


8303 John Dower Road SWLakewood, WA 98499
Multi-Family · 16 Beds · 6,066 Sq. ft. | 0.62 Acres8303 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.
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
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
8303 John Dower Road SW Market Data
Based on the last 30 days in this zip code
8303 John Dower Road SW History
| Date | Value | Agent |
|---|---|---|
| 6/4/2026Source: NWMLS | June 04, 2026 |
































