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 to earn immediate rental income while planning your next high-return investment move. Each side of the stylish and spacious duplex has been remodeled to deliver modern comfort and timeless appeal. Both Unit A and Unit B feature 3 bedrooms and 1.5 bathrooms, offering functional layouts ideal for tenants or owner-users. Owner is a licensed agent.
Sold
Listed by: eXp Realty • Haley Dawn Connor
Bought with: ZNonMember-Office-MLS
$629,900
5649 45Th Avenue SE, Lacey, WA 98503
6beds
4baths
2,360sqft
Duplex, Multi Family
Built in 1977
-- sqft lot
$633,800 Zestimate®
$267/sqft
$1,938 Estimated rent
Home value
$633,800
$589,000 - $685,000
$1,938/mo
Zestimate® history
Owner options
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$1,938/mo
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$1,938/mo
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$3,911/mo
Est. payment
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$3,911/mo
Est. payment
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List your homeWhat's special
Remodeled duplexModern comfortTimeless appealFunctional layoutsTurn-key living
Zillow last checked:
Listing updated:
Listed by:
Haley Dawn Connor,
eXp Realty
Bought with:
Unrepresentd ZDefault
ZNonMember-Office-MLS
Source: NWMLS as distributed by MLS GRID,MLS#: 2409433
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 6
- Bathrooms: 4
Heating
- Baseboard, Ductless, Electric
Cooling
- Ductless
Features
- Flooring: Laminate, Vinyl, Carpet
- Has fireplace: No
Interior area
- Total structure area: 2,360
- Total interior livable area: 2,360 sqft
Property
Parking
- Total spaces: 6
- Parking features: Open
- Covered spaces: 2
- Uncovered spaces: 4
Lot
- Size: 0.38 Acres
- Features: Corner Lot, Cul-De-Sac, Dead End Street, Fenced-Partially, High Speed Internet, Outbuildings, Patio
Details
- Parcel number: 11833130203
- Zoning description: Jurisdiction: City
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Duplex
- Property subtype: Duplex, Multi Family
Materials
- Wood Products
- Foundation: Poured Concrete
- Roof: Composition
Condition
- Updated/Remodeled
- Year built: 1977
Utilities & green energy
- Electric: Company: PSE
- Sewer: Septic Tank
- Water: Public, Company: City of Lacey
- Utilities for property: Xfinity, Xfinity
Community & HOA
Community
- Subdivision: Lacey
Location
- Region: Olympia
Financial & listing details
- Price per square foot: $267/sqft
- Tax assessed value: $503,800
- Annual tax amount: $5,234
- Date on market: 9/18/2025
- Cumulative days on market: 307 days
- Listing terms: Conventional,FHA,VA Loan
Price history
| Date | Event | Price |
|---|---|---|
| 11/7/2025 | Sold | $629,900$267/sqft |
Source:  NWMLS as distributed by MLS GRID #2409433 Report a problem | ||
| 10/6/2025 | Pending sale | $629,900$267/sqft |
Source: NWMLS as distributed by MLS GRID #2409433 Report a problem | ||
| 7/17/2025 | Listed for sale | $629,900+9.5%$267/sqft |
Source: NWMLS as distributed by MLS GRID #2409433 Report a problem | ||
| 10/21/2024 | Sold | $575,000+381.2%$244/sqft |
Source: Public Record Report a problem | ||
| 5/13/1996 | Sold | $119,500$51/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $5,234 +4.6% | $503,800 -3.7% |
| 2023 | $5,004 +31.2% | $523,400 +30.7% |
| 2022 | $3,814 +3.5% | $400,500 +26.6% |
| 2021 | $3,683 +3.7% | $316,400 +11.3% |
| 2020 | $3,551 +28.8% | $284,200 +1.3% |
| 2019 | $2,756 -11.3% | $280,500 +11.4% |
| 2018 | $3,107 +57.1% | $251,900 +27.2% |
| 2017 | $1,979 | $198,100 +21.5% |
| 2016 | $1,979 | $163,050 +7.9% |
| 2014 | $1,979 | $151,150 +2.4% |
| 2013 | -- | $147,550 |
| 2012 | $1,841 | -- |
| 2011 | -- | -- |
| 2010 | -- | -- |
| 2009 | $2,544 | -- |
| 2008 | -- | -- |
| 2007 | $2,499 -29.9% | -- |
| 2006 | $3,567 +57.4% | -- |
| 2005 | $2,266 | -- |
| 2004 | -- | -- |
| 2002 | -- | -- |
| 2001 | $1,656 -3.8% | $109,300 |
| 2000 | $1,722 | $109,300 |
Find assessor info on the county website
Neighborhood: 98503
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Nearby schools
GreatSchools rating
- 6/10Lakes Elementary SchoolGrades: K-5Distance: 0.4 mi
- 7/10Komachin Middle SchoolGrades: 6-8Distance: 0.9 mi
- 6/10Timberline High SchoolGrades: 9-12Distance: 0.4 mi
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Estimated market value
$633,800
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
$633,800
- Washington
- Thurston County
- Lacey
- 98503
- 5649 45Th Avenue SE
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