7438 Mullen Rd SE, Unit AB

Lacey, WA 98503

$599,999
Price
4
Beds
2
Baths
1,765 Sq. Ft.
$340 / Sq. Ft.
1,765
Sq. Ft.
$340
per Sq. Ft.
front view of a house
a view of a backyard with wooden fence
a view of a yard with an outdoor space
a view of a backyard
a view of a lake from a building
a kitchen with a refrigerator a sink and a stove top oven
a kitchen with wooden floors and stainless steel appliances
an empty room with wooden floor and windows
an empty room with wooden floor and windows
an empty room with wooden floor and windows
a bathroom with a sink double vanity and a mirror
a bathroom with a granite countertop sink toilet and shower
an empty room with closet and windows
a view of storage and utility room
an empty room with wooden floor and windows
an empty room with wooden floor and windows
a kitchen with a refrigerator a sink and a stove top oven
a view of a kitchen with a sink and dishwasher a refrigerator with wooden floor
an empty room with wooden floor and windows
wooden floor in an empty room with a window
a view of hallway with wooden floor
an empty room with wooden floor and windows
a view of a hallway with wooden floor and staircase
a bathroom with a sink a toilet and mirror
a view of a backyard with a small cabin
a front view of house with yard and green space
a view of a backyard with a small cabin
a view of backyard with green space
a view of a backyard with a garden
Listing provided courtesy of Realty One Group Bold
Source: Northwest MLS

Description

Well-maintained duplex tucked away on a quiet street in a highly desirable Lacey location, conveniently close to schools, shopping, and everyday amenities. This side-by-side property features two spacious 2-bedroom, 1-bath units, each with an attached garage and private fenced yard — an attractive setup for both tenants and owner-occupants. Designed with a functional, conventional layout, each unit offers a large living area, generous kitchen with direct backyard access, and in-unit washer and dryer....Well-maintained duplex tucked away on a quiet street in a highly desirable Lacey location, conveniently close to schools, shopping, and everyday amenities. This side-by-side property features two spacious 2-bedroom, 1-bath units, each with an attached garage and private fenced yard — an attractive setup for both tenants and owner-occupants. Designed with a functional, conventional layout, each unit offers a large living area, generous kitchen with direct backyard access, and in-unit washer and dryer. Strong rental history with recent upgrades. This desirable investment creates flexibility for investors or those looking to offset their mortgage through house hacking. With consistent rental performance, fair-market rents, and solid construction, this property presents an excellent opportunity to add a reliable asset to your investment portfolio. Units A and B are currently rented for $2,100 apiece!
  1. Listed by Tucker Stanley • Realty One Group Bold

Property Details for 7438 Mullen Road Southeast, Unit AB

Community Name
Lacey
School District
North Thurston
View
Territorial
Total Covered Parking
2
Entry Date
02-04-2026
Energy Source
Electric
Sewer
Septic Tank
LISTING UPDATED: 02/05/2026 10:28 AM

Property Details for 7438 Mullen Road Southeast, Unit AB

StatusActive
MLS #2476490
Days on Market3
Cumulative Days on Market3
Taxes$5,965 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1977
Lot Size0.30 AC / 13,275 SF
CountyThurston County

Location

Listing Courtesy of Realty One Group Bold
Add your commute

Building Information for 7438 Mullen Road Southeast, Unit AB

Stories1Residences2Year Built1977Building Size-Lot Size0.30 AC / 13,275 SF

Payment Calculator

$3,421 per month

30 year fixed, 6.15% Interest

Principal and Interest

$2,924

Property Taxes

$497

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 7438 Mullen Road Southeast, Unit AB

