Listed by Gabe Blake • Blake Investment Advisors.
Active
Lakewood
$1,775,000.00
12413 Bridgeport Way SW, Lakewood, WA 98499
- 0
- 0
- 0sq ft
- 114127lot sq ft
About this property
$126K PER UNIT & 6.44% CAP RATE | Gen Villas is a cash-flowing value-add 14-unit apartment community situated on 2.62 acres in a serene creek-side setting surrounded by lush greenery in Lakewood, located less than 2 miles from Joint Base Lewis-McChord, Pierce County’s largest employer. The property consists of 14 units across two separate buildings: a 6-unit building located at the front of the property, originally constructed in 1972, and an 8-unit building situated at the rear of the property, built in 1955. The unit mix includes one 4-bedroom / 3-bathroom unit, one 3-bedroom / 1-bathroom unit, three 2-bedroom / 1-bathroom units, and nine 1-bedroom / 1-bathroom apartments. Seven units at the property have been updated to a similar finish level as photographed in Unit 5, featuring luxury vinyl plank flooring, fresh interior paint, and newer kitchen appliances and cabinetry. The opportunity exists for new ownership to complete cosmetic renovations to the remaining 7 units and increase rents approximately 17% to market. A Additionally, Units 1, 2, and 4 include in-unit washer and dryer stacks, while the remaining units benefit from access to an on-site community laundry facility. Residents benefit from an ample supply of off-street parking, including 6 carports and 3 surface parking stalls serving the front building, as well as an additional 16 surface parking stalls designated for the rear building.
Residential Income
Property Type
1972
Year Built
114,127 sq ft
Lot Size
Listed by Gabe Blake • Blake Investment Advisors
Listed by Josh Blake • Blake Investment Advisors
Aris360 checked: 3 hours ago
Listing updated: Aug 10, 2026 • Source: NWMLS as Distributed by MLS Grid • #NWM2525348
Property details
Parking Features
- Total Parking Spaces: 25
- Garage: No
- Attached Garage: No
- Carport: No
- Open Parking: No
- Covered Spaces: 6
Bathroom Information
- # of Baths (Total): 0
- # of Baths (Full): 0
- # of Half Baths: 0
- # of Baths (3/4): 0
- Main Level Bathrooms: 0
Bedroom Information
- Total Bedrooms: 0
- Main Level Bedrooms: 0
- Upper Level Bedrooms: 0
Heating
- See Remarks
Cooling
- None
- Has Cooling: No
Interior Features
Flooring
- See Remarks
Appliances / Equipment
Square Footage
- Living Area: 0 sq ft
- Building Area Total: 0 sq ft
- Calculated Sq Ft: 0
Foundation
Exterior Features
- See Remarks
Roof
- Composition
Property Information
- Property Type: Residential Income
- Property Sub Type: Multi Family
- Structure Type: Multi Family
- Sewer: Sewer Connected
- Energy Source: Electric
Lot Information
- Lot Size Acres: 0
- Lot Size Sq Ft: 114127
- Elevation Units: Feet
- Irrigation Water Rights: No
Construction Materials
- See Remarks
Property Condition
- Good
Financial Information
- List Price: $1,775,000.00
- Original List Price: $1,900,000.00
- Listing Terms: Conventional
- Buyer Brokerage Compensation: 2%
- HOA Fee: None
- Has HOA: No
- Land Lease: No
Listing Dates
- List Date: May 26, 2026
- Contract Date: Jan 1, 1
- Purchase Contract: Jan 1, 1
- Status Change Date: May 26, 2026
- Third Party Approval: None
- Special Conditions: None
Possession
- Closing
Water
- Waterfront: No
Other Utilities
- Electric on Property: No
- Bus Line Nearby: No
- Spa: No
Energy
- Electric
Location Information
- Address: 12413 Bridgeport Way SW, Lakewood, WA 98499
- City: Lakewood
- State: WA
- Postal Code: 98499
- County: Pierce
- Country: US
- Subdivision: Lakewood
- Directions: Take Bridgeport Way SW and head south. Continue on Bridgeport Way SW for approximately 2 miles. The property, 12413 Bridgeport Way SW, will be located on your right-hand side in Lakewood.
School Information
- Elementary School:
- Middle School:
- High School:
- High School District: Lakewood
Public Facts
- Year Built: 1972
- Year Built Effective: 0
- New Construction: No
- Tax Year: 2026
- Tax Annual Amount: 26305
- Tax Assessed Value: ___
- Parcel Number: 0219123054
- County: Pierce
- Total Sq. Ft.: 0
- Senior Community: No
- FIRPTA: No
Construction Materials
- See Remarks
Architectural Style
Build Details
- Sketch Submitted: No
- Septic Design Installed: No
Offer Instructions
Seller intends to review offers upon receipt
Disclosures
- Preliminary Title Ordered: Yes
- Title Company: Stewart Title
- First Right of Refusal: false
- Equitable Interest: false
Listing Agent / Office
- MLS ID: NWM2525348
- Listing Key: NWM159493075
- Source System: NWMLS
- Listing Office: Blake Investment Advisors
- Office MLS ID: NWM7913
- List Agent: Gabe Blake
- Agent MLS ID: NWM146115
Co-List / Buyer Agent
- Co-List Agent: Josh Blake
- Co-List Office: Blake Investment Advisors
- Co-List Phone: 206-618-2207
- No buyer agent on record
Listing Timeline
- List Date: May 26, 2026
- Status Change: May 26, 2026
- Cumulative Days on Market: 61
- List Price: $1,775,000.00
- Original List Price: $1,900,000.00
- MLS Status: Active
- Standard Status: Active
- Last Modified: Aug 10, 2026, 6:59 PM
- Status Changed: Aug 3, 2026, 9:59 PM
- Photos Count: 23
- Photos Updated: May 26, 2026
MLS Grid Info
- IDX Remove Photos: No
- Internet Display: Yes
- Address Display: Yes
- AVM Display: Yes
- Consumer Comments: No
- Short Term Rental: false
Listing Meta
- Published: May 26, 2026
- Property Type: Residential Income
- Last Updated: Aug 10, 2026
- Source: NWMLS
Amenities
- WiFi
- Heating
- Dishwasher
- Iron
- TV
- Laundry
- Cats