Listing provided courtesy of RE/MAX NorthwestNWMLSas Distributed by MLSGrid- MLS# NWM2530635MLS Provider

8303 John Dower Road SWLakewood, WA 98499

Multi-Family · 16 Beds · 6,066 Sq. ft. | 0.62 Acres
$2,250,000 Active

8303 John Dower Road SW Overview

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Exceptional 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.

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8303 John Dower Road SW Facts & Features

  • Type Multi-Family
  • Sq. ft. 6,066
  • Price/Sq.ft. $371
  • Lot 0.62 Acres

Details

General

Association/HOA

  • Association Fee: $0.00

School Information

  • School District: Lakewood
  • Elementary School: Buyer To Verify
  • Middle Or Junior School: Lakewood Mid
  • High School: Lakewood High

Income/Expenses

  • Other Expense: 0
  • Electric Expense: 0
  • Fuel Expense: 0
  • Gross Scheduled Income: 130370
  • Insurance Expense: 2976
  • Net Operating Income: 86272
  • Total Expenses: 32132
  • Total Monthly Income: 10710
  • Water/Sewer/Garbage: 16500

Building Information

  • New Construction: No
  • Year Built: 1962

Location/Region

  • Country: US
  • County Or Parish: Pierce
  • MLS Area Major: 37 - Lakewood
  • Subdivision Name: Lakewood

Tax Information

  • Tax Annual Amount: $12,656.00
  • Tax Year: 2026

General Information

  • Listing Terms: Cash, Conventional
  • Parcel Number: 5230000295
  • Possible Use: Multi-Family
  • Property Condition: Good
  • Property Sub Type: Multi Family
  • Property Type: Residential Income
  • Senior Community: No
  • Special Listing Conditions: None

Interior

Parking Information

  • Garage Spaces: 0

Beds/Baths

  • Bedrooms Upper: 0

Building Interior

  • Building Area Total: 6066
  • Building Area Units: Square Feet
  • Calculated Square Footage: 6066
  • Square Footage Finished: 0
  • Square Footage Unfinished: 0

General Information

  • Cooling: No
  • Fireplace: No
  • Fireplaces Total: 0
  • Flooring: Laminate, Carpet
  • Foundation Details: Slab
  • Heating: Yes
  • Leasable Area: 6066
  • Living Area: 0
  • Main Level Bathrooms: 0
  • Power Production Type: Electric
  • Stories Total: 1

Exterior

Parking Information

  • Open Parking: No
  • Parking Total: 10
  • Parking Uncovered Total: 10

Lot Information

  • Irrigation Water Rights: No
  • Lot Features: Corner Lot
  • Lot Size Acres: 0.6198
  • Lot Size Dimensions: 225x120
  • Lot Size Square Feet: 27000
  • Lot Size Units: Square Feet
  • Elevation Units: Feet
  • Water Source: Public

Waterfront/View

  • Waterfront: No

Building Exterior/Construction

  • Roof: Composition
  • Structure Type: Multi Family

General Information

  • Carport Spaces: 0
  • Carport: No
  • Covered Spaces: 0
  • Exterior Features: Wood
  • Number Of Units Total: 8
  • Sewer: Sewer Connected

Unit Information

Unit 5 Details

  • Actual Rent: 1200
  • Beds Total: 2
  • Baths Total: 1

Unit 7 Details

  • Actual Rent: 1200
  • Beds Total: 2
  • Baths Total: 1

Unit 4 Details

  • Actual Rent: 1300
  • Beds Total: 2
  • Baths Total: 1

Unit 6 Details

  • Actual Rent: 1350
  • Beds Total: 2
  • Baths Total: 1

Unit 3 Details

  • Actual Rent: 1400
  • Beds Total: 2
  • Baths Total: 1

Unit 1 Details

  • Actual Rent: 1400
  • Beds Total: 2
  • Baths Total: 1

Unit 2 Details

  • Actual Rent: 1410
  • Beds Total: 2
  • Baths Total: 1

Unit 8 Details

  • Actual Rent: 1450
  • Beds Total: 2
  • Baths Total: 1

8303 John Dower Road SW Neighborhood

Community

98499 (LAKEWOOD) Demographics

33
Median Age
3,254
Population Density (per sq. mile)
30%
College Educated
$50,037
Estimated Median Income
4,435
Estimated Total Home Owners
8,688
Estimated Total Renters
34% / 66%
Estimated Owner / Renter Divide
2
Estimated Average Household Size
Community data courtesy of LiveBy, Inc.

Schools

School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

8303 John Dower Road SW Monthly Cost

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* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

8303 John Dower Road SW Market Data

Based on the last 30 days in this zip code

$633,602
Average List Price
$301
Average Price per Square Foot
17
Properties Sold
72
Average Days on Market
104
Properties for Sale
Calculations provided by Reliance Network

8303 John Dower Road SW History

Date Event Value Agent
6/4/2026Source: NWMLS Added to Database
June 04, 2026