
Listing provided courtesy of Redfin
Description
Don't miss this prime investment opportunity in the heart of Lakewood! Unit #8602, a 2-bed, 1-bath, is recently updated with newer granite countertops, cabinets, windows, interior/exterior paint, and bathroom upgrades. The 954 sf garage has been converted into a third unit featuring 1 bed, 1 bath, a kitchen, and an upgraded bathroom, presenting an excellent opportunity for additional rental income. #8604, a 2-bed, 1-bath, has updates with newer granite countertops and more. The property includes...Don't miss this prime investment opportunity in the heart of Lakewood! Unit #8602, a 2-bed, 1-bath, is recently updated with newer granite countertops, cabinets, windows, interior/exterior paint, and bathroom upgrades. The 954 sf garage has been converted into a third unit featuring 1 bed, 1 bath, a kitchen, and an upgraded bathroom, presenting an excellent opportunity for additional rental income. #8604, a 2-bed, 1-bath, has updates with newer granite countertops and more. The property includes an expansive fenced backyard with two storage units: one of them is insulated and heated, suitable for an office or possible extra bedroom. You'll find RV parking in the backyard & potential for an ADU up to 1000sf. Buyer to verify all information.
- Listed by Macartney McQuery • Redfin
Property Details for 8604 Terrace Road Southwest
Community Name
Lakewood
School DistrictClover Park
ViewTerritorial
Number of Assigned Spaces6
Total Covered Parking1
Entry Date02-21-2024
Energy SourceElectric
SewerSewer Connected
Location
Listing Courtesy of Redfin![]()
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LISTING UPDATED: 04/11/2024 08:54 AM
Property Details for 8604 Terrace Road Southwest
| Status | Active |
|---|---|
| MLS # | 2202235 |
| Days on Market | 72 |
| Cumulative Days on Market | 142 |
| Taxes | $5,029 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1958 |
| Lot Size | 0.25 AC / 10,675 SF |
| County | Pierce County |
Location
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Building Information for 8604 Terrace Road Southwest
Stories1Residences3Year Built1958Building Size-Lot Size0.25 AC / 10,675 SF
Payment Calculator
$3,966 per month
30 year fixed, 7.25% Interest
Principal and Interest
$3,547
Property Taxes
$419
HOA Dues
$0
The Payment Calculator is for illustrative purposes only.
Property Information for 8604 Terrace Road Southwest
Summary
Location and General Information
- Style: 53 - Tri-plex
- Site Features: Boat House, Cable TV, Fenced-Fully, High Speed Internet, RV Parking, Shop
- Area: 38 - Lakewood
- Elementary School: Buyer To Verify
- Middle Or Junior School: Buyer To Verify
- High School: Buyer To Verify
- Directions: From I-5, take Bridgeport Way exit heading west, left on Steilacoom Blvd, continue onto Ardmore, slight left at 88th, continue onto Steilacoom Blvd, left on Terrace Rd, home on right
- Leased Items: None
- Property Sub Type: MULT
- View: Yes
- Waterfront: No
Taxes and HOA Information
- Tax Year: 2023
Parking
- Number of Carport Spaces: 2.0
- Carport: No
- Parking Type: RV Parking
- Open Parking Spaces: 3.0
- Open Parking: Yes
- Parking Features: RV Parking
Virtual Tour
- Virtual Tour URL Unbranded: https://my.matterport.com/show/?m=ayyahgE7B4y&mls=1
- Virtual Tour URL Description: Unit 1 Scan
- Virtual Tour URL Unbranded2: https://my.matterport.com/show/?m=m5iBkN8QsiN&mls=1
- Virtual Tour URL Description2: Unit 2 Scan
- Virtual Tour URL Unbranded3: https://my.matterport.com/show/?m=cN9fLiifWvB&mls=1
