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29306541
29306558

10240 Bridgeport Way SW, Lakewood, WA 98499

RJ
WA 87080
Westlake Associates, Inc.
AL
WA 21016457
Westlake Associates, Inc.
Listed by Westlake Associates, Inc.
$9,500,000
135 days on market
Updated 29 days ago

Town Centre Village

Details
APN 5400000541
Property Type Multifamily, Retail
Sub Type Apartment Building, Day Care/Nursery (+1)
Square Footage 48,214
Net Rentable (SqFt) 48,214
Units 50
Cap Rate 6.77%
NOI $642,708
Lease Type NNN
Pro-Forma Cap Rate 8.1%
Pro-Forma NOI $769,795
Price per SqFt $197
Year Built 2005
Year Renovated 2017
Buildings 2
Stories 3
Lot Size (SqFt) 59,350
Zoning NC2

Multifamily | 50 Units | $190,000/unit

Marketing description

Town Centre Village is a well-maintained mixed-use investment offering a compelling blend of scale, diversification, and modern appeal. The property features 37 spacious residential units with large one- to three-bedroom floor plans, complemented by 13 street-level retail suites that provide multiple income streams. Built in 2005 with expansion in 2017, the asset includes a main elevator-served building as well as a separate townhome-style fourplex. Residential units have been upgraded with contemporary flooring, cabinetry, and finishes, and every unit is equipped with a full in-unit washer and dryer. Retail tenants operate under established NNN leases and benefit from fully served HVAC systems, while on-site amenities include secured 24-hour resident parking, 87 total parking spaces, an on-site daycare, salon, and café—enhancing both tenant demand and long-term stability.

Ideally positioned along high-visibility Bridgeport Way SW, the property offers immediate access to I-5, Tacoma, and Joint Base Lewis-McChord, with Lakewood Towne Center’s retail and dining options just minutes away. The Lakewood Transit Center is located under two miles from the site, further strengthening commuter appeal. Residents enjoy a highly active lifestyle with Fort Steilacoom Park, American Lake, and Chambers Creek Regional Park all nearby, along with golf at Oakbrook Golf Club just ten minutes away. Surrounded by a vibrant mix of restaurants, recreation, and services, this location supports strong rental demand and positions the property as a standout mixed-use investment in a thriving submarket.

Investment highlights

• 37 residential units featuring large 1-3 BD floorplans

• 13 retail suites providing diversified income streams

• All retail tenants under established NNN Leases

• Mixed-use building plus separate townhome style fourplex

• Built in 2005 with additional 2017 expansion

• Upgraded units with modern flooring, cabinets, finishes

• Full in-unit washer and dryer in every unit

• On-site daycare, award-winning salon, and café

• Retail spaces fully served by HVAC systems

• Secured 24-hour resident parking

• 87 total on-site parking spaces

• Main building equipped with an elevator

Listing Contacts

RJ
WA 87080
Westlake Associates, Inc.
AL
WA 21016457
Westlake Associates, Inc.
Listed by Westlake Associates, Inc.

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$642,708.00
$53,559.00/mo

Valuation Metrics

0
DSCR
6.77%
Cap Rate
6.77%
ROI

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Additional Information

Name
Reid Jones
License
87080
Brokerage
Westlake Associates
Brokerage Phone
2062509655
Title
Broker
Brokerage Address
1200 Westlake Avenue North
Name
AJ Lachini
License
21016457
Brokerage Phone
2064289901
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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