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    5226 Chicago Avenue SW Lakewood, WA 98499

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    For Sale
    $4,000,000

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

    Type:Commercial
    Added:
    Jun 17, 2025
    Days on Market:
    319
    Last Refresh:
    Apr 5 at 8:49 pm

    Property Features for 5226 Chicago Avenue SW

    General Information

    Standard status
    Active
    Property subtype
    Commercial

    Building Details

    Year Built
    1969

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    Listing Contact
    TYLER BRETZ

    Listing agent TYLER BRETZ

    Listing office URBAN COMMERCIAL PARTNERS, LLC

    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


    Overview

    Turnkey Lakewood Apartment Investment Opportunity

    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.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    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

    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.
    More about this property
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