Four-Duplex Residential Income
5702 79TH Unit A & B Lakewood, WA 98499
For Sale
$3,180,000
Four identical one-story duplexes totaling eight units feature vaulted ceilings and modern kitchen upgrades.
Property Size8,564 SF
Price / SF$371.32
Days on Market278
Property Features for 5702 79TH Unit 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
Listed By:
Rick A. Gienger
(253) 564-6211
Source:
Century21northhomes
Added: Oct 20, 2025
Changed: Jul 19
Last Checked: Jul 23 at 8:44AM
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.
Christina Estates is a residential income property consisting of four identical duplexes, offering a total of eight units. Each duplex is one story and includes vaulted ceilings in the main living areas, along with upgraded kitchen finishes such as upgraded cabinets, stainless steel appliances, quartz countertops, a large island with eating bar, and a 5-foot pantry. Units also feature a large primary suite with a private full bath. Heating and cooling are provided by ductless heat pumps, with additional Cadet wall heaters in the bedrooms.
Each unit includes a single-car garage, plus two uncovered on-site parking spaces per unit. The property also includes new paved street parking with vertical curbs and sidewalks for guest parking, and landscaped, irrigated front yard areas separated by driveways.
The duplexes are approximately three years old, and during that time only two units have turned over tenancy. The project is located 10–15 minutes from JBLM and near shopping, schools, eateries, theaters, and medical services including St. Claire’s Hospital.
Each unit includes a single-car garage, plus two uncovered on-site parking spaces per unit. The property also includes new paved street parking with vertical curbs and sidewalks for guest parking, and landscaped, irrigated front yard areas separated by driveways.
The duplexes are approximately three years old, and during that time only two units have turned over tenancy. The project is located 10–15 minutes from JBLM and near shopping, schools, eateries, theaters, and medical services including St. Claire’s Hospital.
Key Highlights
- Christine Estates: 4 identical, one‑story duplexes (8 units) built in 2023
- Front units offer 1,065 SF (left) and 1,076 SF (right) with vaulted ceilings in main living areas
- Modern kitchens with upgraded cabinets, stainless steel appliances, quartz countertops, large island eating bar, and 5‑foot pantry
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $203.5k | $23.76 |
| − Vacancy | −$15.1k | −$1.76 |
| EGI | $188.4k | $22.00 |
| − OpEx | −$84.8k | −$9.90 |
| NOI | $103.6k | $12.10 |
8,564 SF · lease $23.76/SF/yr · vacancy 7.40% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.48M
$1.30M – $1.73M
NOI $103,633 @ 7.0% cap · market cap 3.26%
Second Best
—
—
no second resolved use
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Four identical one-story duplexes totaling eight units feature vaulted ceilings and modern kitchen upgrades.
Where is this apartment building located?
The property is located at 5702 79TH Unit 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: Christine Estates: 4 identical, one‑story duplexes (8 units) built in 2023; Front units offer 1,065 SF (left) and 1,076 SF (right) with vaulted ceilings in main living areas; Modern kitchens with upgraded cabinets, stainless steel appliances, quartz countertops, large island eating bar, and 5‑foot pantry
