5226 Chicago Avenue SW, Lakewood, WA 98499

Building Details

Year Built

1969

Listing agent TYLER BRETZ

Listing office URBAN COMMERCIAL PARTNERS, LLC t***@urbanseattle.com

Listing date Jun 17, 2025

Source Corcoran

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

All listing content including descriptions, pricing, images are the copyrighted material of URBAN COMMERCIAL PARTNERS, LLC

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Overview

Grand Cedars Apartments presents a turnkey investment opportunity located in the Springbrook neighborhood of Lakewood. This 29-unit apartment community is offered as a standout investment. The property has a strong in-place Cap Rate of 6.65% and compelling year-one cash flow. Each unit has been upgraded with new countertops, flooring, cabinets, water heaters, and appliances. Investors can maximize returns by bringing all units up to market rents, unlocking additional revenue potential. The renovated units provide modern, high-quality living spaces that attract and retain tenants. The property is competitively priced below similarly renovated sale comparables.

Suggested Use

Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

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

Location Insight

• Map
• Local Demand

City

Lakewood

County

Pierce

State

Washington

Longitude

-122.507

Latitude

47.1404

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FAQs

What type of property is this?

Apartment building - 29-unit apartment community in Lakewood's Springbrook neighborhood.

Where is this apartment building located?

The property is located at 5226 Chicago Avenue SW Lakewood, WA.

What is the asking price?

The asking price for this property is $4,000,000.

What are key features of this property?

This property features: Turnkey investment opportunity with a strong in‑place Cap Rate of 6.65%.; Units have been expertly upgraded with new countertops, flooring, cabinets, water heaters, and appliances.; Priced at $137,931 per unit, competitively priced below similarly renovated sale comparables.