5024 18th Avenue Se, Lacey, WA 98503

Lacey
Local realty services provided by:Better Homes and Gardens Real Estate Realty Partners
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 12, 2026 at 12:39 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
MLS LogoListings courtesy of Northwest MLS as distributed by MLS GRID. Based on information submitted to the MLS GRID as of July 12, 2026. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Listing information is provided for consumers' personal, non-commercial use, solely to identify prospective properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Information deemed reliable but not guaranteed. Copyright © 2026 MLS GRID. All Rights Reserved.

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