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About this home
Rare add-value multifamily investment opportunity in Lacey! Features fully occupied 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
Offer insights
1701 Ruddell Rd SE · $775,000
$772K and above
75% chance or better to win
Why $772K+ is a strong offer
DAYS ON MARKET
145 days
The average home goes pending in 62 days.
SALE-TO-LIST
96.5%
Most homes are selling 3% below list price.
About offer insights
Property details
Interior
Exterior
Finance
Interior features
Engineered hardwood and carpet flooring
Baseboard and forced air heating, with heat pump
Bedrooms
Three 1-bedroom units
One 3-bedroom unit
Bathrooms
Four 1-bath units (one bathroom per unit)
Kitchen
Range/oven in each unit
Refrigerator in each unit
Laundry & utility
Coin-operated laundry on site
In-unit washer/dryer in the 3-bedroom unit
Flooring
Engineered hardwood
Carpet
Heating & cooling
Has heating
Baseboard heating
Forced air
Heat pump
No central cooling
Exterior features
Wood exterior
Paved lot with sidewalk
Storage available
Home design
Residential income property (quadruplex)
Two-story structure
Built or effectively updated in 1979
Parking
Two covered garage spaces
Eight uncovered parking spaces
Construction
Wood construction
Composition roof
Poured concrete/slab foundation
Effective year built 1979
Utilities
Electric energy source
Public water (City of Lacey)
Sewer connected (City of Lacey)
Power by PSE
Cable by Xfinity
Internet by Xfinity
HOA & community
Coin-operated laundry and storage amenities
Financial info
Listing terms: Cash
Total monthly income reported: $4,951
Gross adjusted income reported as 0
Total expenses reported as 0
Four total units in the building
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
Oct 31, 2023 • Final
Electrical
Replace the electrical service panel.
Electrical
Oct 26, 2023 • Final
Electrical
Replace the electrical service panel.
Electrical
Permit history is from public records and may be incomplete or inaccurate. Redfin and its agents make no representations about the property condition or permit status. Buyers should independently verify all information.
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)
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44
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48
39
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Sun exposure
Try the sun simulator tool to see how light moves across the property at different times of day and year.
Provided by Shadowmap
Redfin Estimate for 1701 Ruddell Rd SE
$787,296
$12K over list price of $775K
Nearby comparable homes
The Redfin Estimate uses 6 recent nearby sales, priced between $630K to $984K.