- Virtual Tour URL Description3: Unit 3 Scan
Interior and Exterior Features
Interior Features
- Floor Covering: Hardwood, Laminate, Vinyl Plank, Carpet
- Features: Hardwood, Laminate, Wall to Wall Carpet
- Cooling: No
- Cooling: None
- Fireplace: No
- Heating: Yes
- Heating: Baseboard, Forced Air
- FIRPTA: No
Exterior Features
- Exterior: Brick, Cement/Concrete
- Roof: Composition
- Security Features: PartiallyFenced
Property
Utilities
- Water Source: Public
- Water/Sewer/Garbage: 2572
- Power Production Type: Electric
Property and Assessments
- New Construction YN: No
- Foundation: Poured Concrete
- Zoning Class: Multi-Family,Residential
- First Right Of Refusal: false
- Possible Use: Multi-Family, Residential
- MLS Square Footage Source: Realist - Buyer to Verify
- Preliminary Title Ordered: Yes
- Senior Community: No
- Special Listing Conditions: None
- Photos Count: 40
Lot Information
- Lot Details: Paved
- Lot Size Source: Realist - Buyer to Verify
- Parcel Number Free Text: 0220331026
- Building Condition: Very Good
- Calculated Square Footage: 2604
- Structure Type: Triplex
- Square Footage Finished: 0
- Square Footage Unfinished: 0
- Building Area Total: 2604.0
- Building Area Units: Square Feet
- Property Type: Residential Income
- Elevation Units: Feet
- Irrigation Water Rights: No
Multi Family
Building Details
- Number of Uncovered Spaces: 3
- Number of Stories in Building: 1
- Vacancy Rate: 0
- Number Of Units Total: 3
- Units Below Grade: false
- Units In Building Total: 3
Financing / Income and Expenses
- Electric Expense: $1,450
- Total Expenses: 10121
- Gross Adjusted Income: 35771
- Gross Rent Multiplier: 15.93
- Gross Scheduled Income: $40,800
- Insurance Expense: $1,070
- Net Operating Income: $25,650
- Other Expenses: $0
- Total Monthly Income: 3400
- Fuel Expense: $0
Unit 1
- Name Unit 1: 8604
- Washer/Dryer Unit 1: true
- Range/Oven Unit 1: true
- Refrigerator Unit 1: true
- Dishwasher Unit 1: true
- Square Feet Unit 1: 825
- Rent Unit 1: $1,600.00
- Bedrooms Unit 1: 2
- Fireplaces Unit 1: 0
- Bathrooms Unit 1: 1
Unit 2
- Name Unit 2: 8602
- Washer/Dryer Unit 2: true
- Range/Oven Unit 2: true
- Refrigerator Unit 2: true
- Dishwasher Unit 2: true
- Square Feet Unit 2: 825
- Rent Unit 2: $1,800.00
- Bedrooms Unit 2: 2
- Fireplaces Unit 2: 0
- Bathrooms Unit 2: 1
Unit 3
- Name Unit 3: 3
- Range/Oven Unit 3: true
- Square Feet Unit 3: 954
- Rent Unit 3: $.00
- Bedrooms Unit 3: 1
- Fireplaces Unit 3: 0
- Bathrooms Unit 3: 1
Rental
Rent Information
- Occupant Type: Tenant
- Leasable Area: 1650.0
- Leasable Area Units: Square Feet
Property History for 8604 Terrace Road Southwest
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 8604 Terrace Road Southwest
Taxable ValueLand$107,500Additions$173,400Total$280,900
Tax Record2018$3,393 ($283 / month)
Home Facts
Beds4Above Ground SqFt1,650 SqFtStories1Lot Size10,675 SqFtStyleDuplexYear Built1958Year Renovated1977ZoningR4CountyPIERCEAPN0220331026
Schools near 8604 Terrace 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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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. No financial or legal advice provided. Equal Housing Opportunity.
Listing Courtesy of Redfin
Listing provided courtesy of NWMLS, RMLS or Yakima MLS. The information contained in this listing has not been verified by Compass or the MLS and should be verified by the buyer. The DOM value represents the number of days this listing has been Active on this website.