Fully Occupied 4-Unit
For Sale
$775,000
1701 Ruddell Rd SE, Lacey, WA 98053
Fully leased multifamily property with a varied unit configuration and convenient access to I-5, JBLM, shopping, and schools.
Property Size2,839 SF
Price / SF$272.98
Days on Market68
Property Features for 1701 Ruddell Rd SE
General Information
Standard status
Active
Size
2,839 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Highway Access
Yes
Multifamily Units
4
Building Details
Year Built
1973
Listing Agency:
TS Property Management
Listed By:
Brian Shin
(253) 249-8011
Source:
Montgomeryht
Added: Aug 20
Changed: Oct 25
Last Checked: Oct 24 at 10:01PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of TS Property Management
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Investment Insights
Based on property information with market context.
This fully occupied quadplex contains four residential units with a mix of unit types. The property is located at 1701 Ruddell Rd SE in Lacey, Washington, with nearby access to I-5, JBLM, shopping, and schools.
Key Highlights
- Fully occupied 4‑plex
- Mix of residential unit types
- Located at 1701 Ruddell Rd SE, Lacey, WA
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,884
Cap Rate
6.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$957,680
$957.7K
Cap Rate 7%
$684,057
$684.1K
Cap Rate 9%
$532,044
$532.0K
Market Conditions
NOI Build-Up for 2,839 SF
Gross rent
$72.4K $25.50/SF
− Vacancy
−$4.0K −$1.41/SF
EGI
$68.4K $24.09/SF
− OpEx
−$20.5K −$7.23/SF
NOI
$47.9K $16.87/SF
Area
King County, WA
Vacancy
5.51%
Lease Rate
$25.50 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$957,680
Cap Rate 7%
$684,057
Cap Rate 9%
$532,044
Alternative Uses
Best Use
Multifamily LT 5
$684.1K
$598.6K – $798.1K
NOI $47,884 @ 7.0% cap · market cap 6.18%
Second Best
Apartment 5plus
$630.4K
$551.6K – $735.5K
NOI $44,127 @ 7.0% cap · market cap 5.69%
Theoretical Best
Office A
$1.14M
$995.0K – $1.33M
NOI $79,596 @ 7.0% cap · market cap 10.27%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
4
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
789
Businesses Nearby
Explore this area
Business Placement
Demographics for 98053, WA
22,523
Population
8,707
Households
2.6
Avg Household Size
43
Median Age
72%
College-Educated
98%
High-School Grad
27.7 sq mi
ZIP Area
813
Density / Sq Mi
$179,912
Median Household Income
$117,839
Median Earnings
$2,737
Median Rent
$1,155,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Fully leased multifamily property with a varied unit configuration and convenient access to I-5, JBLM, shopping, and schools.
Where is this quadplex located?
The property is located at 1701 Ruddell Rd SE Lacey, WA.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Fully occupied 4‑plex; Mix of residential unit types; Located at 1701 Ruddell Rd SE, Lacey, WA
