5302-5312 Chicago Ave SW
Lakewood, WA 98499
56 Units, 10 Units Built in 2017! 9% cash on cash return, 6.55% Cap Rate, Current NOI $309,989, located 2 miles from Lakewood Town center,minutes to I-5,Resurfaced driveway 2017. Eastwood Apartments is located on the east side of the I-5 Interstate. quick and convenient access numerous retail centers including Lakewood Towne Center, Tacoma Mall, Downtown Tacoma,Clover Lake College Campus. Conveniently located halfway between Seattle and Olympia, Lakewood is the host community to Joint Base Lewis-McChord and Camp Murray. Home to several beautiful lakes and wonderful historic treasures such as Fort Steilacoom Park, Lakewold Gardens and Thornewood Castle.
Lakewood is just minutes away from Puget Sound and the Port of Tacoma and just a short drive to Sea-Tac International Airport. Lakewood' s position at the junction of I-5, SR-512, and US Hwy 99 coupled with light rail access, make the City a major transportation hub for the lower Puget Sound region. Direct Sounder commuter rail service from Lakewood to Seattle and connections to Everett.
25% of the regions population increase and 45% of its job growth going into centers between 2010 and 2040 include places such as Redmond Overlake, Lynnwood, and Downtown Tacoma. Future job growth over the next ten years is predicted to be 38%. Another one of the major driving forces is the University of Washington Tacoma.Growing area, NO B&O Tax,EB5 Regional Center to encourage foreign direct investment.
Businesses in Lakewood profit from the absence of a local Business and Occupation (B&O) tax, which is imposed by many Washington cities.