Lochburn Lane is a well-maintained 18-unit apartment complex nestled in the heart of Lakewood, Washington. Comprising two buildings—an 8-unit and a 10-unit building—situated on two separate parcels. The property was developed in two phases, with the first building (10 units) completed in 1950 and the second (8 units) in 1956. The 10-unit building features solid masonry construction, while the 8-unit building is wood-framed. Both buildings are equipped with pitch composition roofs, copper electrical wiring, and mostly galvanized steel plumbing. Over the years, Lochburn Lane has undergone a series of thoughtful upgrades by various ownership groups, including extensive unit renovations. Under current ownership, the property has seen significant improvements, including the replacement of the 8-unit building's roof, fresh exterior paint, enhanced landscaping, as well as additional unit renovations with modern finishes. The complex features a mix of unit sizes, including 15 one-bedroom/one-bath units (approximately 528 square feet), 1 one-bedroom/one-bath+den unit (approximately 800 square feet), and 2 two-bedroom/one-bath units (approximately 800 square feet). Each apartment comes equipped with modern appliances, including white, black, or stainless steel, stove/range, refrigerator, stainless-steel sinks, white cabinetry, and a combination of LVP and carpet flooring. Additional features include individual hot water tanks, cadet wall heaters, double-pane vinyl windows, and private backyard patios (8-unit building). Common area amenities include a community courtyard at the 10-unit building, on-site laundry facilities, carports, open parking, and ample street parking along Lochburn Lane SW, ensuring convenience for residents and guests alike. Lakewood, WA, which is located just south of Tacoma, is historically a high cashflow market that has one of the highest renter percentages in Pierce County. This thriving market offers exceptional value with some of the most affordable price-per-unit and price-per-square-foot metrics in the Puget Sound region. In addition, Lakewood stands out with some of the highest cap rates and cash-on-cash returns in the area, making it an attractive choice for investors seeking reliable and profitable opportunities. Investing in Lochburn Lane offers the opportunity to acquire a well-maintained asset at an attractive cost basis, with minimal operational complexity and strong cash flow potential. Priced above a 6% cap rate based on current income, the property offers immediate returns with the option of favorable interest-only financing for several years. This provides a buyer with strong cash flow from day one of ownership. Moreover, Lochburn Lane presents significant upside potential. With the ability to raise rents to market rates without the need for additional capital infusion, a buyer can increase their cash-on-cash return to nearly 7.5%, further enhancing the investment's long-term value. This combination of stable income, immediate returns, and future rent growth makes Lochburn Lane an exceptional opportunity for investors looking to capitalize on the vibrant Lakewood market.