Listed by Keller Williams Realty, Bought with BHGRE - Northwest Home Team
$1,300,000
SOLD FEB 7, 2025

4015 16th Ln NE Olympia, WA 98506

12 Beds
6 Baths
5,742 Sq Ft
2 Acres

Recently Sold

$226 Per Sq Ft

7% Below List Price

11 Days on Market

Highlights

  • Secluded Lot
  • No HOA
  • Patio
  • Territorial View
  • Cul-De-Sac
  • Ceramic Tile Flooring

About This Home

As of February 2025

Investors, take note! This rare opportunity in the heart of Lacey, WA, boasts three duplexes on a sprawling 2-acre lot—a prime location with endless potential. Each unit offers a spacious 2-bedroom, 1-bath, 957 sqft rambler-style layout with an attached 1-car garage, ensuring tenant comfort and convenience. With long-term tenants already in place and significant upside rent potential, this property is a solid investment. Zoned R 4-8, the lot offers exciting development possibilities for future growth. The large yard, private patios, and ample driveway parking add to the property's appeal. Don't miss your chance to own this versatile investment in a high-demand area! Estate Sale. F17 Exempt. Buyer To Verify All Information.

Last Agent to Sell the Property

Rebecca Del Pozo

Keller Williams Realty License #25940 Listed on: 12/13/2024

Keller Williams Realty

Co-Listed By

Frank Greer

Keller Williams Realty License #125829

Last Buyer's Agent

Devann Miller

BHGRE - Northwest Home Team License #21025022

BHGRE - Northwest Home Team

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 2316618

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $13,403

Year Built

  • Built in 1986

Lot Details

  • 2 Acre Lot
  • Cul-De-Sac
  • Street terminates at a dead end
  • Secluded Lot

Home Design

  • Poured Concrete
  • Composition Roof
  • Wood Siding

Interior Spaces

  • 5,742 Sq Ft Home
  • 1-Story Property
  • Territorial Views

Flooring

  • Wall to Wall Carpet
  • Ceramic Tile
  • Vinyl

Bedrooms and Bathrooms

  • 12 Bedrooms
  • 6 Bathrooms

Parking

  • 16 Parking Spaces
  • 6 Covered Spaces
  • Open Parking

Outdoor Features

  • Patio

Schools

  • Pleasant Glade Elementary School
  • Chinook Mid Middle School
  • North Thurston High School

Utilities

  • Forced Air Heating System
  • Heating System Mounted To A Wall or Window
  • Septic Tank

Community Details

  • No Home Owners Association
  • Olympia Subdivision

Listing and Financial Details

  • Assessor Parcel Number 11808310400

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$13,403

Year Built

Built in 1986

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi-Family
  • StyleCode: 55 - 5-9 Units
  • Year Built: 1986
  • MLS Status: Sold
  • Prev Status: Closed
  • New Construction: No
  • CalculatedSquareFootage: 5742
  • Special Features: None
  • Cumulative Days on Market: 95

Interior Features

  • Total Bedrooms: 12
  • Fireplace: No
  • Flooring: Ceramic Tile, Vinyl, Carpet
  • Interior Amenities: Ceramic Tile, Wall to Wall Carpet
  • Stories: 1
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0
  • BathsFullUpper: 0
  • BathsHalfUpper: 0
  • BathsThreeQuarterUpper: 0
  • BedroomsUpper: 0

Exterior Features

  • Roof: Composition
  • View: Territorial
  • Lot Features: Cul-De-Sac, Curbs, Dead End Street, Secluded, Sidewalk
  • View: Yes
  • Waterfront: No
  • Construction Type: Wood
  • Exterior Features: Wood
  • Foundation Details: Poured Concrete
  • Structure Type: Multi Family

Garage/Parking

  • Carport Y N: No
  • Covered Parking Spaces: 6
  • Open Parking Spaces: 10
  • Open Parking: Yes
  • Total Parking Spaces: 16
  • ParkingUncoveredSpaces: 10

Utilities

  • Sewer: Septic Tank
  • Water Source: Public
  • Cooling: None
  • Cooling Y N: No
  • Heating: Forced Air, Wall Unit(s)
  • Heating Yn: Yes
  • PowerCompany: PSE
  • SewerCompany: Septic
  • WaterCompany: City Of Lacey
  • WaterSewerGarbage: 4000

