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$1,100,000
2550741 MLS ⋅ ACTIVE 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..

$1,350,000
2543213 MLS ⋅ ACTIVE Status
Investor / Developer Opportunity – Approved 7-Lot Short Plat in Growing Lacey Market! Rare development opportunity on 1.28 acres with an existing duplex and enhanced short plat approval in place. Approved civil plans are available through the city, allowing the next owner to move forward with water and sewer extensions, sidewalks, and street tree improvements. The approved project creates a total of 7 separate lots, including: Conversion of the existing duplex into 2 townhouse lots, 5 additional single-family residential lots, 7 total buildable lots Washington State's current housing regulations may allow up to 2 ADUs per lot (buyer to verify), creating the potential for 7 primary residences plus up to 14 ADUs for significant density and income potential. Conveniently located approximately 1.5 miles from I-5, with major retail amenities including Costco and Home Depot nearby. Situated in the rapidly growing city of Lacey, home to approximately 60,000 residents, this property offers an exceptional opportunity for builders, developers, and investors seeking a shovel-ready project in a high-demand market.

8623 Steilacoom Road SE, Lacey

Listing courtesy of eXp Realty.

$1,350,000
2543215 MLS ⋅ ACTIVE Status
Investor / Developer Opportunity – Approved 7-Lot Short Plat in Growing Lacey Market! Rare development opportunity on 1.28 acres with an existing duplex and enhanced short plat approval in place. Approved civil plans are available through the city, allowing the next owner to move forward with water and sewer extensions, sidewalks, and street tree improvements. The approved project creates a total of 7 separate lots, including:Conversion of the existing duplex into 2 townhouse lots, 5 additional single-family residential lots, 7 total buildable lotsWashington State's current housing regulations may allow up to 2 ADUs per lot (buyer to verify), creating the potential for 7 primary residences plus up to 14 ADUs for significant density and income potential.Conveniently located approximately 1.5 miles from I-5, with major retail amenities including Costco and Home Depot nearby. Situated in the rapidly growing city of Lacey, home to approximately 60,000 residents, this property offers an exceptional opportunity for builders, developers, and investors seeking a shovel-ready project in a high-demand market.

8623 Steilacoom Road SE, Lacey

Listing courtesy of eXp Realty.

$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.

$1,200,000
3 Beds ⋅ 3 Baths ⋅ 2532679 MLS ⋅ ACTIVE Status
Golf course living @ its finest—overlooking the 14th fairway & 15th tee box @ Capitol City Golf Club, w/a finished 28x36 shop offering endless possibilities rarely found in golf course community. Take ur golf cart to FireCreek Grill for dinner, drinks, & golf-course gatherings just mins from ur front door. This custom single-level home offers the perfect blend of luxury, recreation, & versatility on a private, fully fenced half-acre lot. Inside, quality craftsmanship shines throughout w/custom millwork, designer finishes, spacious living areas, & gourmet kitchen designed for everyday comfort & entertaining. The flexible floor plan easily accommodates guests, home office, or changing lifestyle needs. The detached shop is a true standout. Complete w/220 power & ductless heating/cooling, it provides exceptional flexibility for hobbies, recreation, storage, a workshop, home-based business, fitness space, studio, collector vehicles, or future ADU potential (buyer to verify). Opportunities to own a property w/this level of adaptable space & functionality are increasingly rare. Outdoor living is equally impressive w/a covered deck featuring a fireplace, private entertaining spaces, mature landscaping, & peaceful golf course views. After a round of golf, relax, entertain, or simply enjoy the tranquil setting yr-round. Combining premium golf course frontage, luxury single-level living, & unmatched versatility, this property delivers a lifestyle tailored to how you live, work, & play.

5140 66th Avenue SE, Lacey

Listing courtesy of BHGRE - Northwest Home Team.

$1,175,000
2501685 MLS ⋅ ACTIVE Status
Rare add-value multifamily investment opportunity in Lacey! Features fully occupied a single-family home and a 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.

1608 Ruddell Road SE, Lacey

Listing courtesy of TS Property Management.

$1,175,000
4 Beds ⋅ 3 Baths ⋅ 2490805 MLS ⋅ ACTIVE Status
Unrivaled no bank waterfront on Long Lake! Find yourself in the most serene part of the lake. Here you will not find high speed boats and jet skis but you can still enjoy them by easy access to the part of the lake that allows. In this part of Long Lake you will find plentiful wildlife and bird watching. This home boasts comfortable Cortec Smart core solid surface flooring, solar panels, Hot Tub, Electric car hookup, garage large enough for either three cars or two cars and a boat. On demand water heater for no cold showers! Extra plush carpet with high end pad. PABCO Prestige 50-year roof installed 2025, New paint, Boat lift with key fob to operate while in the boat. Very close to I5, restaurants, and shopping. Come see today!

1722 Timberlake Court SE, Lacey

Listing courtesy of Keller Williams South Sound.

$1,399,000
2063929 MLS ⋅ ACTIVE Status
ICONIC LACEY COMMERCIAL PROPERTY - Three separate buildings. Lacey Shoe Repair in the main building with an amazing 2BR residential remodeled unit above. Another Large Separate Building in front with current tenants (with 2 car garage), and a stand alone Small House behind with cute yard. Monthly income of $7,500 (and another space currently unrented, which could get another ~$2,000/month). Many development possibilities at this high traffic exposure corner!

4221 Pacific Avenue SE, Lacey

Listing courtesy of RE/MAX Parkside Affiliates.

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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