OFF MARKET

Listed by David Kelley • Kidder Mathews. Bought with Abbey Realty Inc.

Off market may 2022 for $1M

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Est. refi paymentEst. refi $2,054/mo

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bd

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— ba

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sq ft

8607 Steilacoom Rd SE, Olympia, WA 98513

map-entry

About this home

Kidder Mathews is please to present the Lacey Tri-Plex for sale in Olympia, WA Built in 1997, the Lacey Tri-Plex is comprised of 3-units holding one 2,600 SF duplex and one 1,800 SF apartment above a large 2 bay 2,520 SF shop. Excellent value-add opportunity, this offering holds below market rents and original interiors ripe for renovations. This unique asset is being offered to investors at a 5% cap rate with proforma market cap potential of well over a 6% cap.

Multi-familyProperty Type

1997Year Built

0.76 acresLot Size

8 spacesParking

Listed by David Kelley • Kidder Mathews

Bought with Laurie Young • Abbey Realty Inc

Redfin checked: 2 minutes ago

•Source:NWMLS as Distributed by MLS Grid #1785405

Listing provided courtesy of Northwest Multiple Listing Service (NWMLS)

Redfin Estimate

Unfortunately, we don't have enough data to generate an accurate Estimate at this time.

Market trends in 98513, WA

Last updated September 2026

Buyer's Market

Seller's Market

Seller's market

Sale-to-List Price

99.3%

0.3% MoM

Median sale price

$538K

$18K MoM

Avg. days on market

34d

9 days MoM

Recently sold homes

148

17 MoM

New listings for sale

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George Graham • John L. Scott, Inc
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Nicole Braam • COMPASS
$159,500
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Beatrice Scott • Century 21 Van Dorm Realty
$550,000
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Dani Estrada • eXp Realty
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Kathy Cross Reece • Imagine Real Estate
See all

Provided by Redfin

Sale history for 8607 Steilacoom Rd SE

Date

Event

Price

May 3, 2022

Sold (MLS) (Closed)

NWMLS as Distributed by MLS Grid #1785405

$1,000,000

Feb 15, 2022

Pending

NWMLS as Distributed by MLS Grid #1785405

—

Jan 19, 2022

Relisted (Active)

NWMLS as Distributed by MLS Grid #1785405

—

Jan 18, 2022

Pending

NWMLS as Distributed by MLS Grid #1785405

—

Jan 4, 2022

Relisted (Active)

NWMLS as Distributed by MLS Grid #1785405

—

Oct 6, 2021

Relisted (Active)

NWMLS as Distributed by MLS Grid #1785405

—

Jun 3, 2021

Listed (Active)

NWMLS as Distributed by MLS Grid #1785405

$1,050,000

Sep 24, 2013

Sold

Public Records

$350,000

Year

Property tax

Land + Additions

Assessment*

2026

$10,494 (+10.6%)

$255,000 + $758,100

$1,013,100

2025

$9,489 (−1.1%)

$255,000 + $758,100

$1,013,100

2024

$9,592 (+1.1%)

$247,400 + $666,600

$914,000

2023

$9,491 (−3.3%)

$259,700 + $744,500

$1,004,200

2022

$9,812 (−2.1%)

$284,700 + $713,500

$998,200

2021

$10,025 (+7.9%)

$265,800 + $578,500

$844,300

2020

$9,293 (+22.2%)

$94,000 + $698,100

$792,100

2019

$7,605 (−1.8%)

$217,600 + $538,100

$755,700

2018

$7,742 (+8.9%)

$124,700 + $435,800

$560,500

2017

$7,110 (+18.5%)

$124,700 + $435,800

$560,500

2016

$6,000 (−17.5%)

$118,100 + $418,200

$536,300

2015

$7,270 (+7.0%)

$87,400 + $367,400

$454,800

2014

$6,794 (+7.5%)

$95,650 + $423,300

$518,950

2013

$6,320 (+7.0%)

$95,650 + $423,300

$518,950

2012

$5,906 (+6.9%)

$95,650 + $354,800

$450,450

2011

$5,525

$67,150 + $394,300

$461,450

2010

$5,520 (−5.7%)

