1608 Ruddell Rd SE

Lacey, WA 98503

$2,650,000
Price
23
Beds
15
Baths
12,424 Sq. Ft.
$213 / Sq. Ft.
12,424
Sq. Ft.
$213
per Sq. Ft.
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New
New
Listing provided courtesy of TS Property Management
Source: Northwest MLS

Description

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...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.
  1. Listed by Brian Shin • TS Property Management
    P: (253)-512-1000 Brian.Shin@tspmanagement.net

Property Details for 1608 Ruddell Road Southeast

Community Name
Lacey
School District
North Thurston
Number of Assigned Spaces
25
Total Covered Parking
0
Entry Date
04-02-2026
Energy Source
Electric
Sewer
Sewer Connected
LISTING UPDATED: 04/02/2026 11:43 AM

Property Details for 1608 Ruddell Road Southeast

StatusActive
MLS #2501659
Days on MarketListed Today
Cumulative Days on Market0
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1978
Lot Size0.98 AC / 42,767 SF
CountyThurston County
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Location

Listing Courtesy of TS Property Management
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Building Information for 1608 Ruddell Road Southeast

Stories2Residences13Year Built1978Building Size-Lot Size0.98 AC / 42,767 SF

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HOA Dues

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Property Information for 1608 Ruddell Road Southeast

Summary
Location and General Information
  • Style: 56 - 10+ Units
  • Area: 450 - Lacey
  • Elementary School: Mountain View Elementary
  • Middle Or Junior School: Chinook Mid
  • High School: North Thurston High
  • Effective Year Built Source: Public Records
  • Directions: From I-5, take Exit 109. Head west on Martin Way, turn left on College St, then left on Lacey Blvd. Turn right on Judd St SE. Property is on the right at 1608 Ruddell Rd SE.
  • Leased Items: None
  • Property Sub Type: MULT
  • View: No
  • Waterfront: No
Taxes and HOA Information
  • Tax Year: 2025
Parking
  • Garage Spaces: 4.0
  • Number of Carport Spaces: 0.0
  • Carport: No
  • Open Parking: No
Interior and Exterior Features
Bathroom Information
  • Full Baths Upper: 0
  • Three Quarter Baths Upper: 0
  • Half Baths Upper: 0
  • Main Level Bathrooms: 0
Bedroom Information
  • Bedrooms Upper: 0
Interior Features
  • Fireplaces Total: 0
  • Floor Covering: Engineered Hardwood, Carpet
  • Amenities: Coin Op Laundry,Storage
  • Cooling: No
  • Cooling: None
  • Fireplace: No
  • Heating: Yes
  • Heating: Baseboard, Forced Air, Heat Pump
  • FIRPTA: No
Exterior Features
  • Exterior: Wood
  • Roof: Composition
Property
Utilities
  • Water Source: Public
  • Water/Sewer/Garbage: 0
  • Power Company: PSE
  • Sewer Company: City of Lacey
  • Water Company: City of Lacey
  • Power Production Type: Electric
Property and Assessments
  • New Construction YN: No
  • Zoning Jurisdiction: City
  • Foundation: Poured Concrete, Slab
  • First Right Of Refusal: false
  • MLS Square Footage Source: Public Record
  • Preliminary Title Ordered: Yes
  • Senior Community: No
  • Special Listing Conditions: None
  • Year Built Effective: 1986
  • Photos Count: 20
Lot Information
  • Lot Details: Paved, Sidewalk
  • Lot Size Source: Public Record
  • Parcel Number Free Text: 43800000100
  • Building Condition: Good
  • Calculated Square Footage: 12424
  • Structure Type: Multi Family
  • Square Footage Finished: 0
  • Square Footage Unfinished: 0
  • Building Area Total: 12424.0
  • Building Area Units: Square Feet
  • Property Type: Residential Income
  • Elevation Units: Feet
  • Irrigation Water Rights: No
Multi Family
Building Details
  • Total Uncovered Parking: 25
  • Number of Stories in Building: 2
  • Vacancy Rate: 0
  • Number Of Units Total: 13
  • Units Below Grade: false
  • Units In Building Total: 13
Financing / Income and Expenses
  • Electric Expense: $0
  • Total Expenses: 0
  • Gross Adjusted Income: 0
  • Gross Rent Multiplier: 0
  • Gross Scheduled Income: $0
  • Insurance Expense: $0
  • Net Operating Income: $0
  • Other Expenses: $0
  • Total Monthly Income: 14790
  • Fuel Expense: $0
Unit 1
  • Name Unit 1: 1608A
  • Washer/Dryer Unit 1: true
  • Range/Oven Unit 1: true
  • Refrigerator Unit 1: true
  • Square Feet Unit 1: 1021
  • Bedrooms Unit 1: 2
  • Bathrooms Unit 1: 1
Unit 2
  • Name Unit 2: 1608B
  • Washer/Dryer Unit 2: true
  • Range/Oven Unit 2: true
  • Refrigerator Unit 2: true
  • Square Feet Unit 2: 1021
  • Bedrooms Unit 2: 2
  • Bathrooms Unit 2: 1
Unit 3
  • Name Unit 3: 1608C
  • Washer/Dryer Unit 3: true
  • Range/Oven Unit 3: true
  • Refrigerator Unit 3: true
  • Square Feet Unit 3: 1021
  • Bedrooms Unit 3: 2
  • Bathrooms Unit 3: 1
Unit 4
  • Name Unit 4: 1608D
  • Washer/Dryer Unit 4: true
  • Range/Oven Unit 4: true
  • Refrigerator Unit 4: true
  • Square Feet Unit 4: 1021
  • Bedrooms Unit 4: 2
  • Bathrooms Unit 4: 1
Unit 5
  • Name Unit 5: 1616
  • Washer/Dryer Unit 5: true
  • Range/Oven Unit 5: true
  • Refrigerator Unit 5: true
  • Square Feet Unit 5: 2164
  • Bedrooms Unit 5: 3
  • Bathrooms Unit 5: 3
Unit 6
  • Name Unit 6: 1701R1
  • Washer/Dryer Unit 6: false
  • Range/Oven Unit 6: true
  • Refrigerator Unit 6: true
  • Square Feet Unit 6: 600
  • Bedrooms Unit 6: 1
  • Bathrooms Unit 6: 1
Unit 7
  • Name Unit 7: 1701R2
  • Washer/Dryer Unit 7: false
  • Range/Oven Unit 7: true
  • Refrigerator Unit 7: true
  • Square Feet Unit 7: 600
  • Bedrooms Unit 7: 1
  • Bathrooms Unit 7: 1
Unit 8
  • Name Unit 8: 1701R3
  • Washer/Dryer Unit 8: false
  • Range/Oven Unit 8: true
  • Refrigerator Unit 8: true
  • Square Feet Unit 8: 600
  • Bedrooms Unit 8: 1
  • Bathrooms Unit 8: 1
Unit 9
  • Name Unit 9: 1701RA
  • Washer/Dryer Unit 9: true
  • Range/Oven Unit 9: true
  • Refrigerator Unit 9: true
  • Square Feet Unit 9: 1039
  • Bedrooms Unit 9: 3
  • Bathrooms Unit 9: 1
Unit 10
  • Name Unit 10: 1702J4
  • Washer/Dryer Unit 10: false
  • Range/Oven Unit 10: true
  • Refrigerator Unit 10: true
  • Square Feet Unit 10: 600
  • Bedrooms Unit 10: 1
  • Bathrooms Unit 10: 1
Unit 11
  • Name Unit 11: 1702J5
  • Washer/Dryer Unit 11: false
  • Range/Oven Unit 11: true
  • Refrigerator Unit 11: true
  • Square Feet Unit 11: 600
  • Bedrooms Unit 11: 1
  • Bathrooms Unit 11: 1
Unit 12
  • Name Unit 12: 1702J6
  • Washer/Dryer Unit 12: false
  • Range/Oven Unit 12: true
  • Refrigerator Unit 12: true
  • Square Feet Unit 12: 600
  • Bedrooms Unit 12: 1
  • Bathrooms Unit 12: 1
Unit 13
  • Name Unit 13: 1702JB
  • Washer/Dryer Unit 13: true
  • Range/Oven Unit 13: true
  • Refrigerator Unit 13: true
  • Square Feet Unit 13: 1039
  • Bedrooms Unit 13: 3
  • Bathrooms Unit 13: 1
Rental
Rent Information
  • Occupant Type: Tenant
  • Leasable Area: 11926.0

