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12524 Addison St SW
Lakewood, WA 98499 Pacific

$875,000 USD

Land For Sale  •  0.46 AC

Property Details

  • Property Type Land
  • Lot Size 0.46 AC
  • Zoning Multi-family, Residential
30 Transit Score
50 Walk Score

Description

APARTMENTS: TECHNICAL SPECIFICATIONS & SITE UTILITY

SITE OVERVIEW: Rectangular, level .45-acre site in the heart of Lakewood’s high-density core. The property is currently improved with two income-generating residences ($3,700/mo) but has been fully engineered for a 25-unit multifamily community.

STORM WATER & GEOTECHNICAL: Verified by 2021 Geotechnical Investigation (GeoConsult). The site consists of native Continental Glacial Outwash.
•	Infiltration Rate: 20.0 inches per hour (Design Rate).
•	Engineering Advantage: High permeability allows for low-impact, low-cost drywell systems, eliminating the need for expensive detention vaults.

MECHANICAL & ENERGY PERFORMANCE: The project includes a complete design.
•	Efficiency: Designed to exceed 2021 Washington State Energy Code requirements.
•	HVAC: Includes dedicated ERV (Energy Recovery Ventilation) systems for superior indoor air quality and tenant comfort—a major "Class A" differentiator in the Lakewood submarket.

ELECTRICAL DESIGN: Complete electrical engineering set is included.
•	Load Calcs: Full demand load calculations for 25 units.
•	Infrastructure: Riser diagrams and transformer coordination are ready for utility submittal.

LOCATION & AMENITIES (98499 CORE):
•	Commuter Access: 0.25 miles to I-5; 1.0 mile to McChord Field Visitor Center (JBLM Gate).
•	Lifestyle: 0.5 miles to Lakewood Towne Center (Target, Safeway, AMC).
•	Recreation: 0.1 miles to Springbrook Park (Basketball, Playground, Community Garden).

DELIVERABLES INCLUDED IN SALE:
1.	Professional 45-Page Appraisal Report (2021)
2.	Full Architectural & Engineering (MEP) Construction Sets (PDF)
3.	Landscape & Arborist Plans (City Approved Concept)
4.	Topographic & Boundary Survey
5.	Civil Engineering / Site Grading Plans

Highlights

$35k/Door Development Land Priced at a competitive $35,000 per unit based on a high-density 25-unit multifamily concept.
20 in/hr Drainage Native glacial gravel allows for low-cost drywells vs. expensive vaults.
2-Yr MFTE Eligible Confirmed eligibility for a 12-year tax exemption in a target area.
$3.7k Carry Income Current tenant-occupied buildings offset costs during permitting.

Property Flyers

Public Transportation

Commuter RailDriveWalkDistance
Lakewood Station (Seattle - Tacoma/Lakewood - Sound Transit) 3 min 19 min 1.0 mi
South Tacoma Station (Seattle - Tacoma/Lakewood - Sound Transit) 9 min - 5.1 mi
AirportDriveWalkDistance
Seattle-Tacoma International 44 min - 29.4 mi
Claire Fralish 253-230-2567 eXp Realty
Claire Fralish 253-230-2567 eXp Realty