Sold311d on market
10724 SW 109th Street
Lakewood, WA, 98498 • 98498 • Pierce County
$7,275,000
$202/sqft
36,037Sqft
3.2 acLot
1965Built
Property DNA
Lakewood
98498
Market activity
Demand and pricing signals for this listing
6 views
People checking out this listing
311 days on market
Established listing
$202/sqft
Price per square foot
About this home
Multi Family · Built 1965
Discover a high-value investment in Tacoma’s thriving Lakewood submarket. Arrowhead Park is a fully occupied, 42-unit complex featuring spacious one-, two-, and three-bedroom layouts. With easy access to major retail hubs, outdoor recreation, and top employers—including JBLM and the expanding South Sound healthcare sector—this property benefits from strong tenant demand and stable occupancy. Offering a solid 6.59% cap rate, Arrowhead Park presents a lucrative value-add opportunity with planned renovations poised to drive rental growth. Take advantage of Lakewood’s affordability and economic momentum—an ideal investment in a rising market.
Estimated monthly payment
Based on current rates
$45,300/month
Principal & Interest$35,600
Property Tax$7,275
Insurance$2,425
Down payment20% ($1,455,000)
3%50%
Est. 6.19% rate · 30yr fixed · $5,820,000 loan
Full calculator →At a glance
Key facts and listing details
TypeMulti Family
Year Built1965
HeatingHigh Efficiency (Unspecified), Electric, Natural Gas
CoolingNone
Parking32 Covered Parking spaces
Property
Home typeMulti Family
Sub-typeMulti Family
Year built1965
Systems
HeatingHigh Efficiency (Unspecified), Electric, Natural Gas
CoolingNone
RoofComposition
ConstructionMetal/Vinyl
Water / SewerPublic / Sewer Connected
Parking & Outdoor
ParkingOpen
Lot3.19 Acres
Location & Tax
Neighborhood98498
Annual tax$70,468
Parcel2255300030
Features & details
6 categories of property features
Interior Features
Flooring
Vinyl Plank
Carpet
Heating
High Efficiency (Unspecified)
Electric
Natural Gas
Cooling
None
Exterior Features
Parking
Open
Construction
Metal/Vinyl
Lot Features
Open Lot
Paved
Deck
Fenced-Partially
High Speed Internet
Listing insights
Market data and value estimates
StatusSold
Days on market311
Est. rent$2,077/mo
Tax rate0.88%
Price/sqft$202
On marketJun 3, 2025
PostedMar 9, 2025
Last sold$7,275,000
MLS statusSold
MLS updatedAug 7, 2025
Tour days6
Views6
How are the schools in Lakewood?
3 schools rated nearby
Location
Lakewood, WA, 98498
Price history
2 events
DateEventPrice$/sqftSource
May 30, 2025Sold$7,275,000$202NWMLS as distributed by MLS GRID
Mar 9, 2025Listed For Sale$7,600,000$211NWMLS as distributed by MLS GRID
Sold$7,275,000
May 30, 2025•$202/sqft•NWMLS as distributed by MLS GRID
Listed For Sale$7,600,000
Mar 9, 2025•$211/sqft•NWMLS as distributed by MLS GRID
Tax history
19 years of records
YearTax paidAssessed value
Apr 7, 2024$11,439$719,500
Apr 7, 2023$8,226$719,500
Apr 7, 2022$8,016$719,500
Apr 7, 2021$7,674$597,300
Apr 7, 2019$7,635$543,000
Apr 7, 2018$7,924$537,900
Apr 7, 2017$2,272$489,000
Apr 7, 2016$6,239$356,100
Apr 7, 2014$6,239$373,100
Apr 7, 2013$6,806$388,100
Apr 7, 2012—$388,100
Apr 7, 2011—$388,100
Apr 7, 2010—$453,400
Apr 7, 2009$6,659$491,800
Apr 7, 2008$5,891$479,600
Apr 7, 2007$5,459$427,100
Apr 7, 2002$4,257$268,300
Apr 7, 2001$3,954$268,300
Apr 7, 2000$3,954$251,000
Nearby homes
Neighborhood details
Local context around this listing
Lakewood, WA • Pierce County
Nearby neighborhoods
Carter LakeCusterDowerIdlewildLake LouiseLakeviewOakbrookOakwoodPark LodgeTyee Park
Nearby cities
Bonney LakeEnumclawGig HarborGrahamLakewoodParklandPuyallupSpanaway
Nearby zip codes
98438984399849398496984979849898499
Based on information submitted to the MLS GRID as of 2026-04-07 09:28:23 PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. [Click here for more information](/mls-disclaimers/#39)
No obligation · Same-day response