About this home

This stunning lakefront property is unlike anything you’ve ever seen! Sited on 700 feet of waterfront and 9.31 acres, this special property is the perfect combination of lakefront luxury and income generating rentals. The hallmark of the property is the lakefront lodge. At more than 4,200 square feet, clad in stone, stucco, slate, and copper, this beautiful home features a main level primary suite, an expansive kitchen, a two-story great room, and an attached ADU/MIL above the three-car garage. Open the three sets of French doors in the great room for a seamless indoor-outdoor flow onto the covered outdoor patio. Enjoy beautiful lake views from nearly every room, especially the elevated ADU which offers two private external entrances and interior access from the main residence. The South-facing shoreline features a picturesque Mount Rainier view. The dock easily accommodates a float plane or large vessel, with an extra motorized float perfect for cruising the lake with friends. Now, the rentals. This single-parcel property includes 7 rental units: two 1-bed duplexes, a 2-bed duplex, and an additional single-family home. These additional residences have all received consistent updates throughout the years and benefits from long-term tenants who would love to stay. Photos of the SFR and one of the duplex units are included in this listing. Gross annual income exceeds $100,000 per year and a rent roll is available upon request. This one-of-a-kind property is as rare as it comes.

Exterior features

Schools

Property details

Heating

Forced Air, Heat Pump, High Efficiency (Unspecified)

Cooling

Heat Pump

Flooring

Hardwood, Slate, Vinyl, Vinyl Plank, Carpet

Parking

RV Parking

View

Lake, Mountains

Lot

Cul-De-Sac, Paved, Secluded

Water source

Public

Sewer

Septic Tank

Costs

Annual taxes

$32,136 (2026)

Location

Spanaway, WA 98387