8324 Orchard Street SW, Lakewood, WA
The Foundation Group is pleased to offer for sale the Orchard Apartments. This asset is comprised of two properties, a 5-unit built in 1925 & a 1960’s duplex located on a large 18,400 SF lot in the Tillicum suburb of Lakewood, Washington. The duplex, which consists of two 1bed/1bath units, has undergone a full renovation to both the interiors, washer/dryer hookups, new double-pane window package and a new roof which was installed in 2021.
The 5-unit is made up of four 1bed/1bath and one 2bed/1bath unit. Four of the five units were fully renovated in 2021 and had all new electrical panels installed in 2019. A new owner can capitalize by pushing rents up to market levels and renting out the large 3,000 SF fenced-in portion of the property for additional income.