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.
Sold
Listed by: Keller Williams Realty • Rebecca Del Pozo
Bought with: BHGRE - Northwest Home Team
$1,300,000
4015 16th Lane NE, Olympia, WA 98506
12beds
6baths
5,742sqft
Multi Family
Built in 1986
-- sqft lot
$1,299,800 Zestimate®
$226/sqft
$2,154 Estimated rent
Home value
$1,299,800
$1.20M - $1.42M
$2,154/mo
Zestimate® history
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$7,965/mo
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Zillow last checked:
Listing updated:
Listed by:
Rebecca Del Pozo,
Keller Williams Realty,
Frank Greer,
Keller Williams Realty
Bought with:
Devann Miller, 21025022
BHGRE - Northwest Home Team
Source: NWMLS as distributed by MLS GRID,MLS#: 2316618
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 12
- Bathrooms: 6
Heating
- Forced Air, Wall Unit(s), Natural Gas
Cooling
- None
Features
- Flooring: Ceramic Tile, Vinyl, Carpet
- Has fireplace: No
Interior area
- Total structure area: 5,742
- Total interior livable area: 5,742 sqft
Property
Parking
- Total spaces: 16
- Parking features: Open
- Covered spaces: 6
- Uncovered spaces: 10
Features
- Patio & porch: Ceramic Tile, Wall to Wall Carpet
- Has view: Yes
- View description: Territorial
Lot
- Size: 2 Acres
- Features: Cul-De-Sac, Curbs, Dead End Street, Secluded, Sidewalk, Patio
Details
- Parcel number: 11808310400
- Zoning description: Residential
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Architectural style: 5-9 Units
- Property subtype: Multi Family
Materials
- Wood Siding
- Foundation: Poured Concrete
- Roof: Composition
Condition
- Year built: 1986
Utilities & green energy
- Electric: Company: PSE
- Sewer: Septic Tank, Company: Septic
- Water: Public, Company: City Of Lacey
Community & HOA
Community
- Subdivision: Olympia
Location
- Region: Olympia
Financial & listing details
- Price per square foot: $226/sqft
- Tax assessed value: $1,374,500
- Annual tax amount: $13,403
- Date on market: 2/27/2025
- Cumulative days on market: 510 days
- Listing terms: Conventional
Price history
| Date | Event | Price |
|---|---|---|
| 5/11/2025 | Listing removed | $1,750 |
Source: Zillow Rentals Report a problem | ||
| 5/5/2025 | Listed for rent | $1,750 |
Source: Zillow Rentals Report a problem | ||
| 2/7/2025 | Sold | $1,300,000-7.1%$226/sqft |
Source:  NWMLS as distributed by MLS GRID #2316618 Report a problem | ||
| 12/25/2024 | Pending sale | $1,399,999$244/sqft |
Source: NWMLS as distributed by MLS GRID #2316618 Report a problem | ||
| 12/13/2024 | Listed for sale | $1,399,999$244/sqft |
Source: NWMLS as distributed by MLS GRID #2316618 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $14,791 +10.4% | $1,374,500 +2% |
| 2023 | $13,403 +45% | $1,347,900 +49% |
| 2022 | $9,242 +15.2% | $904,900 +40.7% |
| 2021 | $8,025 -21.8% | $643,300 -17.6% |
| 2020 | $10,267 +28.3% | $780,400 +1.2% |
| 2019 | $8,000 +2.6% | $771,400 +13.5% |
| 2018 | $7,801 +4.8% | $679,600 +1.5% |
| 2017 | $7,444 | $669,550 +25.6% |
| 2016 | $7,444 | $533,250 +0.5% |
| 2014 | $7,444 | $530,500 |
| 2011 | -- | -- |
| 2010 | -- | -- |
| 2009 | $7,427 | -- |
| 2008 | -- | -- |
| 2007 | $6,895 -35.2% | -- |
| 2006 | $10,633 +65.6% | -- |
| 2005 | $6,421 | -- |
| 2004 | -- | -- |
| 2002 | -- | -- |
| 2000 | $6,237 | $382,000 |
Find assessor info on the county website
Neighborhood: 98506
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Nearby schools
GreatSchools rating
- 5/10Pleasant Glade Elementary SchoolGrades: PK-5Distance: 0.5 mi
- 5/10Chinook Middle SchoolGrades: 6-8Distance: 0.5 mi
- 7/10North Thurston High SchoolGrades: 9-12Distance: 0.5 mi
Schools provided by the listing agent
- Elementary: Pleasant Glade Elem
- Middle: Chinook Mid
- High: North Thurston High
Source: NWMLS as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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Estimated market value
$1,299,800
Get a cash offer in 3 minutes
Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
Estimated market value
$1,299,800
- Washington
- Thurston County
- Olympia
- 98506
- 4015 16th Lane NE
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