This home's estimate is 35.7% higher than the average sale price ($323K) of 6 comparable homes.
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8802 -8804 Forest Rd SW, Lakewood, WA 98498
About this home
Investor alert! Amazing opportunity with this detached duplex. House hack by remodeling and living in the front house and collecting rent from the back. Or rent out both units for real cashflow! Two Single homes on one lot. 8802 is about 764 sqft 2 beds and 1 bath with laundry hook ups and a new roof but could use some work. 8804 is about 672 sqft with 2 beds 1 bath with a fully fenced yard and W/D hook ups and is currently rented. They are independently metered for electric, on septic, and tenants pay water and garbage as well so you can enjoy a cap rate of 8.4

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Market trends in 98498, WA
Last updated August 2026
Buyer's Market
Seller's Market
Seller's market
0 days MoM
- COMING SOON$3,150,0003 beds3.5 baths3,892 sq ft13001 Avenue Dubois SW, Lakewood, WA 98498Trevor Kovich • NWC-KV LLC
- NEW 33 HRS AGO$595,0003 beds2.5 baths1,792 sq ft11013 Lundstrom Dr SW, Lakewood, WA 98498George Atz • Keller Williams Rty Tacoma
- NEW 1 DAY AGO
- $489,9503 beds2 baths1,560 sq ft7515 97th Ave SW, Lakewood, WA 98498Jenah Mahan • Gateway Real Estate
- COMING SOON
- $389,9003 beds2.5 baths1,450 sq ft8638 Onyx Dr SW Unit E, Lakewood, WA 98498Sol Lemus • John L. Scott Dupont
- $565,0003 beds2.5 baths1,748 sq ft10116 100th Street Ct SW, Lakewood, WA 98498Jay Moore • RE/MAX Exclusive
- $560,0004 beds2.5 baths2,091 sq ft8419 WASHINGTON Blvd SW, Lakewood, WA 98498Cory Glasen • Keller Williams Realty PS
- OPEN SAT, 10AM TO 12PM$749,9994 beds3 baths2,327 sq ft10020 100th Ave SW, Lakewood, WA 98498Jessica Tittarelli • Keller Williams South Sound
See all
Provided by Redfin
Sale history for 8802 -8804 Forest Rd SW
$225/sq ft
$244/sq ft
$251/sq ft
$265/sq ft
$89/sq ft
$88/sq ft
$89/sq ft
$94/sq ft
$35/sq ft
Tax history for 8802 -8804 Forest Rd SW
*Taxable value of land and structures on it ("additions") is determined regularly by local assessors and does not affect market price.
Public record
Property details
Interior
- Heating & Cooling
- Has Heating
- Interior Features
- Interior Features: Wall to Wall Carpet, Laminate
- Flooring: Laminate, Carpet
Exterior
- Building Information
- Roof: Composition
- Exterior Features
- Exterior Features: Wood, Wood Products
- Property Information
- Energy Source: Electric
- Style Code: 52 - Duplex
- Property Type: Residential Income
- Property Sub Type: Multi Family
- Land Information
- Possible Use: Multi-Family
- Lot Information
- MLS Lot Size Source: Realist
- Site Features: Cable TV,Fenced-Partially,Patio
- Lot Features: Secluded
- Lot Size Units: Square Feet
- Lot Size Acres: 0.1331
- Elevation Units: Feet
Financial
- Tax Information
- Tax Annual Amount: $3,370
- Tax Year: 2022
- Financial Information
- Listing Terms: Cash Out, Rehab Loan
- Buyer Financing: Cash
Utilities
- Utility Information
- Water Source: Community
- Water Company: Lakewood Water
- Power Company: PSE
- Sewer: Septic Tank
- Sewer Company: Septic
- Water Sewer Garbage: 100
Location
- Multi-Family Financial Information
- Insurance Expense: $148
- Net Operating Income: $29,522
- Gross Adjusted Income: 35868
- Gross Scheduled Income: $36,600
- Total Monthly Income: 3050
- Gross Rent Multiplier: 9.7
- Total Expenses: 3618
- Multi-Unit Information
- Units Below Grade: false
- Units In Building Total: 2
- Vacancy Rate: 2
- # of Units (Total): 3
- Furnished: Unfurnished
- School Information
- Elementary School: Tillicum Elem
- Middle Or Junior High School: Woodbrook Mid
- High School District: Clover Park
- Location Information
- Directions: From I-5 take Berkeley St Exit 122; Turn North on Berkley; Right on Portland; Left on Forest.
Public facts
- Beds: 2
- Baths: 1.0
- Sq. Ft.: 764
- Stories: 1.0
- Lot Size: 5,800 square feet
- Style: Single Family Residential
- Year Built: 1915
- Year Renovated: 1991
- County: Pierce County
- APN: 0219212098
Other
- Listing Information
- Mls Status: Sold
- Listing Date Information
- Offers Review Date: Tuesday, May 3, 2022
- On Market Date: Wednesday, April 27, 2022
- Green Information
- Power Production Type: Electric
- Home Information
- Living Area Units: Square Feet
- Calculated Square Footage: 1436
- Building Area Total: 1436
- Building Area Units: Square Feet
- Foundation Details: Concrete Ribbon
- Year Built Effective: 1950
- Effective Year Built Source: Public Records
- Structure Type: Duplex
- Stories Total: 1
Around this home
Schools
Public PreK-5 • Assigned • 0.3mi
Public 6-8 • Assigned • 2.1mi
Public 9-12 • Assigned • 3.2mi
Lifestyle
Provided by Walk Score and Local Logic
Climate risks
Minimal risk of a flood reaching the building in the next 30 years
Unlikely to be in a wildfire in next 30 years
7 days above 87° expected this year, 14 days in 30 years
Minimal risk of severe winds over next 30 years
7 unhealthy days expected this year, 8 days in 30 years
Sun exposure
In this area, properties receive around 8.9 hours in June and 1.8 hours in December, placing it below the U.S. average for solar exposure.
Nearby similar homes
New listings for sale in 98498
Home values near 8802 -8804 Forest Rd SW
| Address | Redfin Estimate |
|---|---|
2 Beds | 2 Baths | 1850 Sq. Ft. | $609,810 |
- Beds | - Baths | 944 Sq. Ft. | $391,064 |
| Address | Redfin Estimate |
|---|---|
2 Beds | 1 Baths | 728 Sq. Ft. | $328,830 |
- Beds | - Baths | 1584 Sq. Ft. | $527,473 |
| Address | Redfin Estimate |
|---|---|
2 Beds | 1 Baths | 924 Sq. Ft. | $385,725 |
3 Beds | 1 Baths | 804 Sq. Ft. | $361,910 |
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