Rare add-value multifamily investment opportunity in Lacey! This well-maintained portfolio includes 3 tax parcels with 13 total units: one parcel features a single-family home and a 4-plex, while the other two parcels each include a 4-plex. All units are fully occupied 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.
Active
Listed by: TS Property Management
Price cut: $1.5M (4/2)
$2,650,000
1608 Ruddell Road SE, Lacey, WA 98053
23beds
15baths
12,424sqft
Est.:
Multi Family
Built in 1978
-- sqft lot
$2,537,400 Zestimate®
$213/sqft
$-- HOA
What's special
- 3 days |
- 142 |
- 5 |
Zillow last checked: 7 hours ago
Listing updated: April 02, 2026 at 11:43am
Listed by:
Brian (Seung) Shin,
TS Property Management
Source: NWMLS as distributed by MLS GRID,MLS#: 2501659
Tour with a local agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 23
- Bathrooms: 15
Heating
- Baseboard, Forced Air, Heat Pump, Electric
Cooling
- None
Features
- Flooring: Engineered Hardwood, Carpet
- Has fireplace: No
Interior area
- Total structure area: 12,424
- Total interior livable area: 12,424 sqft
Property
Parking
- Total spaces: 25
- Parking features: Garage
- Garage spaces: 4
- Uncovered spaces: 25
Lot
- Size: 0.98 Acres
- Features: Paved, Sidewalk
Details
- Parcel number: 43800000100
- Zoning description: Jurisdiction: City
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Architectural style: 10+ Units
- Property subtype: Multi Family
Materials
- Wood Siding
- Foundation: Poured Concrete, Slab
- Roof: Composition
Condition
- Good
- Year built: 1978
- Major remodel year: 1986
Utilities & green energy
- Electric: Company: PSE
- Sewer: Sewer Connected, Company: City of Lacey
- Water: Public, Company: City of Lacey
- Utilities for property: Xfinity, Xfinity
Community & HOA
Community
- Subdivision: Lacey
Location
- Region: Lacey
Financial & listing details
- Price per square foot: $213/sqft
- Date on market: 4/1/2026
- Cumulative days on market: 4 days
Estimated market value
$2,537,400
$2.41M - $2.66M
$1,632/mo
Price history
Price history
| Date | Event | Price |
|---|---|---|
| 4/2/2026 | Price change | $1,175,000-55.7%$95/sqft |
Source:  NWMLS as distributed by MLS GRID #2501685 Report a problem | ||
| 4/2/2026 | Listed for sale | $2,650,000$213/sqft |
Source: NWMLS as distributed by MLS GRID #2501659 Report a problem | ||
Public tax history
Public tax history
Tax history is unavailable.BuyAbility℠ payment
Est. payment
$14,900/mo
Principal & interest
$13111
Property taxes
$1789
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Climate risks
Neighborhood: 98503
Nearby schools
GreatSchools rating
- 5/10Mountain View Elementary SchoolGrades: PK-5Distance: 0.3 mi
- 5/10Chinook Middle SchoolGrades: 6-8Distance: 1.6 mi
- 6/10North Thurston High SchoolGrades: 9-12Distance: 1.6 mi
Schools provided by the listing agent
- Elementary: Mountain View Elementary
- Middle: Chinook Mid
- High: North Thurston High
Source: NWMLS as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
Local experts in 98503
- Washington
- Thurston County
- Lacey
- 98503
- 1608 Ruddell Road SE
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