$62,850 + $419,200

$482,050

2009

$5,853

$80,800 + $446,500

$527,300

Tax history for 8607 Steilacoom Rd SE

Year

Property tax

Land + Additions

Assessment*

2026

$10,494 (+10.6%)

$255,000 + $758,100

$1,013,100

2025

$9,489 (−1.1%)

$255,000 + $758,100

$1,013,100

2024

$9,592 (+1.1%)

$247,400 + $666,600

$914,000

2023

$9,491 (−3.3%)

$259,700 + $744,500

$1,004,200

2022

$9,812 (−2.1%)

$284,700 + $713,500

$998,200

2021

$10,025 (+7.9%)

$265,800 + $578,500

$844,300

2020

$9,293 (+22.2%)

$94,000 + $698,100

$792,100

2019

$7,605 (−1.8%)

$217,600 + $538,100

$755,700

2018

$7,742 (+8.9%)

$124,700 + $435,800

$560,500

2017

$7,110 (+18.5%)

$124,700 + $435,800

$560,500

2016

$6,000 (−17.5%)

$118,100 + $418,200

$536,300

2015

$7,270 (+7.0%)

$87,400 + $367,400

$454,800

2014

$6,794 (+7.5%)

$95,650 + $423,300

$518,950

2013

$6,320 (+7.0%)

$95,650 + $423,300

$518,950

2012

$5,906 (+6.9%)

$95,650 + $354,800

$450,450

2011

$5,525

$67,150 + $394,300

$461,450

2010

$5,520 (−5.7%)

$62,850 + $419,200

$482,050

2009

$5,853

$80,800 + $446,500

$527,300

*Taxable value of land and structures on it ("additions") is determined regularly by local assessors and does not affect market price.

Public record

Public record
Permits

Beds

6

Baths

4

Stories

1

Lot width

—

Lot depth

—

Lot size

0.76 Acres

Year renovated

1997

Sq. Ft.

2,468

Year built

1997

Style

Multi-Family (2-4 Unit)

County

Thurston County

APN

11813241006

Parking Spaces

—

Basement

—

Accessible

—

HOA Dues

—

Garage

—

Features

—

Last updated by owner on Sep 18, 2026.

Property details

Parking

Parking Information
Parking Uncovered Spaces: 4
Covered Spaces: 4
Open Parking Spaces: 4
Has Open Parking

Interior

Multi-Family Financial Information
Insurance Expense: $1,100
Other Expense: $3,000
Net Operating Income: $57,125
Gross Adjusted Income: 71250
Gross Scheduled Income: $75,000
Total Monthly Income: 6250
Gross Rent Multiplier: 13.2
Total Expenses: 14125

Multi-Unit Information
Units Below Grade: false
Units In Building Total: 3
Vacancy Rate: 5
# of Units (Total): 3
Furnished: Unfurnished

Exterior

Building Information
Roof: Composition

Exterior Features
Exterior Features: Wood Products

Property Information
Energy Source: Electric
Style Code: 53 - Tri-plex
Property Type: Residential Income
Property Sub Type: Multi Family
Property Condition: Good

Land Information
Possible Use: Multi-Family

Lot Information
MLS Lot Size Source: Public Record
Zoning Jurisdiction: City
Lot Size Units: Square Feet
Lot Size Acres: 0.76
Lot Size Dimensions: 33105
Elevation Units: Feet

Financial

Tax Information
Tax Annual Amount: $10,025
Tax Year: 2021

Financial Information
Listing Terms: Conventional
Buyer Financing: Conventional

Utilities

Utility Information
Sewer: Sewer Connected
Water Sewer Garbage: 0

Location

School Information
High School District: North Thurston

Location Information
Directions: Continue to I-705 S // Take I-5 S to Martin Way E in Thurston County. Take exit 114 from I-5 S // Continue on Martin Way E. Drive to Steilacoom Rd SE

Public facts

Beds: 6
Baths: 4.0
Sq. Ft.: 2,468
Stories: 1.0
Lot Size: 0.76 acres
Style: Multi-Family (2-4 Unit)
Year Built: 1997
Year Renovated: 1997
County: Thurston County
APN: 11813241006

