Eight-Unit Duplex
For Sale
$3,180,000
5702 5708 79th Street W A & B, Lakewood, WA 98499
Single-story rental buildings feature open living areas, upgraded kitchens, private primary baths, and dedicated parking.
Property Size8,564 SF
Price / SF$371.32
Days on Market24
Property Features for 5702 5708 79th Street W A & B
General Information
Standard status
Active
Size
8,564 SF
Property subtype
Multi-Family
Building Details
Year Built
2023
Listing Agency:
Harvest Realty, Inc
(253) 380-0996
Listed By:
Rick A. Gienger
Source:
Montgomeryht
Added: Aug 7
Changed: Aug 29
Last Checked: Aug 25 at 5:12AM
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 Harvest Realty, Inc
Investment Insights
Based on property information with market context.
Christine Estates is an eight-unit residential income property arranged across four matching duplex buildings. The 8,564-square-foot project was built in 2023, with each single-story residence offering vaulted ceilings in the main living area, an open floor plan, an upgraded kitchen, stainless steel appliances, quartz countertops, a large island with eating bar, and a five-foot pantry. Primary suites include private full baths, while ductless heat pumps and Cadet wall heaters serve the residences. Unit sizes are 1,065 square feet on the left side of each duplex and 1,076 square feet on the right.
Each residence includes a single-car garage and two uncovered on-site parking spaces. Additional guest parking is supported by newly paved street parking with vertical curbs and sidewalks. Irrigated front lawns and landscaping distinguish the two driveways serving each duplex. The property is located at 5702 5708 79th Street W A & B, Lakewood, WA 98499, within 10-15 minutes of JBLM and near shopping, schools, eateries, theaters, and medical services including St Claire's Hospital.
Each residence includes a single-car garage and two uncovered on-site parking spaces. Additional guest parking is supported by newly paved street parking with vertical curbs and sidewalks. Irrigated front lawns and landscaping distinguish the two driveways serving each duplex. The property is located at 5702 5708 79th Street W A & B, Lakewood, WA 98499, within 10-15 minutes of JBLM and near shopping, schools, eateries, theaters, and medical services including St Claire's Hospital.
Key Highlights
- Four duplex buildings totaling 8 units
- 8,564‑square‑foot property built in 2023
- Each unit includes a single‑car garage and 2 uncovered onsite parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$112,359
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.53%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,247,180
$2.2M
Cap Rate 7%
$1,605,129
$1.6M
Cap Rate 9%
$1,248,433
$1.2M
Market Conditions
NOI Build-Up for 8,564 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$172.7K $20.16/SF
− Vacancy
−$12.1K −$1.42/SF
EGI
$160.5K $18.74/SF
− OpEx
−$48.2K −$5.62/SF
NOI
$112.4K $13.12/SF
Area
Pierce County, WA
Vacancy
7.03%
Lease Rate
$20.16 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,247,180
Cap Rate 7%
$1,605,129
Cap Rate 9%
$1,248,433
Alternative Uses
Best Use
Multifamily LT 5
$1.61M
$1.40M – $1.87M
NOI $112,359 @ 7.0% cap · market cap 3.53%
Second Best
Apartment 5plus
$1.48M
$1.30M – $1.73M
NOI $103,633 @ 7.0% cap · market cap 3.26%
Theoretical Best
Office A
$2.31M
$2.02M – $2.70M
NOI $161,913 @ 7.0% cap · market cap 5.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
535
Businesses Nearby
Explore this area
Business Placement
Demographics for 98499, WA
33,188
Population
14,683
Households
2.3
Avg Household Size
35
Median Age
19%
College-Educated
85%
High-School Grad
8.8 sq mi
ZIP Area
3,771
Density / Sq Mi
$65,000
Median Household Income
$41,345
Median Earnings
$1,445
Median Rent
$370,000
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Single-story rental buildings feature open living areas, upgraded kitchens, private primary baths, and dedicated parking.
Where is this duplex located?
The property is located at 5702 5708 79th Street W A & B Lakewood, WA.
What is the asking price?
The asking price for this property is $3,180,000.
What are key features of this property?
This property features: Four duplex buildings totaling 8 units; 8,564‑square‑foot property built in 2023; Each unit includes a single‑car garage and 2 uncovered onsite parking spaces
