James & Angie Smith

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Listing provided courtesy of Blue Summit Realty LLCNWMLSas Distributed by MLSGrid- MLS# NWM2528928MLS Provider

3120 Ponderosa Street NELacey, WA 98516

Multi-Family · 6 Beds · 3,484 Sq. ft. | 0.11 Acres
$849,950 Active

3120 Ponderosa Street NE Overview

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Rare opportunity to own a newer duplex featuring 3 large bedrooms plus a bonus room, 2.5 baths and 1,742 sqft per unit, along with a 2-car garage. Gateway North neighborhood is well-kept w/ a cohesive look. Located in a very strong rental area, this duplex has great potential for positive cash flow. Units feature solid surface flooring throughout, granite counters throughout, stainless appliances, high efficiency mini split heat pump systems with air conditioning, and energy efficient insulation and lighting packages. Built in 2020 and exceptionally well maintained. Long term leases in place and a great cap rate with room for continued growth. Exterior features custom siding accents and fenced rear yards. Convenient to all amenities and freeway access.

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3120 Ponderosa Street NE Facts & Features

  • Type Multi-Family
  • Sq. ft. 3,484
  • Price/Sq.ft. $244
  • Lot 0.11 Acres

Details

General

Association/HOA

  • Association Fee: $660.00
  • Association Fee Frequency: Annually

School Information

  • School District: North Thurston

Income/Expenses

  • Other Expense: 660
  • Electric Expense: 0
  • Fuel Expense: 0
  • Gross Scheduled Income: 60540
  • Insurance Expense: 1550
  • Net Operating Income: 47641
  • Total Expenses: 12293
  • Total Monthly Income: 5045
  • Water/Sewer/Garbage: 0

Building Information

  • Building Name: Gateway North
  • New Construction: No
  • Year Built: 2020

Location/Region

  • Country: US
  • County Or Parish: Thurston
  • MLS Area Major: 446 - Thurston Ne
  • Subdivision Name: Lacey

Tax Information

  • Tax Annual Amount: $10,083.00
  • Tax Year: 2026

General Information

  • Listing Terms: Cash, Conventional, VA Loan
  • Parcel Number: 50330000700
  • Possible Use: Multi-Family
  • Property Condition: Very Good
  • Property Sub Type: Multi Family
  • Property Type: Residential Income
  • Senior Community: No
  • Special Listing Conditions: None

Interior

Parking Information

  • Garage Spaces: 4

Beds/Baths

  • Bedrooms Upper: 0

Building Interior

  • Building Area Total: 3484
  • Building Area Units: Square Feet
  • Calculated Square Footage: 3484
  • Square Footage Finished: 0
  • Square Footage Unfinished: 0

General Information

  • Cooling: Yes
  • Fireplace: No
  • Fireplaces Total: 0
  • Flooring: Vinyl Plank
  • Foundation Details: Poured Concrete
  • Heating: Yes
  • Leasable Area: 3484
  • Living Area: 0
  • Main Level Bathrooms: 0
  • Power Production Type: Electric
  • Security Features: Partially Fenced
  • Stories Total: 2

Exterior

Parking Information

  • Open Parking: No
  • Parking Total: 8
  • Parking Uncovered Total: 4

Lot Information

  • Irrigation Water Rights: No
  • Lot Features: Curbs, Paved, Sidewalk
  • Lot Size Acres: 0.1088
  • Lot Size Square Feet: 4740
  • Lot Size Units: Square Feet
  • Site Features: Cable TV, Fenced-Partially, High Speed Internet, Patio
  • Elevation Units: Feet
  • Water Source: Public

Waterfront/View

  • View: No
  • Waterfront: No

Building Exterior/Construction

  • Roof: Composition
  • Structure Type: Duplex

General Information

  • Carport Spaces: 0
  • Carport: No
  • Covered Spaces: 4
  • Exterior Features: Cement/Concrete, Wood, Wood Products
  • Number Of Units Total: 2
  • Sewer: Sewer Connected

Unit Information

Unit 2 Details

  • Actual Rent: 2500
  • Beds Total: 3
  • Baths Total: 3

Unit 1 Details

  • Actual Rent: 2545
  • Beds Total: 3
  • Baths Total: 3

3120 Ponderosa Street NE Neighborhood

Community

98516 (Lacey) Demographics

40
Median Age
596
Population Density (per sq. mile)
51%
College Educated
$83,249
Estimated Median Income
7,348
Estimated Total Home Owners
2,423
Estimated Total Renters
75% / 25%
Estimated Owner / Renter Divide
3
Estimated Average Household Size
Community data courtesy of LiveBy, Inc.

Schools

School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

3120 Ponderosa Street NE Monthly Cost

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* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

3120 Ponderosa Street NE Market Data

Based on the last 30 days in this zip code

$678,229
Average List Price
$312
Average Price per Square Foot
35
Properties Sold
55
Average Days on Market
167
Properties for Sale
Calculations provided by Reliance Network

3120 Ponderosa Street NE History

Date Event Value Agent
5/27/2026Source: NWMLS Added to Database
May 27, 2026