Property Details
8623 Steilacoom Road SE
Lacey, WA 98513
$1,350,000
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Property Overview
Investor / Developer Opportunity – Approved 7-Lot Short Plat in Growing Lacey Market! Rare development opportunity on 1.28 acres with an existing duplex and enhanced short plat approval in place. Approved civil plans are available through the city, allowing the next owner to move forward with water and sewer extensions, sidewalks, and street tree improvements. The approved project creates a total of 7 separate lots, including: Conversion of the existing duplex into 2 townhouse lots, 5 additional single-family residential lots, 7 total buildable lots Washington State's current housing regulations may allow up to 2 ADUs per lot (buyer to verify), creating the potential for 7 primary residences plus up to 14 ADUs for significant density and income potential. Conveniently located approximately 1.5 miles from I-5, with major retail amenities including Costco and Home Depot nearby. Situated in the rapidly growing city of Lacey, home to approximately 60,000 residents, this property offers an exceptional opportunity for builders, developers, and investors seeking a shovel-ready project in a high-demand market.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
Thurston
Neighborhood
Lacey
Listed
Jun 19, 2026
Structure Type
Duplex
Parcel Number
11813241002
Tax & HOA
Annual Property Tax
$5,642 (2026)
Est. Monthly Tax
$470/mo
Financial Summary
Total Expenses
$10,342
Vacancy Rate
50.0%
Building & Use
Leasable Area
1,960 sqft
Total Units
2
Zoning
Multi-Family,Residential,See Remarks
Possible Use
Multi-Family, Residential, See Remarks
Year Built
1979
Exterior & Lot
Lot Size
1.28 sqft
Year Built
1979
Garage
2 spaces
Exterior Materials
Wood
Sewer
Available, Sewer Connected
Lot Features
Corner Lot
Exterior Features
Wood Products
Community & Access
Directions
GPS Friendly.
Location
City
Lacey
County
Thurston
Coordinates
47.04769, -122.75571
Additional Information
Tax Year
2026
Annual Taxes
$5,642
Possession
Array
Based on information submitted to the MLS GRID as of June 23, 2026 7:53 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.
