8623 Steilacoom Road SE, Lacey, WA 98513

Property Description

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 lotsWashington 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.

Listing Status:

Active

Data Last Updated:

July 6, 2026 at 6:19AM

Listing Office:

eXp Realty : 206-829-9154

Listing Agent:

Chris Gurnee : 206-829-9154

MLS ID:

2543215

Interior

• A/C: None
• Heating: None
• Fireplace: Fireplaces: 0

Exterior

• Improvements: Fenced-PartiallyGarage
• Parking: Garage

Construction

• General: 41 - Res-Over 1 Acre

Location

• HOA Amenities: 0.0
• Originating MLS: nwmls
• School District: North Thurston
• County: Thurston

Lot

• Topography: Level
• Zoning: 11813241002
• Restrictions: No RestrictionsSee Remarks

Utilities

• Utilities: Electricity ConnectedNatural Gas AvailableElectricity on Property
• Water: In StreetSee RemarksShared Well
• Sewer: On Property

Financial

• Source: nwmls