Property Details
7438 Mullen Road SE #A-B
Lacey, WA 98503
$569,999
Pending Inspection
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Property Overview
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!
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Pending Inspection
County
Thurston
Neighborhood
Lacey
Listed
Feb 4, 2026
Original Price
$599,999
Financial Summary
Cap Rate
7.00%
Net Operating Income
$42,368
Gross Scheduled Income
$50,400
Gross Rent Multiplier
11.90
Total Expenses
$8,032
Building & Use
Building Sq Ft
1,765
Leasable Area
1,768 sqft
Total Units
2
Lot Size
13,277 sqft
Year Built
1977
Exterior & Lot
Lot Size
0.30 sqft
Year Built
1977
Garage
2 spaces
Exterior Materials
Wood
Sewer
Septic Tank
Water Source
Public
Exterior Features
Wood Products
Location
City
Lacey
County
Thurston
Coordinates
47.00579, -122.78121
Additional Information
Tax Year
2025
Annual Taxes
$5,965
Possession
Array
Based on information submitted to the MLS GRID as of May 21, 2026 8:00 PM. 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.
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. Copyright 2026 NWMLS. All rights reserved.
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. Copyright 2026 NWMLS. All rights reserved.