Home facts updated by county records on Sep 18, 2026

Other

Listing Information
Mls Status: Sold

Listing Date Information
On Market Date: Thursday, June 3, 2021

Green Information
Power Production Type: Electric

Home Information
Living Area Units: Square Feet
Calculated Square Footage: 0
Building Area Total: 0
Building Area Units: Square Feet
Year Built Effective: 1997
Effective Year Built Source: Public Records
Structure Type: Triplex
Stories Total: 2

Around this home

Schools

Seven Oaks Elementary School

Public PreK-5 • Assigned • 1.5mi

6/10

Nisqually Middle School

Public 6-8 • Assigned • 0.5mi

5/10

River Ridge High School

Public 9-12 • Assigned • 0.6mi

4/10

Provided by GreatSchools

Lifestyle

Provided by Walk Score and Local Logic

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

Olympia, WA • 98513

Average low and high temperatures (°F)

47

34

48

34

54

38

63

39

69

45

74

50

79

54

79

57

74

52

61

44

51

41

48

39

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Sun exposure

In this area, properties receive around 8.8 hours in June and 1.8 hours in December, placing it below the U.S. average for solar exposure.

8.8 hrs

1.8 hrs

JuneDecember

Provided by Shadowmap

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New listings for sale in 98513

COMING SOON

$599,000

4 beds2.5 baths2,673 sq ft

6913 Axis St SE, Lacey, WA 98513

Ashly Brown • RE/MAX Honors

$475,000

4 beds2.5 baths1,700 sq ft

6121 58th Ave SE, Lacey, WA 98513

Betty Holt • Olympic Sotheby's Int'l Realty

3D WALKTHROUGH

$625,000

4 beds2.5 baths2,912 sq ft

6970 Axis St SE, Lacey, WA 98513

Nichole Frandanisa • Timber Real Estate

$524,900

3 beds3 baths2,040 sq ft

9435 Summerfield Loop SE, Olympia, WA 98513

Bill VanEngelenburg • RE/MAX Realty South

$399,900

3 beds1 bath960 sq ft

807 Gregory Way SE, Olympia, WA 98513

Tiffany Curtiss • Olympic Sotheby's Int'l Realty

3D WALKTHROUGH

$600,000

2 beds2 baths1,648 sq ft

9425 Bowthorpe St SE, Lacey, WA 98513

George Graham • John L. Scott, Inc

3D WALKTHROUGH

$879,900

4 beds2.5 baths2,716 sq ft

8703 Bedington Dr SE, Olympia, WA 98513

Nicole Braam • COMPASS

$159,500

2 beds2.5 baths1,440 sq ft

9101 Steilacoom Rd SE #117, Olympia, WA 98513

Beatrice Scott • Century 21 Van Dorm Realty

$550,000

4 beds2 baths1,858 sq ft

3704 Indian Summer Ct SE, Olympia, WA 98513

Dani Estrada • eXp Realty

Home values near 8607 Steilacoom Rd SE

Data from public records.

Address	Redfin Estimate
8631 Steilacoom Rd SE, Olympia, WA 6 Beds \| 4 Baths \| 2468 Sq. Ft.	$697,134
8623 Steilacoom Rd SE Apartment A, Olympia, WA 4 Beds \| 2 Baths \| 1960 Sq. Ft.	$581,540

Address	Redfin Estimate
8621 Steilacoom Rd SE, Olympia, WA 6 Beds \| 4 Baths \| 2468 Sq. Ft.	$969,127
8619 Steilacoom Rd SE, Olympia, WA - Beds \| - Baths \| 2468 Sq. Ft.	$733,572

Address	Redfin Estimate
8645 Steilacoom Rd SE, Olympia, WA 4 Beds \| 1 Baths \| 1400 Sq. Ft.	$260,843
8619 Steilacoom Rd SE Apartment A&B, Olympia, WA - Beds \| - Baths \| 2600 Sq. Ft.	—

Property information provided by NWMLS as Distributed by MLS Grid when last listed in 2021. This data may not match . Learn more.

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