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Lakewood, WA, 98498 • Tillicum • Pierce County
$353/sqft
1Beds
1Baths
7,716Sqft
0.41 acLot
1999Built
Waterfront Property
Lake
Lake Views
Lake
5-9 Units Style
Built 1999 · 27 years of history
American Lake
Tillicum
Demand and pricing signals for this listing
130 views
People checking out this listing
11 days on market
Recently listed
$353/sqft
Price per square foot
Multi Family · Built 1999
Opportunities like this are rare. Welcome to American Lake, where legacy meets potential. This 9-unit waterfront multifamily property is ready for its next chapter. Featuring four 1-bedroom standalone cottages, a fourplex offering 2-bedroom units, and a private waterfront home, this one-of-a-kind offering combines character, flexibility, and income potential. Current rents are below market, providing strong upside for investors. Enjoy direct lake access with on-site watersport storage, an enormous dock, and surplus parking. Whether you choose to hold long-term, convert to luxury short-term rentals, or owner-occupy and build community, this property delivers. Western exposure ensures unforgettable sunsets over the water. Greet location!
Standout features identified
Our analysis highlights surplus parking, enormous dock, and direct lake access as key attractions of this home.
Based on current rates
Est. 6.19% rate · 30yr fixed · $2,180,000 loan
Full calculator →Key facts and listing details
6 categories of property features
Market data and value estimates
3 schools rated nearby
Lakewood, WA, 98498
2 events
Local context around this listing
Lakewood, WA • Pierce County
Nearby neighborhoods
Nearby cities
Nearby zip codes
Based on information submitted to the MLS GRID as of 2026-04-07 09:13:30 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)
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