$1,795,000
7235 20th Ave SE, Lacey, WA 98503
Long Lake Luxury +Passive Income = Dream Waterfront Setup! Over 6500sqft & flex layouts to use as 1, 2 or 3 units. Airbnb with private entrance, stays furnished & grossed $25K last yr without summer bookings! Unit A has main floor primary 3BR + den, gym-ready basement and sauna. Unit B can stay whole or split again. All have waterproof luxury vinyl plank throughout, quartz counters, separate
Jami Downing Abbey Realty Inc
Explore Lacey
$589,990
6011 Mullen Rd SE Unit A & B, Lacey, WA 98503
Opportunity is knocking! Investors looking for a great rental property or Owner Occupancy Shoppers! This duplex has been very well cared for and very well maintained. Approximately 3 years ago, both units have had new floor coverings installed, New Kitchen Countertops; Complete remodel of both bathrooms, All new interior paint, All new thermopane exterior windows, Crawl Space professionally
Scot Nicholson John L. Scott Dupont
$530,000
4511 15th Ave NE, Lacey, WA 98516
Well-maintained 2-story duplex featuring 2 Bed / 1.5 Bath per unit. Open kitchen concept with some modern updates completed within the last 7 years. Each unit includes a fully fenced backyard, ideal for privacy or pets. Newer membrane roof offers long-term durability and low maintenance. Both units are currently month-to-month with long-term tenants and strong rental history. Excellent
Andre Scott Better Properties NW
$695,000
4514 22nd Ave SE, Olympia, WA 98503
Fully REMODELED Duplex. LACEY WILL ALLOW ADDITIONAL UNIT(s) to be built, potentially making this a 4 plex! Everything has been updated: New roof; new paint; new kitchens; new bathrooms; flooring; doors; millwork; cabinets; appliances; hot water tanks and more. Vinyl windows. Easy to maintain Vinyl Plank flooring with tile in the bathrooms. Complete new bathrooms and kitchens. WASHER and DRYER
Mike Erdahl Abbey Realty Inc
$629,900
5649 45th Ave SE, Lacey, WA 98503
Welcome to a unique and lucrative opportunity for investors, developers, or owner-occupants seeking strong cash flow potential and future development upside. This remodeled duplex sits on a generous .38 acre lot, offering both turn-key living and the ability to expand and maximize value. With a use code that allows for 2-4 units and an 18 bedroom septic, this property presents the rare chance
Haley Connor eXp Realty
$2,800,000
1608 Ruddell Rd SE, Lacey, WA 98503
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,
Brian Shin TS Property Management
$705,000
643 School St SE, Lacey, WA 98503
Fantastic opportunity to own a well-maintained duplex in Lacey with a strong rental history. Add to your investment portfolio or live in one side and rent the other. Each two-story unit features 2 bedrooms, a flex room, & 1.5 baths. Main floor living space w .5 bath, upstairs hosts bedrooms/full bath. Both units have large fenced yards, in-unit washer and dryer, a private single-car garage, and
Tarah Yurovchak Redfin
$649,000
6923 20th Ave SE Unit 1, Lacey, WA 98503
Alexis Martz TRELORA Realty, Inc.
$550,000
1414 Hensley St NE Unit 1412, Olympia, WA 98516
Attention Investors: Nice duplex near city of Lacey amenities within walking distance to groceries, restaurants and bigger shopping center. This duplex is located at the end street offering privacy. Spacious fenced backyard with some trees. Nice responsible and established tenants who wish to stay. A well-maintained single-story duplex, each unit offers 2-beds, 1-bath, utility room with washer
Margo Street Networks Real Estate LLC
$600,000
4606 15th Ave NE, Olympia, WA 98516
Unique opportunity to own a potential compound or multi-generational set up. Oversized .63 acre lot features 3 bedroom 1.5 bath, well kept rambler with some updates, newer windows and freshly refinished real hardwood floors. Charming cottage is 1 bedroom, 1 bath w/ a walk-in closet and move-in ready! Possible opportunity for 3rd dwelling, w/ possible changes to the Urban Growth area. Main home on
Courtney Drennon Morrison House Sotheby's Intl
Lacey's extensive network of parks and trails creates an active, nature-focused lifestyle just 60 miles south of Seattle. The Lacey-Thurston County Regional Athletic Complex features multiple sports fields and walking trails, while Woodland Creek Community Park serves as a community hub with Long's Pond and miles of scenic paths. The Nisqually National Wildlife Refuge provides exceptional birdwatching along the river delta. Residents enjoy swimming and volleyball at Long Lake Park, plus summer concerts at Huntamer Park downtown. The Karen Fraser Woodland Trail connects neighborhoods through lush Pacific Northwest forests.
The real estate landscape in Lacey includes diverse options across distinct neighborhoods. Single-family homes comprise the primary housing stock, with a median price of $530,000. The Hawks Prairie area commands a median single-family home price of $565,000, while Indian Summer reaches $777,500. Townhomes have a median price of $390,000, and two-bedroom condos typically sell for $320,000. The overall median sale price in Lacey is $515,000.
Homeowners benefit from Washington's lack of state income tax, except for capital gains which are taxed at 7%. The effective property tax rate in Thurston County is 0.9%. The combined sales tax rate reaches 9.43%. Top-rated schools include NOVA Middle School and Pope John Paul II High School. Saint Martin's University adds a collegiate presence. Joint Base Lewis-McChord lies 15 miles north, making Lacey popular with military families. The mild climate sees summer temperatures between 75-80°F and winter temperatures from 35-45°F, with 50 inches of annual rainfall primarily between October and April.
On average, homes in Lacey, WA sell after 30 days on the market compared to the national average of 52 days. The median sale price for homes in Lacey, WA over the last 12 months is $511,550, up 2% from the median home sale price over the previous 12 months.
Lacey buyers often look for suburban comfort, outdoor access, and eco-conscious features—especially near Hawks Prairie and Jubilee.
In Lacey, there are currently 10 multi-family homes for sale, providing an appealing investment opportunity for buyers. With multi-family homes priced between $530,000 to $2,800,000, there's a range to accomodate every budget. As of September, 2025 the median home price in Lacey is $525,000, while the average sale price is $538,849, offering insights into the local housing market. On average, multi-family homes spend 30 days listed before being sold. Multi-family homes include a variety of property types, from duplexes, triplexes, and fourplexes, to apartment complexes, all within a single building divided to accommodate multiple families living separately. These multi-family properties for sale offer investors the chance to generate rental income. Whether you're considering a duplex for a beginner investment or an apartment complex for a more substantial venture, there are investment properties available to meet your requirements. Explore the range of multi-family homes for sale in Lacey, WA.
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
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. Listing information is provided by the Northwest Multiple Listing Service (NWMLS). Property information is based on available data that may include MLS information, county records, and other sources. Listings marked with the 3 tree icon and provided by NWMLS. All properties are subject to prior sale or withdrawal. IDX information is provided exclusively for consumers’ personal noncommercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, that the data is deemed reliable but is not guaranteed by MLS GRID. ©2025 NWMLS.
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