12524 Addison Street SW · Lakewood, WA 98499
Source: NWMLS · eXp Realty · Claire Fralish #NWM2508142
About this home
Priced Improved on Prime multifamily-zoned land in Lakewood’s high-growth corridor, just minutes to JBLM. This nearly shovel-ready site includes extensive pre-development work—civil site planning, survey, geotechnical analysis, landscape design, and MEP (mechanical, electrical, plumbing)/energy coordination—saving significant time and upfront costs. Strong soil conditions support efficient stormwater design, enhancing feasibility and reducing development expense. Potential eligibility for the 12-year MFTE program may further improve long-term returns (buyer to verify). Flexible opportunity for builders, investors, or developers seeking a streamlined path to a ~25-unit project in a proven rental submarket. Do NOT disturb tenants.
Location
Basics
- Property type
- Land
- Style
- Multi-Family
- Lot size
- 19,600 sq ft (0.45 acres)
- County
- Pierce
- MLS #
- NWM2508142
Interior
- Heating
- None
- Cooling
- None
Exterior & lot
- Lot features
- Dead End Street
- Topography
- Level
- Waterfront
- No
Parking
- Garage
- Yes
- Parking features
- Garage
Utilities
- Water
- On Property
- Sewer
- On Property
- Utilities
- Electricity Available
Community & fees
- Subdivision
- Lakewood
- Property tax
- $5,356 (2025)
Transaction
- Original list price
- $875,000 (8.7% price cut)
- Listed on
- Dec 23, 2025
- Days on market
- 275
- Listing terms
- Cash, Conventional, FHA, VA Loan
- Possession
- Closing, Subject To Tenant Rights
More homes nearby
Sale history
Earlier listings of this home on the MLS.
- 2025-12-23
- Active$799,000
- 2015-04-23
- Sold$100,000
- 2015-04-23
- Sold$100,000
- 2015-04-23
- Sold$100,000
Schools
School district: Lakewood
- Elementary
- Buyer To Verify
- Middle
- Buyer To Verify
- High
- Clover Park High SchoolTop 93% in WA
Listing provided courtesy of: eXp Realty
Listing agent: Claire Fralish.
Based on information submitted to the MLS GRID as of —. 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. IDX information 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. Information is deemed reliable but not guaranteed.
Data last updated 2026-09-21.