Condo/Co-op/Association

  • Senior Community: No
  • Association: No

Schools

  • Junior High Dist: North Thurston
  • High School: North Thurston High
  • Middle Or Junior School: Chinook Mid

Lot Info

  • Parcel Number: 11808310400
  • Lot Size Acres: 2
  • Lot Size Sq Ft: 87120
  • Zoning Description: Residential
  • Irrigation Water Rights: No
  • ResoLotSizeUnits: SquareFeet
  • ShowMapLink: true
  • SiteFeatures: Patio
  • MLSLotSizeSource: Realist
  • MLSSquareFootageSource: Realist

Green Features

  • Power Production Type: Natural Gas

Rental Info

  • GrossRentMultiplier: 18.18
  • LeasedItems: None
  • TotalMonthlyIncome: 6415

Multi Family

  • Gross Scheduled Income: 76980
  • Net Operating Income: 56077
  • Number Of Units Total: 6
  • Insurance Expense: 3500
  • Leasable Area: 5742
  • EnergySource: Natural Gas
  • UnitsInBuildingTotal: 6
  • UnitsBelowGrade: false
  • VacancyRate: 0

Tax Info

  • Year: 2024
  • Tax Annual Amount: 13403

MLS Schools

  • Elementary School: Pleasant Glade Elem

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Dec 13, 2024
Closed on
Feb 6, 2025
Sold by
Stephens Roger K and Stephens Diane M
Bought by
Miller/Munroe Properties Llc
Seller's Agent
Rebecca Del Pozo
Keller Williams Realty
Buyer's Agent
Devann Miller
BHGRE - Northwest Home Team
List Price
$1,399,999
Sold Price
$1,300,000
Premium/Discount to List
-$99,999
-7.14%
Total Days on Market
11
Views
14
Current Estimated Value
$1,266,964

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$33,036
Avg. Annual Appreciation
-7.73%

Purchase Details

Closed on
Jan 31, 2000
Sold by
Stuart Donald A
Bought by
Stephens Roger

Purchase Details

Closed on
Aug 18, 1999
Sold by
Stephens Roger K and Leduc Eloise C
Bought by
Stephens Roger K
Source: Public Records

Similar Home in the area

  • 1213 Cora St SE, Lacey, WA 98503

    $1,050,000

    • 11 Beds
    • 6 Baths
    • 4,315 Sq Ft
    • 1213 Cora St SE
    • Lacey, WA

    This single-story building offers strong fundamentals with potential for value-add improvements. All six units have been moderately updated over the years, but there remain both operational and renovation opportunities for the next owner. The units feature carpet flooring, formica countertops, white appliances, dishwashers, and double-pane vinyl windows. While these finishes are clean and

    Ben Douglas Paragon Real Estate Advisors

    Section Image

Range of Values:

Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Type Sale Price Title Company
Bargain Sale Deed $1,300,000 First American Title
Warranty Deed -- --
Interfamily Deed Transfer -- --
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
02/07/2025 02/07/25 Sold $1,300,000 -7.1% $226 / Sq Ft
12/24/2024 12/24/24 Pending -- -- --
12/13/2024 12/13/24 For Sale $1,399,999 -- $244 / Sq Ft
Source: Northwest Multiple Listing Service (NWMLS)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $13,403 $1,374,500 $682,800 $691,700
2023 $13,403 $1,347,900 $182,600 $1,165,300
2022 $8,025 $904,900 $117,200 $787,700
2021 $10,267 $643,300 $233,300 $410,000
2020 $9,869 $780,400 $293,800 $486,600
2019 $8,000 $771,400 $360,000 $411,400
2018 $7,801 $537,100 $106,700 $430,400
2017 $9,153 $669,550 $198,950 $470,600
2016 $7,444 $533,250 $166,750 $366,500
2014 -- $530,500 $176,000 $354,500
Source: Public Records

Agents Affiliated with this Home

  • Section Image
  • Section Image
  • Section Image
See All Agents

Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 2316618

Northwest Multiple Listing Service (NWMLS)

APN: 11808310400