5024 18th Avenue Se, Lacey, WA 98503

Lacey
Local realty services provided by:RSVP Brokers ERA
Listed by: reid jones
Office: westlake associates, inc.
MLS#:2550741
Source:NWMLS
5024 18th Avenue Se,Lacey, WA 98503
$1,100,000
  • - Beds
  • - Baths
  • 5,616 sq. ft.
  • Multi-family
  • Active

Price summary

  • Price:$1,100,000
  • Price per sq. ft.:$195.87

About this home

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...

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Home facts

  • Year built:1966
  • Listing ID #:2550741
  • Updated:July 08, 2026 at 12:24 AM

Rooms and interior

  • Flooring:Carpet, Vinyl Plank
  • Living area:5,616 sq. ft.

Heating and cooling

  • Heating:Baseboard

Structure and exterior

  • Roof:Composition
  • Year built:1966
  • Building area:5,616 sq. ft.
  • Lot area:0.3 Acres
  • Lot Features:Corner, Paved
  • Construction Materials:Wood Products Exterior Finish
  • Exterior Features:Fenced-Partially

Utilities

  • Sewer:Sewer Connected

Finances and disclosures

  • Price:$1,100,000
  • Price per sq. ft.:$195.87
  • Tax amount:$8,740 (2026)

Parking

  • Total parking spaces:14
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