2509 College Street SE

Lacey, WA98503

Investor Opportunity! Maximize returns with this versatile property—easily configured into three income-generating units. Ideal for multigenerational living or military buyers seeking passive income. High-visibility frontage creates the perfect setup for a home-based business, with multiple streams of revenue. Remarkable 4BR home offering exceptional versatility! Meticulously maintained, this spacious layout includes three independent living areas that can easily reconnect for multi-generational living or solid rental income. The downstairs was previously rented for $1,500/mo, the upstairs for $1,800/mo, and the separate salon unit—featuring beautiful cedar walls/ceilings and three stations—currently rents for $1,200/mo as a living space. This unit is also perfect for a home business or creative studio! Major updates were completed in 1998, and the home includes a newer roof. Enjoy massive parking for 10+ vehicles plus a 2-car carport. Ideally located near shopping, dining, and bus lines. Sold As-Is. Rate buydown and closing cost assistance are available through our partner lender!

Courtesy of NWMLS
Listing courtesy of Walter Cave of Realty One Group Enterprise



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Last checked: 2026-04-08 01:30 AM PDT