See all 29 photos

Listed by:Keller Williams Realty PS • Julia Galleher

$450,950

Est. payment - /mo

Save

4 Beds

2 Baths

1,588 SqFt

New

521 & 523 Boulevard RD SE Olympia, WA 98501

Save

REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Ryan Born

ryan@born-realty.com +1(206) 498-0342

UPDATED:

Key Details

Property Type Single Family Home

Sub Type Single Family Residence

Listing Status Active

Purchase Type For Sale

Square Footage 1,588 sqft

Price per Sqft $283

Subdivision Olympia

MLS Listing ID 2562735

Style 10 - 1 Story

Bedrooms 4

Full Baths 2

Year Built 1962

Annual Tax Amount $4,658

Lot Size 5,779 Sqft

Lot Dimensions 110 x 53 & 110 X 53

Property Sub-Type Single Family Residence

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 alos for sale. 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 on a month to month for a VERY low rent of $787.50). Each residence includes an adjacent carport. Developers and investors will appreciate the flexibility, purchase the adjacent lot and build 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! Each lot is 5,779 square feet. 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

Rooms

Basement None

Main Level Bedrooms 4

Interior

Interior Features Water Heater

Flooring Vinyl, Vinyl Plank, Carpet

Fireplace false

Appliance Refrigerator, Stove(s)/Range(s)

Exterior

Exterior Feature Wood

Amenities Available Outbuildings

View Y/N Yes

View Territorial

Roof Type Composition

Building

Lot Description Paved

Story One

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

"Three Trees" icon indicates a listing provided courtesy of NWMLS.

Mortgage Calculator

/monthly

Breakdown

Mortgage values are calculated by Lofty and are for illustration purposes only, accuracy is not guaranteed.

Amenities & Attractions

Restaurants

Home Services

Health & Medical

Local Services

Shopping

Recreation

Food

Beauty

Nightlife

Event Planning & Services

Religious Organizations

Financial Services

Professional Services

Travel

Education

Pets

Eastside Big Tom

2023 4th Ave E, Olympia, WA 98506

Burgers Phone: 360-357-4852

Educational Environment

Elementary Schools (2)Middle Schools (1)High Schools (1)

Name

WORK WITH US

Reach out to an expert real estate agent today. Dive into the world of luxury real estate with guidance from our devoted team. Your dream home is within reach.

SELLER SERVICES

We take the stress out of selling your home by providing a seamless experience from start to finish. Our team will put you in the best position to market your home and sell it for the highest possible price.