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ONE Real Estate

broker@1realty.com +1(360) 201-0908

Listed by:Keller Williams Realty PS • Julia Galleher

$ 499,950

Est. payment -/mo

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Pending

521 & 523 Boulevard RD SE Olympia, WA 98501

4 Beds

2 Baths

1,588 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Pending

Purchase Type For Sale

Square Footage 1,588 sqft

Price per Sqft $314

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

RARE OLYMPIA INVESTMENT + DEVELOPMENT OPPORTUNITY! Two 2-bedroom, 1-bath rental homes PLUS a separate adjacent 5,779 sq. ft. building lot—all offered together at $499,950. Live in one, rent both, or explore future development possibilities while maintaining existing rental income. 523 Boulevard Rd SE is 769 sq. ft., built in 1962, and features a newer roof, siding and flooring. It was rented for $1,670/month. 521 is 839 sq. ft., built in 1965, and offers additional upside with some TLC; current rent is well below market at $787.50/month on a month-to-month basis. Each home includes a carport. The adjacent lot offers exciting potential for investors and developers. Explore building while retaining rental income, or investigate condominiumization or short-plat possibilities for individual resale. Alley access may provide additional flexibility (buyer to verify). Each lot is approximately 5,779 sq. ft. and zoning allows 4–8 units per acre. Commercial zoning is nearby on the other side of the street. Recent property-management inspections are available upon request. Combined square footage of both residences is reflected in the listing. Taxes: $4,658.11 for 521/523 and $1,824.27 for the additional lot. Please do not disturb tenants. Interior viewing of 521 upon mutual acceptance. Two homes. Two lots. Existing income. Future potential—all for $499,950!! The cap rate, GSI, etc., are based on unit 521 being rented at the same amount as 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

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

Nearby School & Business

ONE Real Estate

Broker

+1(360) 201-0908

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