Summary
Location and General Information
  • Style: 52 - Duplex
  • Site Features: Fenced-Partially, Patio
  • Area: 450 - Lacey
  • Elementary School: Woodland Elem
  • Middle Or Junior School: Komachin Mid
  • High School: Timberline High
  • Effective Year Built Source: Public Records
  • Directions: South on Carpenter Road. Turn Right at the stop light on 45th and follow road around. Property will be on your left.
  • Leased Items: None
  • Property Sub Type: MULT
  • View: Yes
  • Waterfront: No
Taxes and HOA Information
  • Tax Year: 2025
Parking
  • Garage Spaces: 2.0
  • Number of Carport Spaces: 2.0
  • 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
  • Bedrooms Possible: 4
Interior Features
  • Fireplaces Total: 0
  • Floor Covering: Laminate, Vinyl
  • Cooling: No
  • Cooling: None
  • Fireplace: No
  • Heating: Yes
  • Heating: Wall Unit(s)
  • FIRPTA: No
Exterior Features
  • Exterior: Wood Products
  • Roof: Composition
  • Security Features: Partially Fenced
Property
Utilities
  • Water Source: Public
  • Water/Sewer/Garbage: 0
  • Power Company: PSE
  • Water Company: City of Lacey
  • Power Production Type: Electric
Property and Assessments
  • New Construction YN: No
  • First Right Of Refusal: false
  • MLS Square Footage Source: Assessor
  • Preliminary Title Ordered: Yes
  • Senior Community: No
  • Special Listing Conditions: None
  • Year Built Effective: 1977
  • Photos Count: 37
Lot Information
  • Lot Size Source: Assessors
  • Parcel Number Free Text: 55650000400
  • Calculated Square Footage: 1765
  • Structure Type: Duplex
  • Square Footage Finished: 0
  • Square Footage Unfinished: 0
  • Building Area Total: 1765.0
  • Building Area Units: Square Feet
  • Property Type: Residential Income
  • Elevation Units: Feet
  • Irrigation Water Rights: No
Multi Family
Building Details
  • Total Uncovered Parking: 2
  • Number of Stories in Building: 1
  • Unit Number: A-B
  • Vacancy Rate: 0
  • Number Of Units Total: 2
  • Units Below Grade: false
Financing / Income and Expenses
  • Electric Expense: $0
  • Total Expenses: 8032
  • Gross Adjusted Income: 54000
  • Gross Rent Multiplier: 11.9
  • Gross Scheduled Income: $50,400
  • Insurance Expense: $2,067
  • Net Operating Income: $42,368
  • Other Expenses: $0
  • Total Monthly Income: 4200
  • Fuel Expense: $0
Unit 1
  • Name Unit 1: A
  • Washer/Dryer Unit 1: true
  • Refrigerator Unit 1: true
  • Dishwasher Unit 1: true
  • Square Feet Unit 1: 884
  • Rent Unit 1: $2,100.00
  • Bedrooms Unit 1: 2
  • Fireplaces Unit 1: 0
  • Bathrooms Unit 1: 1
Unit 2
  • Name Unit 2: B
  • Washer/Dryer Unit 2: true
  • Range/Oven Unit 2: true
  • Refrigerator Unit 2: true
  • Dishwasher Unit 2: true
  • Square Feet Unit 2: 881
  • Rent Unit 2: $2,100.00
  • Bedrooms Unit 2: 2
  • Fireplaces Unit 2: 0
  • Bathrooms Unit 2: 1
Rental
Rent Information
  • Occupant Type: Tenant
  • Leasable Area: 1768.0

Property History for 7438 Mullen Road Southeast, Unit AB

DateEvent & SourcePriceAppreciation
Feb 4, 2026

Listed (Active)

NWMLS #2476490

$599,999—
Apr 6, 2021

Sold

NWMLS #1737722

$425,000—
Mar 9, 2021

Pending

NWMLS #1737722

—
Mar 4, 2021

Listed (Active)

NWMLS #1737722

$375,000—
Oct 18, 2006

Sold

NWMLS #26132207

$229,000—
Sep 6, 2006

Pending

NWMLS #26132207

—
Aug 8, 2006

Listed (Active)

NWMLS #26132207

$229,000—
DateEvent & SourcePrice
02/04/2026

Listed (Active)

NWMLS #2476490

$599,999
04/06/2021

Sold

NWMLS #1737722

$425,000
03/09/2021

Pending

NWMLS #1737722

—
03/04/2021

Listed (Active)

NWMLS #1737722

$375,000
10/18/2006

Sold

NWMLS #26132207

$229,000
09/06/2006

Pending

NWMLS #26132207

—
08/08/2006

Listed (Active)

NWMLS #26132207

$229,000

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

Schools near 7438 Mullen Road Southeast, Unit AB

This home is within North Thurston Public Schools.
Rating
School
Type
Grades
Distance
Woodland Elementary School
Public - K to 5
Komachin Middle School
Public - 6 to 8
Timberline High School
Public - 9 to 12
Aspire Middle School
Public - 6 to 8
Rating
School
Distance
Woodland Elementary School
PublicK to 5

Komachin Middle School
Public6 to 8

Timberline High School
Public9 to 12

Aspire Middle School
Public6 to 8

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 7438 Mullen Road Southeast, Unit AB, Lacey, WA 98503

7438 Mullen Road Southeast, Unit AB is a multi-family home for sale in Lacey, WA 98503. This property was listed for sale on February 4, 2026 by Realty One Group Bold, it's currently listed at $599,999. It has been on the market for a total of 3 days and was last sold on April 6, 2021. This listing's school district is North Thurston Public Schools. Nearby schools include Woodland Elementary School, Komachin Middle School and Timberline High School. 7438 Mullen Road Southeast, Unit AB is a 4-bed, 2-bath, 1,765 sqft multi-family home built in 1977.

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 Realty One Group Bold

Based on information submitted to the MLS GRID as of 02/05/2026 10:28 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.