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$1,100,000
2550741 MLS ⋅ PENDING INSPECTION Status
The Lacey 8 is an eight-unit apartment property in one of the South Sound’s most stable rental markets, offered as a true value-add opportunity. The property is made up of four two-bedroom/one- bathroom units and four one-bedroom/one-bathroom units, a mix that rents well and stays full. In-place rents are well below market, creating immediate and measurable upside for a new owner. The seller also does not currently bill back utilities, leaving a clear path to additional income through a RUBS or flat-fee utility program. Adding to the appeal, the seller is offering seller financing to qualified buyers at 5% interest-only for five years with 25% down. The property is in solid physical shape, which makes the value-add plan lower risk. It offers 14 on-site parking stalls, an on-site communal laundry facility, and newer roof systems installed with-in the last several years. The electrical panels have been updated throughout, the windows are double-pane vinyl, and the exterior siding is in good condition with no major deferred maintenance. The units are in mixed condition: some are still original, while others have already been moderately renovated with newer LVP flooring. Adding LVP flooring, stainless-steel appliances, in-unit dishwashers, and quartz countertops at turnover can drive both higher rents and long-term value.

5024 18th Avenue SE, Lacey

Listing courtesy of Westlake Associates, Inc..

$1,299,950
2534852 MLS ⋅ ACTIVE Status
Excellent quality newer investment opportunity offered substantially under assessed value. Two duplexes featuring 3 bedrooms, 2.5 bath each. All 4 units feature 2 car garages. Both duplexes feature extensive solid surface flooring granite counters throughout, stainless appliances, high efficiency mini split heat pump systems with air conditioning, and energy efficient insulation and lighting packages. Built in 2019 and exceptionally maintained. Long term leases in place and a great cap rate with room for continued growth. Exteriors feature custom accents and fenced yards. Close to all amenities and freeway access, with great schools nearby.

1214 Hall Street SE Unit #A&B, Lacey

Listing courtesy of Blue Summit Realty LLC.

$775,000
2501702 MLS ⋅ ACTIVE Status
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.

1701 Ruddell Road SE, Lacey

Listing courtesy of TS Property Management.

$775,000
2501707 MLS ⋅ ACTIVE Status
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.

1702 Judd Street SE, Lacey

Listing courtesy of TS Property Management.

$805,000
2378647 MLS ⋅ SOLD Status
Great investment opportunity! Sitting on just over 3/4 of an acre, this 4plex offers two units upstairs and two downstairs. Each unit has 2 bedrooms, 1 bathroom, a dining room, a kitchen and a large balcony or patio with a storage closet. There is a carport with 4 stalls and 4 additional parking spaces. Mature landscaping gives off a park like setting, while being very close to shopping. Walking distance even!All units are occupied and on a month to month contract.

8024 N Bicentennial Loop SE, Lacey

Listing courtesy of St Clair Realty. Selling Office: Networks Real Estate LLC.

$985,000
2217088 MLS ⋅ SOLD Status
Prime investment opportunity in the heart of Lacey! This immaculately maintained 4-Plex unit is nestled in a peaceful cul-de-sac in an 18 building complex. Each of the 4 units features 1000 square feet of living space, 2 bedrooms, 1 bathroom, and attached garage, with W/D hookups. Updated kitchens in all units, and all but 1 unit has laminate. Owner covers W/S split through the HOA. Unit B has just been updated with a brand new bathroom and is currently vacant. New 40 year roof was put on in 2022, with new gutters. Exterior of building was also repainted in 2022. This building is close to the busline, freeway, and minutes to JBLM. Very low turnovers during ownership.

6122 Glen Mary Lane SE Unit #A-D, Lacey

Listing courtesy of Realty One Group Bold. Selling Office: Realty One Group Orca.

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.
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