Browse All 53 - Tri-plex Style Properties for Sale

Well-maintained triplex offering strong in-place performance and upside in a convenient Olympia location. Each of the three units features a 2-bedroom, 1-bath layout, with two units thoughtfully renovated to enhance comfort and efficiency. The property has benefited from strategic improvements that have increased overall performance by approximately 17%, creating a solid investment opportunity. All units are equipped with their own mini-split heat pumps for efficient heating and cooling, along with supplemental wall heaters. The upstairs unit is slightly larger and occupied by a long-term tenant, providing reliable rental history. A divided backyard offers private outdoor space for tenants. Additional income is generated through on-site coin-operated laundry. Parking is plentiful with six dedicated spaces, including three covered carport stalls. No HOA dues to impact cash flow or operations. Check out the virtual tour to see a different unit! Ideally suited for investors seeking a solid asset with modern updates, reliable tenancy, and room to continue optimizing returns.

6646 Kinwood Park Lane SE, Lacey

Listing Broker: MVP Realty Group; Marti Baker; ; Selling Office: eXp Realty.

$762,500

2420842 MLS ⋅ SOLD Status

WOW...JUST WOW. KILLER TRIPLEX IN QUIET NEIGHBORHOOD. TURN KEY AND READY TO GO FOR YOU TO LIVE IN THE HOUSE AND RENT THE OTHER TWO UNITS AND LIVE PRACTICALLY FREE. One unit is basically a house...with 4 bedrooms and two baths and 1900 SF. Recent kitchen, baths and flooring updates plus fresh interior paint. 3 bedroom unit is almost 1100 SF and has been completely gutted and redone. Beautiful new kitchen with granite counters and new appliances. Spacious bathroom with washer/dryer hookup. 2 generous sized rooms plus 1 smaller office sized bedroom. 1 bedroom unit features largo open living/dining/kitchen with stackable washer/dryer. Bedroom has full bath off of bedroom. Multiple storage units. Tons of room to add additional covered parking.

1420 MAGNOLIA Street SE, Lacey

Listing Broker: Networks Real Estate LLC; Peter Henry; ; Selling Office: Skyline Properties, Inc..

$401,000

2322284 MLS ⋅ SOLD Status

Back on Market. Great investment opportunity zoned High Density with an opportunity to build 4 units. Rehab back into a triplex or convert to duplex to sell or keep as a great cash flowing property. Rent's reflected prior to fire. The main unit features 4 beds and 1.5 baths. W/D in unit, Dishwasher, and formal living space with fireplace and private yard. 4 bedrooms and a bath upstairs with a 1/2 bath off primary. Main unit untouched by fire. The 1 bedroom unit features w/d hookups and 3/4 bath. 3 bedroom unit featured W/D, dishwasher, living/dining area, private yard and storage. Plenty of parking and 2 car ports. Units were separately metered for electricity. Sold as is.

1420 Magnolia Street SE, Lacey

Listing Broker: Windermere Prof Partners; Mark DePaul; ; Selling Office: Networks Real Estate LLC.

Start Your Search

Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Lacey, WA Triplexes for Sale

Explore Lacey three-unit residential investment properties through the saved MLS listings above. Active, pending and sold statuses and newest-first sorting are preserved. Verify current availability and the property's permitted number of dwelling units.

Evaluating a Lacey Triplex

Review leases, rent rolls, unit layouts, utility responsibilities, parking, maintenance and operating expenses. Lacey is part of the Thurston County and greater Olympia rental market; compare access to employers and transportation without assuming all neighborhoods command the same rent. Verify zoning and permits for the actual parcel.

Income and Comparable Sales

Estimate net operating income using actual collected rents and documented costs. Include vacancy, insurance, repairs, property taxes and reserves. If triplex inventory is limited, use the broader Lacey multifamily search rather than changing this page's saved filters.

Selling a Lacey Triplex

Prepare current lease and rent information, expenses and improvement records. A reliable valuation should consider local comparable sales, condition and verified income.