$2,100,000
Est. $10,830/mo11002 Idlewild Road Sw, Lakewood, WA 98498
• Listed 2026-06-04•62 days on market
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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.
Listed by Matt Harber • Keller Williams Rty Tacoma
Listing updated: June 8, 2026 at 09:51am
RexMont checked: moments ago
Source: NWMLS as Distributed by MLS Grid #2535832
Open houses
No upcoming open houses scheduled for this property.
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11002 Idlewild Road Sw, Lakewood, WA 98498
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Lakewood is a seller's market.
Inventory is low and competition is high. Sellers have more negotiating power.
Offer insight: Many homes get multiple offers, some with waived contingencies.
List to sale price: The average home sells very close to list price.
Time on market: The average home goes pending in around 10 days.
$1,120,000 Sold
3 weeks ago
4 bd•2.75 ba•~3,240 sq ft•Single Family
9620 116th Street Sw, Lakewood, WA 98498
0%
Over list
—
Days on market
0.9 mi
Distance
$1,014,950 Sold
2 months ago
5 bd•2.75 ba•~2,978 sq ft•Single Family
11210 79th Avenue Ct Sw, Lakewood, WA 98498
0%
Over list
—
Days on market
0.2 mi
Distance
$369,900 Sold
2 months ago
3 bd•1.5 ba•~1,559 sq ft•Single Family
9202 Westmont Place Sw, Lakewood, WA 98498
3%
Under list
—
Days on market
0.8 mi
Distance
$475,000 Sold
3 months ago
3 bd•1.5 ba•~1,468 sq ft•Single Family
9101 112th Street Sw, Lakewood, WA 98498
3%
Over list
—
Days on market
0.6 mi
Distance
$425,000 Sold
3 months ago
3 bd•1 ba•~960 sq ft•Single Family
12004 Lake City Boulevard Sw, Lakewood, WA 98498
2%
Over list
—
Days on market
0.7 mi
Distance
Closed sales from MLS GRID / NWMLS within the past 6 months, matched on property type and within 1 mile. Comps approximate.
Want a deeper read on this market?
Ask a RexMont agentMarket data from MLS GRID / NWMLS · Updated Aug 2026
Clover Park School District
Assigned schools for this property per the listing's MLS data. School district boundaries change — verify the exact assigned schools with the district before purchasing.
