Rare add-value multifamily investment opportunity in Lacey! Features fully occupied a single-family home and a 4-plex with strong rental history. Conveniently located near I-5, JBLM, shopping, and schools. Great mix of unit types, stable income, and future upside. Ideal for both seasoned and new investors looking for scale and long-term growth in a strong rental market.
Central Lacey, located between I-5 and Capitol Lake, is a civic and commercial Lacey neighborhood with a mall corridor and a park-and-trail network. The neighborhood’s character concentrates around the Sleater Kinney Road SE and Pacific Avenue SE crossroads, where big-box storefronts, local eateries, and steady traffic set a practical, on-the-go tone. Long Lake Park and the Chehalis Western Trail shape daily routines with water access and long, flat miles for walking and biking. Housing reads as mid-century ranches and later subdivisions, with pockets of apartments near the retail spine. The Lacey Museum and the Lacey Timberland Library add a quieter cultural counterpoint to the shopping district.
Provided by Walk Score and Local Logic
Property details
Interior
Exterior
Finance
Interior features
Engineered hardwood and carpet flooring
Baseboard, forced air and heat pump heating
Bedrooms
Four 2-bedroom units (1608A–1608D)
One 3-bedroom unit (1616)
Bathrooms
Four 1-bath units (1608A–1608D)
One 3-bath unit (1616)
Kitchen
All units include a range/oven
All units include a refrigerator
Laundry & utility
All units include washer/dryer
On-site coin-operated laundry
Electric service
Flooring
Engineered hardwood
Carpet
Heating & cooling
Heating provided by baseboard, forced air and heat pump
No central cooling
Exterior features
Wood exterior
Paved lot with sidewalk
Home design
Multi-family residential income property
5 units total in building
2 stories
Built/effective year 1986
Property condition: Good
Style: 5–9 units
Parking
10 uncovered parking spaces
Construction
Wood construction
Composition roof
Poured concrete and slab foundation
Utilities
Public water (City of Lacey)
Sewer connected (City of Lacey)
Power by PSE
Cable: Xfinity
Internet: Xfinity
HOA & community
Storage available
Financial info
Listing terms: Cash
Total monthly income reported: $7,600
Total units: 5 (multi-family income property)
Other
Calculated building area: 12,424 sq ft
Electricity and solar
View estimated energy costs and solar savings for this home
It is the intent of this chapter to: Provide an environment conducive to a broad range of office uses including administrative facilities, research institutions, professional offices, and medical offices; Provide the opportunity for specialized manufacturing operations, subject to appropriate controls, to protect nearby land uses; Allow for a broad range of complementary uses including multifamily residential, limited retail uses, and commercial recreation uses; Retail uses in this zone shall be limited because of the community office district’s proximity to zoning districts that provide retail services; Provide development standards to enhance the compatibility of the district adjacent to commercial or residential areas.
Permitted uses
Include but are not limited to:
Day care facility
General retail
Housing-Multiple units
Housing-Senior
Industrial
Manufacturing
Processing
Warehouse
Office
Research & development
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
3/10 Heat Factor
7 days above 88° expected this year, 14 days in 30 years
1/10 Wind Factor
Minimal risk of severe winds over next 30 years
6/10 Air Factor
7 unhealthy days expected this year, 8 days in 30 years
Provided by First Street
Historical weather
Lacey, WA • 98053
Average low and high temperatures (°F)
46
34
48
35
54
39
63
40
69
46
74
50
80
54
78
56
73
52
60
44
51
41
48
39
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
77/ 100
Good sunlight
Sunscore
There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
9.7 hrs
4.5 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 1608 Ruddell Rd SE
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