Cora Street Apartments 1213 Cora St SE Immeuble residentiel 6 lots 920 356 € (153 393 €/Lot) Taux de capitalisation 5,61 % Lacey, WA 98503

Paragon Real Estate Advisors is pleased to announce the exclusive listing of the Cora Street Apartments, a well-located 6-unit property in Lacey, WA. This single-story building offers strong fundamentals with potential for value-add improvements. All six units have been moderately updated over the years, but there remain both operational and renovation opportunities for the next owner. Current ownership does not charge back for utilities and several units are below market rent, providing a clear path to improved cash flow.
The units feature carpet flooring, formica countertops, white appliances, dishwashers, and double-pane vinyl windows. While these finishes are clean and well-maintained, upgrading to LVP flooring, stainless steel appliances, and quartz countertops could significantly enhance rental income. Each unit includes a private patio and backyard area, along with two off-street parking spaces—12 total for the property. A separate, on-site laundry room is equipped with one washer and two coin-operated dryers, all of which are owned.
Situated in the heart of Lacey, the Cora Street Apartments offer residents direct access to the Chehalis Western Trail—a 21.2-mile paved path winding through Thurston County and connecting to a broader regional trail network. The property is ideally located near major retailers such as Fred Meyer and Target, a variety of dining options, public transit, and St. Martin’s University. Just minutes from I-5, residents also enjoy seamless access to Joint Base Lewis-McChord, Downtown Olympia, and the greater Puget Sound region. This location blends outdoor recreation, urban convenience, and commuter accessibility in a highly desirable setting.