Duplex with Private
For Sale
$549,900
4938 Wilshire Court Se A & B, Lacey, WA 98503
Each residence includes a fenced yard, private patio, and driveway parking.
Property Size1,650 SF
Price / SF$333.27
Days on Market67
Property Features for 4938 Wilshire Court Se A & B
General Information
Standard status
Active
Size
1,650 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Amenities
fenced yard
private patio
Building Details
Year Built
1990
Buildings
1
Stories
1
Listing Agency:
Century 21 Van Dorm Realty
Listed By:
Beatrice Scott
(360) 280-7126
Source:
Chehalisvalleyrealty
Added: Aug 10
Changed: Oct 6
Last Checked: Oct 7 at 12:59PM
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 Century 21 Van Dorm Realty
Investment Insights
Based on property information with market context.
This one-level duplex contains 1,650 square feet, with two 825-square-foot residences. Each unit includes a living area, bedrooms, a fenced yard, private patio, one-car garage, and additional driveway parking. The property was built in 1990 and is positioned at the end of a cul-de-sac.
Located at 4938 Wilshire Court SE A & B in Lacey, the duplex is within walking distance of Rainier Vista Park and offers access to I-5 and JBLM. Nearby amenities include schools, medical services, restaurants, golf courses, the Chehalis Western Trail, and grocery stores. Bus service is available along Ruddell Rd.
Located at 4938 Wilshire Court SE A & B in Lacey, the duplex is within walking distance of Rainier Vista Park and offers access to I-5 and JBLM. Nearby amenities include schools, medical services, restaurants, golf courses, the Chehalis Western Trail, and grocery stores. Bus service is available along Ruddell Rd.
Key Highlights
- Two‑unit duplex totaling 1,650 square feet; each residence measures 825 sq ft
- Built in 1990 with a one‑level layout
- Each unit has a fenced yard and private patio
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,443
Cap Rate
4.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$448,860
$448.9K
Cap Rate 7%
$320,614
$320.6K
Cap Rate 9%
$249,367
$249.4K
Market Conditions
NOI Build-Up for 1,650 SF
Gross rent
$33.7K $20.40/SF
− Vacancy
−$1.6K −$0.97/SF
EGI
$32.1K $19.43/SF
− OpEx
−$9.6K −$5.83/SF
NOI
$22.4K $13.60/SF
Area
Thurston County, WA
Vacancy
4.75%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$448,860
Cap Rate 7%
$320,614
Cap Rate 9%
$249,367
Alternative Uses
Best Use
Multifamily LT 5
$320.6K
$280.5K – $374.1K
NOI $22,443 @ 7.0% cap · market cap 4.08%
Second Best
Apartment 5plus
$295.6K
$258.6K – $344.9K
NOI $20,691 @ 7.0% cap · market cap 3.76%
Theoretical Best
Office A
$483.1K
$422.7K – $563.6K
NOI $33,818 @ 7.0% cap · market cap 6.15%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
328
Businesses Nearby
Explore this area
Business Placement
Demographics for 98503, WA
40,346
Population
18,375
Households
2.2
Avg Household Size
38
Median Age
31%
College-Educated
93%
High-School Grad
11.1 sq mi
ZIP Area
3,635
Density / Sq Mi
$87,515
Median Household Income
$47,554
Median Earnings
$1,673
Median Rent
$407,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Each residence includes a fenced yard, private patio, and driveway parking.
Where is this duplex located?
The property is located at 4938 Wilshire Court Se A & B Lacey, WA.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,650 square feet; each residence measures 825 sq ft; Built in 1990 with a one‑level layout; Each unit has a fenced yard and private patio