Property History for 1608 Ruddell Road Southeast

DateEvent & SourcePriceAppreciation
Apr 2, 2026

Listed (Active)

NWMLS #2501659

$2,650,000—
Apr 2, 2026

Listed (Active)

NWMLS #2501685

$1,175,000—
DateEvent & SourcePrice
04/02/2026

Listed (Active)

NWMLS #2501659

$2,650,000
04/02/2026

Listed (Active)

NWMLS #2501685

$1,175,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 1608 Ruddell Road Southeast

This home is within North Thurston Public Schools.
Rating
School
Type
Grades
Distance
Mountain View Elementary School
Public - PK to 5
Chinook Middle School
Public - 6 to 8
North Thurston High School
Public - 9 to 12
Summit VIrtual Academy
Public - K to 12
Rating
School
Distance
Mountain View Elementary School
PublicPK to 5

Chinook Middle School
Public6 to 8

North Thurston High School
Public9 to 12

Summit VIrtual Academy
PublicK to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 1608 Ruddell Road Southeast, Lacey, WA 98503

1608 Ruddell Road Southeast is a multi-family home for sale in Lacey, WA 98503. This property was listed for sale on April 2, 2026 by TS Property Management, it's currently listed at $2,650,000. This listing's school district is North Thurston Public Schools. Nearby schools include Mountain View Elementary School, Chinook Middle School and North Thurston High School. 1608 Ruddell Road Southeast is a 23-bed, 15-bath, 12,424 sqft multi-family home built in 1978.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of TS Property Management

Based on information submitted to the MLS GRID as of 04/02/2026 11:43 AM. 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. Properties displayed may be listed or sold by various participants in the MLS. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed by MLS GRID. Use of the MLS GRID data may be subject to an end user license agreement prescribed by the applicable MLS of the Member Participant, if any, and as amended from time to time.