Active

Listed by: TS Property Management • Brian (Seung) Shin

$2,650,000

1608 Ruddell Road SE, Lacey, WA 98053

23beds

15baths

12,424sqft

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Multi Family

Built in 1978

-- sqft lot

$2,441,300 Zestimate^®

$213/sqft

$-- HOA

What's special

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.

100 days

219

9

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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: 4/2/2026
Cumulative days on market: 101 days

Estimated market value

$2,441,300

$2.32M - $2.56M

$1,556/mo

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

Tax history is unavailable.

Monthly payment

Est. payment

Payment breakdown

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All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.

HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.

Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.

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Climate risks

Neighborhood: 98503

Getting around

66 / 100

Somewhat Walkable

46 / 100

Some Transit

51 / 100

Bikeable

Nearby schools

GreatSchools rating

3/10
Mountain View Elementary School
Grades: PK-5Distance: 0.3 mi
5/10
Chinook Middle School
Grades: 6-8Distance: 1.6 mi
7/10
North Thurston High School
Grades: 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.