James & Angie Smith

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Listing provided courtesy of Olympic Sotheby's Int'l RealtyNWMLSas Distributed by MLSGrid- MLS# NWM2531449MLS Provider

4808 4812 15th Avenue SELacey, WA 98503

Vacant Land · 0.34 Acres
$505,000 Active

4808 4812 15th Avenue SE Overview

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One-of-a-kind development opportunity in the heart of Lacey! This exceptionally rare property consists of a fully updated single family rental with water, sewer, and power stubbed to the back of the lot for a second building site, as well as a 7500+/- sqft vacant lot stubbed with water, sewer, and power that is build ready and approved for a 2500+/- sqft duplex. With 1 updated unit already rented and 2 other building sites (3 units total) only needing building plan approvals. A turnkey development opportunity like this is hard to find. Perfect location close to amenities and I-5 for convenient north/south travel. A home run investment for any investor or developer looking to expand their portfolio.

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4808 4812 15th Avenue SE Facts & Features

  • Type Vacant Land
  • Lot 0.34 Acres

Details

General

Association/HOA

  • Association Fee: $0.00

School Information

  • School District: North Thurston

Location/Region

  • Country: US
  • County Or Parish: Thurston
  • MLS Area Major: 450 - Lacey
  • Subdivision Name: Lacey

Tax Information

  • Tax Annual Amount: $4,892.00
  • Tax Year: 2026

General Information

  • Listing Terms: Cash, Conventional, FHA, VA Loan
  • Parcel Number: 65600200701
  • Possible Use: Multi-Family,Residential
  • Property Sub Type: Land
  • Property Type: Land
  • Senior Community: No
  • Special Listing Conditions: None

Interior

Beds/Baths

  • Bedrooms Upper: 0

Building Interior

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

General Information

  • Cooling: No
  • Fireplace: No
  • Fireplaces Total: 0
  • Heating: No
  • Living Area: 0
  • Main Level Bathrooms: 0

Exterior

Lot Information

  • Irrigation Water Rights: No
  • Lot Features: Paved
  • Lot Size Acres: 0.3444
  • Lot Size Square Feet: 15000
  • Lot Size Units: Square Feet
  • Road Surface Type: Paved
  • Topography: Level
  • Elevation Units: Feet
  • Water Source: On Property

Waterfront/View

  • Waterfront: No

Building Exterior/Construction

  • Structure Type: None

General Information

  • Carport: No
  • Electric On Property: Yes
  • Sewer: Available, In Street
  • Utilities: Electricity Connected, Natural Gas Available

4808 4812 15th Avenue SE Neighborhood

Community

98503 (LACEY) Demographics

38
Median Age
3,435
Population Density (per sq. mile)
42%
College Educated
$66,021
Estimated Median Income
9,391
Estimated Total Home Owners
7,740
Estimated Total Renters
55% / 45%
Estimated Owner / Renter Divide
2
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.

4808 4812 15th Avenue SE 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.

4808 4812 15th Avenue SE Market Data

Based on the last 30 days in this zip code

$499,610
Average List Price
$278
Average Price per Square Foot
31
Properties Sold
65
Average Days on Market
143
Properties for Sale
Calculations provided by Reliance Network

4808 4812 15th Avenue SE History

Date Event Value Agent
5/29/2026Source: NWMLS Added to Database
May 29, 2026