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    5408 Steilacoom Blvd SW Lakewood, WA 98499

    For Sale
    $600,000

    Bare land ready for multifamily development with utilities on site.

    Property Features for 5408 Steilacoom Blvd SW

    General Information

    Standard status
    Active

    Building Details

    Year built
    1927

    Source: NWC - KV LLC Agent DERRICK URQUHART

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Multifamily Land Opportunity

    This is a multifamily land opportunity suitable for a minimum of four units. The bare land has utilities available to the site, and curb, gutter, and sidewalk are already in place. A new multifamily development is currently in progress adjacent to the property. The location offers access to nearby amenities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Gym & Fitness Building Supply

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lakewood
    County
    Pierce
    State
    Washington
    Longitude
    -122.5099702
    Latitude
    47.176302

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    FAQs

    What type of property is this?
    Residential land & home lot - Bare land ready for multifamily development with utilities on site.
    Where is this residential land & home lot located?
    The property is located at 5408 Steilacoom Blvd SW Lakewood, WA.
    What is the asking price?
    The asking price for this property is $600,000.
    What are key features of this property?
    This property features: - Multifamily land opportunity - minimum four units; - Utilities to the site, curb/gutter/sidewalk in place; - New multifamily in progress adjacent to property
    Request Owner's contact information
    5408 Steilacoom Blvd SW Lakewood, WA 98499
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    Lakewood, WA 98499
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    5408 Steilacoom Blvd SW Lakewood, WA 98499
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