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$350,000
2556031 MLS
Positioned across from Harry Todd Park and moments from American Lake, this 0.28-acre MF2-zoned parcel offers a compelling opportunity for a builder or investor seeking a head start on a four-unit concept. The current site plan depicts two attached two-unit buildings with garages, a shared access layout, proposed sewer connections and water meters. Predevelopment work includes engineered plans, structural calculations, soils and stormwater testing, and an active commercial sewer application for Building A. The mostly level, partially cleared lot is surrounded by established residential development with convenient access to schools, JBLM and I-5. Significant professional design and coordination provide a more developed starting point than a typical vacant parcel. Buyer to independently verify zoning, development feasibility, plans, approvals, utilities, costs and requirements.

14507 Woodlawn Street SW, Lakewood
$625,000
2532737 MLS
A rare opportunity – the last of a few undeveloped waterfront properties on Gravelly Lake. Even rarer still, a south-facing waterfront custom homesite in the coveted Madera Gardens gated neighborhood. Picture your dream home, sitting proudly at elevation looking out over the pristine waters of Gravelly Lake. Offering 103’ of low-bank lakefront and a generous 18,916 square foot lot, create terraced gardens from the elevated home site meandering down to the shoreline. Create a stunning outdoor entertainment area with nearly all-day sun thanks to the southerly perspective. Gravelly Lake is the ideal private water enthusiast’s paradise with limited boat traffic with lake access limited to residents. Enjoy sailing, fishing, kayaking, and watersports. Start your day by waking to the natural, soothing movements of the water & behold an osprey catching a fish. Unwind at the end of the day, admiring the sunset. Tacoma Country & Golf Club is just around the corner for social and golf membership. Enjoy the private formal gardens of the early 1900's Gravelly Lake Estate of Madera.

11623 Madera Gardens Drive SW, Lakewood
$250,000
2535528 MLS ⋅ Lake Steilacoom Park BLDG.
Beautiful building lot ready for your new home in the heart of Lakewood. Very large. 3-acre lot nestled down a paved access easement. First time on the market in 46 years. The lot is fairly overgrown but walkable. Please use the easement down the side of 10421 Meadow Rd for access and not the neighboring properties driveway.

Ponce De Leon SW, Lakewood
$525,000
2535263 MLS
Investor alert! Over 1 acre with prime short-plat and multi-unit development potential. The solid 2 bed, 1 bath, 2,000+ sq. ft. brick bungalow with detached garage is ideally situated at the front of the parcel—leaving expansive space for additional homes, duplexes, or more. The property is fully fenced, and the home is in good condition. Sold as-is through an estate sale. Excellent location close to JBLM, I-5 corridor improvements, shopping, schools, parks, lakes. Future Sounder station and 1.3-mile shared use trail! Rare opportunity to create multiple income-producing units in a high-demand area. Buyer to independently verify all information, permits, zoning, and development requirements with the City of Lakewood to their satisfaction.

15202 Washington Avenue SW, Lakewood
$799,000
2508142 MLS
Priced Improved on Prime multifamily-zoned land in Lakewood’s high-growth corridor, just minutes to JBLM. This nearly shovel-ready site includes extensive pre-development work—civil site planning, survey, geotechnical analysis, landscape design, and MEP (mechanical, electrical, plumbing)/energy coordination—saving significant time and upfront costs. Strong soil conditions support efficient stormwater design, enhancing feasibility and reducing development expense. Potential eligibility for the 12-year MFTE program may further improve long-term returns (buyer to verify). Flexible opportunity for builders, investors, or developers seeking a streamlined path to a ~25-unit project in a proven rental submarket. Do NOT disturb tenants.

12524 Addison Street SW, Lakewood
$595,000
2505379 MLS
Attention developer and Builders, this is the project that you have been waiting for... Over a 1/3 of acre lot divided and ready for you to put 5 homes on it! With lot permits approved, This ready lot near American Lake has been cleared, Civil engineering is complete, Short plat is complete, drawings are complete, Water/Sewer and gas in the street. Lot is level and close to the American Lake, JBLM, I-5, Minutes away to the Historical town of Steilacoom and all the amenities that Lakewood has to offer. Projects like this do not come around often, get this one while you can.

9836 Newgrove Avenue SW, Lakewood
$399,950
2479359 MLS
2.62-acre apartment site in low property tax Lakewood plus low vacancy rates and a reduced listing price for extra multiunit cash flow. Building area is in the front 1/3 of property (wetlands beyond). MF1 zoning. Best guess is approximately 20 units. Price reduced plus super owner contract at 3% first year, 4% second year, 5% third year, and 6% for remainder of term (like a 3-2-1 buydown). Seller will negotiate price for a cash out offer. Excellent location for apartment construction with Amazon directly across the street and other major employers in the immediate area. Great access to JBLM and the I-5 Freeway with just a quick commute north to Tacoma or south to Olympia. Property is located between 7817 and 7717 146th Street SW. Price reduced $200,000 for quick sale.

7727 146th Street SW, Lakewood
$1,000,000
2466534 MLS
Motivated Seller ~ What's your offer? Attention Developers and Investors: Prime 1.12-acre development opportunity on a main arterial with R4 zoning—potentialfor up to 17 units! Ideal for investors and builders, this level, wooded parcel offers dual access from both Washington Blvd and Moreland, maximizing design flexibility and access. Existing structures include 2 homes, carports, and a large shop—perfect for staging, planning, or rental income during permitting. Don’t miss this rare chance to unlock serious value in a growing area!

8409 Washington Boulevard SW, Lakewood
$900,000
2408882 MLS
BUILDER DEVELOPER ALERT!! Structually ready to build 13 townhomes or apartments on level lot in great location . This property is located minutes from freeways,AMAZON,JBLM and Lakewood town center. The seller has plans and drawings in place to build townhomes or apartments with City of Lakewood. Architectural drawing and most of civil work is completed to submit for permits. Power,water and sewer are located on the property as well as a new 6ft cedar fence installed for privacy. The property is mostly flat with gental slope to back of property. The property is cleared of all debri and ready to build soon. This is the perfect project for all developers or investors.

7407 147th Street SW, Lakewood
$249,999
2402399 MLS ⋅ LOT 2 BLDG.
Prime Opportunity in the Heart of Lakewood! Welcome to 9001 Forest Ave SW—an exceptional vacant lot nestled in a quiet, established neighborhood just minutes from American Lake, JBLM, and I-5. This level parcel offers a rare blend of privacy and convenience, making it ideal for your custom dream home or a savvy investment project. With utilities nearby and no HOA restrictions, the possibilities are wide open. Whether you're a builder, investor, or future homeowner, this is your chance to secure a piece of Lakewood's growing potential.

9001 Forest Avenue SW, Lakewood
$1,400,000
1811737 MLS
Premium properties like this rarely come along! With the construction of the new I-5 Berkeley St off ramp, all Northbound and Southbound taking the Berkeley St exit will drive by this lot before any others! This property will be the first any driver will see enroute to Camp Murray and other commercial establishments on Union Ave. The exceptional I-5 visibility, Berkeley St frontage & located in an Opportunity Zone make this property every developer’s dream! Neighborhood Commercial 2 zoning allows for numerous commercial, multifamily and mixed uses. Structures, septic and oil tank removed with NFA. All utilities are currently on site!

15515 Maas Lane SW, Lakewood
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Information courtesy of Intermountain Multiple Listing Service. Information provided by IMLS is deemed reliable but not guaranteed. IDX information is provided exclusively for consumers' personal, non‐commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. IMLS does not assume any liability for missing or inaccurate data. All listings provided by IMLS are marked with the official IMLS IDX icon.