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.: Get pre-qualified

Multi Family

Built in 1978

-- sqft lot

$2,463,700 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.

54 days

272

8

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: 4/2/2026
Cumulative days on market: 55 days

Estimated market value

$2,463,700

$2.34M - $2.59M

$1,375/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

Explore the cost of this home by adjusting the details. Changes won't be saved.

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.

See how much you could borrow to make a competitive offer.

Get pre-qualified

Climate risks

Neighborhood: 98503

Getting around

46 / 100

Some Transit

Nearby schools

GreatSchools rating

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

Skip to the end of the carousel