1608 Ruddell Road SE, Lacey, WA, 98503
About This Home
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.
Getting Around
Somewhat Walkable
Some Transit
BikeableSchools
Construction
Condition
- Property condition: Good
- Year built: 1978
Materials
- Foundation: Poured Concrete,Slab
- Roof: Composition
- Construction materials: Wood Siding
Notable Dates
- Major remodel year: 1986
Type & Style
- Home type: MultiFamily
- Architectural style: 10+ Units
- Property subType: Multi Family
Interior
Bedrooms & Bathrooms
- Bedrooms: 23
- Bathrooms: 15
Features
- Flooring: Engineered Hardwood,Carpet
Heating & Cooling
- Heating features: Baseboard,Forced Air,Heat Pump,Electric
- Cooling features: None
Interior Area
- Total structure area: 12,424
- Total interior livable area: 12,424 sqft
Property
Details
- Parcel number: 43800000100
- Zoning description: Jurisdiction: City
- Special condition: Standard
Lot
- Lot size: 0.98 Acres
- Features: Paved,Sidewalk
Parking
- Total spaces: 25
- Parking features: Garage
- Attached garage spaces: 4
- Covered spaces: 4
- Uncovered spaces: 25
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Earthquake
- Heat Wave
How This Home’s Risks Compare
FEMA Declared Disasters in Thurston County and Washington
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $13,399 | $160,788 |
| Home Insurance * | $667 | $8,004 |
| Property Taxes | $1,810 | $21,720 |
| Electricity | $849 | $10,197 |
| Total | $16,725 | $200,700 |
Income You'd Need if You Spent...
Washington FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-04-02 | Price change | $1,175,000 |
| 2026-04-02 | Listed for sale | $2,650,000 |
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