4015 16th Lane NE, Olympia, WA 98506
- $1,300,000
- 5,742
- SqFt
Listing courtesy of Keller Williams Realty. Selling Office: BHGRE - Northwest Home Team.
- Sold Price
- $1,300,000
- List Price
- $1,399,999
- Status
- SOLD
- MLS#
- 2316618
- Closing Date
- Feb 07, 2025
- Days on Market
- 11
- Style
- 55 - 5-9 Units
- Finished SqFt
- 5,742
- Area Total SqFt
- 5742
- Annual Tax Ammount
- 13403
- Lot Size (sq ft)
- 87,120
- Sewer
- Septic Tank
Property Description
Investors, take note! This rare opportunity in the heart of Lacey, WA, boasts three duplexes on a sprawling 2-acre lot—a prime location with endless potential. Each unit offers a spacious 2-bedroom, 1-bath, 957 sqft rambler-style layout with an attached 1-car garage, ensuring tenant comfort and convenience. With long-term tenants already in place and significant upside rent potential, this property is a solid investment. Zoned R 4-8, the lot offers exciting development possibilities for future growth. The large yard, private patios, and ample driveway parking add to the property's appeal. Don't miss your chance to own this versatile investment in a high-demand area! Estate Sale. F17 Exempt. Buyer To Verify All Information.
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Additional Information
- List Date
- 2025-01-27 00:00:00
- Community
- Olympia
- Net Operating Income
- $56,077
- Gross Scheduled Income
- $76,980
- Total Monthly Income
- $6,415
- Insurance Expenses
- $3,500
- Water/Sewer/Garbage Expenses
- $4,000
- Gross Rent Multiplier
- 18.18
- Total Expenses
- $20,903
- Cap Rate
- 4
- Total Number of Units
- 6
- Unit Name
- 4015
- Potential Terms
- Cash Out, Conventional
- Year Built
- 1986
- View
- Territorial
- Roof
- Composition
- Site Features
- Patio
- Energy Source
- Natural Gas
- School District
- North Thurston
- Elementary School
- Pleasant Glade Elem
- Middle School
- Chinook Mid
- High School
- North Thurston High
- Total Monthly Income
- $6,415
- Gross Scheduled Income
- $76,980
- Tax Year
- 2024
- Insurance Expense
- $3,500
- W/S/G Expenses
- $4,000
- Total Expenses
- $20,903
- Net Operating Income
- $56,077
- Gross Rent Multiplier
- 18.18
- Cap Rate
- 4
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.