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Jose Maldonado

jose@1realty.com +1(360) 510-8882

Listed by:Keller Williams Realty PS • Julia Galleher

$599,950

Est. payment - /mo

4 Beds

2 Baths

1,588 SqFt

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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 1,588 sqft

Price per Sqft $377

Subdivision Olympia

MLS Listing ID 2517453

Style 52 - Duplex

Bedrooms 4

Year Built 1962

Annual Tax Amount $6,482

Lot Size 0.265 Acres

Lot Dimensions 110 x 53 & 110 X 53

Property Sub-Type Multi Family

Property Description

Outstanding opportunity in a highly desirable Olympia location! Featuring two income-producing 2-bedroom, 1-bath homes on one lot, plus a separate adjacent building lot zoned 4–8 units per acre. Currently rented, offering immediate returns with future upside. 523 is 769 sq. ft., built in 1962, and has been updated with a newer roof, flooring, and siding, and rented for $1,670.00 a month, while the front home, 521, is 839 sq. ft., built in 1965, and presents an opportunity for improvement with some TLC (currently rented for a VERY low rent of $787.50). Each residence includes an adjacent carport. Developers and investors will appreciate the flexibility—build on the additional lot while maintaining rental income, or explore options to condominiumize or short-plat for individual resale, with alley access available (buyer to verify). A rare combination of location, income, and development potential! The listing reflects the combined sq. footage of 521 and 523, and each lot is 5,779 square feet. Taxes are $4,658.11 for 521 and 523, $1,824.27 for the lot. Recent inspections have been completed and are available upon request. Do not disturb the tenants. Viewing of the interior will be upon mutual acceptance of the offer. What a great investment! The cap rate, GSI, etc., are based on unit 521 being rented for the same amount as unit 523.

Location

State WA

County Thurston

Area 447 - Olympia North

Interior

Flooring Vinyl, Vinyl Plank, Carpet

Fireplace false

Exterior

Exterior Feature Wood

Amenities Available Outbuildings

View Y/N Yes

View Territorial

Roof Type Composition

Building

Lot Description Paved

Sewer Sewer Connected

Water Public

New Construction No

Schools

Elementary Schools Buyer To Verify

Middle Schools Buyer To Verify

High Schools Buyer To Verify

School District Olympia

Others

Senior Community No

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

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Jose Maldonado

+1(360) 510-8882

Broker | License ID: 21000158

Broker License ID: 21000158

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521 & 523 Boulevard RD SE Olympia, WA 98501

Jose Maldonado

Key Details

Location

Interior

Exterior

Building

Schools

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Nearby School & Business

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