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$799,000 -$76,000 (-8.69%) Price Reduced

  • For Sale
  • Active
  • Multi-Family
  • Updated 6 hours ago

Listed by Claire Michelle Fralish | eXp Realty | (888) 317-5197 and Perdana J Daud | eXp Realty | (888) 317-5197

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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.

Full Property Details for 12524 Addison St SW

General

  • Price: $799,000
  • Taxes: $5,356 (2025)
  • Status: Active
  • Type: Multi-Family
  • Source: NWMLS
  • MLS ID: 2508142
  • Updated: 4/15/2026
  • Added to Site: 114 day(s) ago

Additional Information

  • Improvements: Dwelling, Fenced-Fully, Garage

Parking

  • Garage: Yes
  • Parking Features: Garage

Location

  • Area: 37 - Lakewood
  • County: Pierce
  • Subdivision: Lakewood
  • Driving Directions: From I-5 Exit 123, west on Thorne Ln SW, left on Union Ave SW, right on Lakeview Ave SW, left on Addison St SW. Property is on the left.

School Information

  • High School District: Lakewood
  • Elementary School: Buyer To Verify
  • Middle School: Buyer To Verify
  • High School: Buyer To Verify

Utilities

  • Sewer: On Property
  • Water: On Property
  • Utility Description: Electricity Available

Structural Information

  • Structure Type: Multi Family

Lot Features

  • Lot Size (Acres): 0.45
  • Lot Size (Sq. Ft.): 19,600
  • Lot Size Source: Realist
  • Lot Dimensions: 19600
  • Street/Road Desc.: Paved
  • Topography: Level
  • Lot Features: Dead End Street
  • Zoning: Multi-Family

Financial Considerations

  • Tax Amount: $5,356
  • Tax Year: 2025
  • Terms: Cash, Conventional, FHA, VA Loan

Disclosures and Reports

  • Special Conditions: None
  • Property ID: 219123092

Listed by Claire Michelle Fralish | eXp Realty | (888) 317-5197 and Perdana J Daud | eXp Realty | (888) 317-5197

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Schools serving 12524 Addison St SW

School District:Clover Park School District
NameGradesDistance
Tyee Park Elementary School
11920 Seminole Road Southwest, Lakewood, WA 98499
K-50.5 mi
Harrison Preparatory School
9103 Lakewood Drive Southwest, Lakewood, WA 98499
6-122.2 mi
Lochburn Middle School
5431 Steilacoom Boulevard Southwest, Lakewood, WA 98499
6-82.5 mi
Clover Park High School
11023 Gravelly LK DR SW, Lakewood, WA 98499
9-121.3 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 12524 Addison St SW Get Price Alerts and Save Property

Date
Details
Price
Change
Source
4/15/2026
Price Reduced
$799,000
-8.69%
MLS
12/23/2025
Listed
$875,000
98.41%
MLS
2/28/2024
Sold
$441,000
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 12524 Addison St SW

Year
Property Taxes
Change
Tax Assessment
Change
2025
$5,356
10%
$464,100
6%
2024
$4,873
4%
$438,500
-1%
2023
$4,706
4%
$441,900
18%
2022
$4,514
7%
$374,700
19%
2021
$4,217
12%
$313,600
17%
2020
$3,769
23%
$269,000
9%
2018
$3,062
—
$247,300
23%
2018
$3,062
4%
$200,800
8%
2017
$2,952
16%
$186,300
18%
2016
$2,535
17%
$157,400
21%
2015
$2,172
4%
$130,000
8%
2014
$2,088
—
$120,100
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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Listed by Claire Michelle Fralish | eXp Realty | (888) 317-5197 and Perdana J Daud | eXp Realty | (888) 317-5197

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12524 Addison Street SW, Lakewood, WA 98499 (MLS# 2508142) is a Multi-Family property with a lot size of 0.45 acres. 12524 Addison Street SW is currently listed for $799,000 and was received on December 23, 2025. Want to learn more about 12524 Addison Street SW? Do you have questions about finding other Multi-Family real estate for sale in Lakewood? You can browse all Lakewood real estate or contact a Coldwell Banker agent to request more information.

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