**ALERT** Investment Opportunity in the heart of Lakewood! This well-maintained 8-plex - 100% occupancy with a strong rental history and consistently low vacancy rates. Several units have been thoughtfully updated over time, featuring modern kitchen cabinetry, refreshed bathrooms, updated flooring, and newer water heaters, helping minimize future capital expenditures while enhancing tenant appeal. Situated on a desirable corner lot, the property offers excellent visibility, ample on-site parking, and additional street parking for residents and guests. Pride of ownership is evident throughout with fresh exterior paint, attractive landscaping, and consistent upkeep that contributes to strong tenant retention and long-term investment stability. Ideally located in close proximity to Joint Base Lewis-McChord (JBLM), this property benefits from strong rental demand while offering convenient access to shopping, dining, parks, schools, public transportation, and major commuter routes. A turnkey multifamily asset with proven performance, this 8-plex presents a rare opportunity to acquire a well-maintained, income-producing property in one of Lakewood's most sought-after markets. All kitchen appliances stay, washer/dryer hook ups in all units!
Custer, located between Lake Steilacoom and Joint Base Lewis-McChord, is a residential and lakeside Lakewood neighborhood with evergreen-lined streets and pocket parks. The neighborhood’s character concentrates around the Lake Steilacoom Park waterfront, where docks, picnic lawns, and a steady loop of walkers set the daily rhythm. Housing leans toward mid-century ramblers and split-levels, with newer infill appearing on quieter blocks. The shoreline and tree canopy shape a calm, outdoors-forward feel. Nearby community pillars include Thornewood Castle, Lakewold Gardens, and the Lakewood History Museum for local culture and weekend wandering. A short drive connects to Lakewood Towne Center for errands and casual dining.
Provided by Walk Score and Local Logic
Property details
Interior
Exterior
Finance
Interior features
Laminate and carpet flooring
Bedrooms
Multiple 2-bedroom units (each unit listed as 2 bedrooms)
Bathrooms
Multiple 1-bath units (each unit listed as 1 bathroom)
Kitchen
Range/oven in units
Refrigerator in units
Dishwasher in most units
Laundry & utility
No in-unit washer/dryer (units listed without washer/dryer)
Flooring
Laminate flooring
Carpet flooring
Heating & cooling
Baseboard heating
No central cooling
Exterior features
Corner lot with curbs, paved surfaces and sidewalks
Wood exterior
Home design
Residential income property (multi-family)
Style: 5–9 units
Single-story structure
Has a view
Parking
Uncovered parking for 10 vehicles
Construction
Wood construction
Composition roof
Slab foundation
Effective year built 1985
Structure type: Multi family
Utilities
Electric energy source
Public water (Lakewood Water District)
Sewer connected (Pierce County Sewer)
Xfinity cable and internet
Financial info
Gross scheduled income listed at $130,370
Gross adjusted income listed at $130,370
Total monthly income listed at $10,910
Net operating income listed at $86,272
Total expenses listed at $32,132
Insurance expense listed at $2,976
Listing terms: Cash or Conventional
Water/sewer/garbage monthly figure listed as 16500 (verify units)
Other
Six total units in the building (8 units noted in building total vs 6 units total listed for unit count — verify)
Units are approximately 880 (unit square footage listed per unit)
Electricity and solar
View estimated energy costs and solar savings for this home
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
3/10 Heat Factor
7 days above 87° expected this year, 14 days in 30 years
1/10 Wind Factor
Minimal risk of severe winds over next 30 years
7/10 Air Factor
11 unhealthy days expected this year, 12 days in 30 years
Provided by First Street
Historical weather
Lakewood, WA • 98499
Average low and high temperatures (°F)
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35
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54
40
62
42
67
47
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78
56
79
58
73
53
61
46
52
42
49
40
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Feb
Mar
Apr
May
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Sun exposure
94/ 100
Exceptional sunlight
Sunscore
This home ranks in the top 13% for direct sun exposure in Lakewood. There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
11.2 hrs
4.9 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 8303 John Dower Rd SW
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