$325,000
 $1,745 est/mo Sourced by Back At You

1604 Fones Road,Olympia, WA 98501

Olympia, WA 98501

Share:

Description

Exceptional Investment & Development Opportunity! Situated on a prime shy half-acre parcel in a high-density zoning area, this property offers outstanding potential for investors, developers, or those seeking long-term appreciation. Ideally located along Fones Road, the property is positioned to benefit from significant infrastructure improvements currently underway, including newly constructed streets and upgraded utilities, further enhancing its future value and development potential. The existing 2-bedroom, 1-bath home is undergoing a complete renovation with quality finishes throughout, creating an attractive, move-in-ready residence or income-producing rental. Renovations include an open-concept floor plan, stylish high-end finishes, and durable luxury vinyl plank flooring throughout. Whether you're looking to generate immediate rental income while planning future development or secure a property in a rapidly improving corridor, this is a rare opportunity to capitalize on both current cash flow and future multifamily development potential.

Details

MLS #2553249
Listing TypeFor Sale
StyleHouse
Sub-TypeResale
StatusPending
Year1940
Days On Site42
Listing Provided ByeXp Realty | Ken Crotts

Features

Bed(s)2
Bath(s) 1 Total
SQ Feet1,056
Story(s)1
ZoningRW-24
Acreage0.49

Taxes

Property2686

Area Information

StateWA
CountyThurston
CityOlympia
Zip Code98501
Area448 Olympia South
Community NameOlympia
School DistrictNorth Thurston High
Elementary SchoolMountain View Elementary
High SchoolNorth Thurston High
Listing VS Median (in Olympia)
Price:
$325,000
low | high
Med:
$574,950
26.907692307692% of Average
sqft:
1,056
low | high
Med:
2,280
65.909090909091% of Average
$ / sqft:
$308
low | high
Med:
$252
68.024382182993% of Average
On site:
42
low | high
Med:
41.5
100% of Average
Sourced by Back At You

Market Activity 98501

Request a showing

Request a showing

Contact


Additional Information


Showing Information


Submit Form

Required Field
By submitting, you agree to receive promotional texts and/or calls from Coldwell Banker Best Homes at the number provided. Message/data rates may apply. Consent is not a condition of purchase, and you can opt out anytime by replying STOP.

 The three trees icon appears on listings courtesy of NWMLS.

The Northwest Multiple Listing Service (NWMLS) provides Internet Data Exchange (IDX) information exclusively for personal, non-commercial use. This data is intended solely to help consumers identify prospective properties they may be interested in purchasing. While the information is deemed reliable, it is not guaranteed. Users are advised to independently verify the accuracy of all information.

Based on information submitted to the MLS GRID as of August 26, 2026 at 3:51:12 AM PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

 Listings courtesy of NWMLS as distributed by MLS GRID. DMCA Notice - The Digital Millennium Copyright Act of 1998, 17 U.S.C. § 512 (the “DMCA”) provides recourse for copyright owners who believe that material appearing on the Internet infringes their rights under U.S. copyright law. If you believe in good faith that any content or material made available in connection with our website or services infringes your copyright, you (or your agent) may send us a notice requesting that the content or material be removed, or access to it blocked. Notices must be sent in writing by email to: suppport@realistiq.com “The DMCA requires that your notice of alleged copyright infringement include the following information: (1) description of the copyrighted work that is the subject of claimed infringement; (2) description of the alleged infringing content and information sufficient to permit us to locate the content; (3) contact information for you, including your address, telephone number and email address; (4) a statement by you that you have a good faith belief that the content in the manner complained of is not authorized by the copyright owner, or its agent, or by the operation of any law; (5) a statement by you, signed under penalty of perjury, that the information in the notification is accurate and that you have the authority to enforce the copyrights that are claimed to be infringed; and (6) a physical or electronic signature of the copyright owner or a person authorized to act on the copyright owner’s behalf. Failure to include all of the above information may result in the delay of the processing of your complaint.

Contact

Learn More About This Property

StateWA
CountyThurston
CityOlympia
Zip Code98501
Area448 Olympia South
Community NameOlympia
School DistrictNorth Thurston High
Elementary SchoolMountain View Elementary
High SchoolNorth Thurston High
Listing VS Median (in Olympia)
Price:
$325,000
low | high
Med:
$574,950
26.907692307692% of Average
sqft:
1,056
low | high
Med:
2,280
65.909090909091% of Average
$ / sqft:
$308
low | high
Med:
$252
68.024382182993% of Average
On site:
42
low | high
Med:
41.5
100% of Average
Sourced by Back At You
Nearby Listings (Within 1/2 mile)
Price: $243K - $406K
sqft: 792 - 1,000
Nearby Listings Property ImageNearby Listings Details
3928 21st Avenue 22 Property Photo 1
$99,990
3928 21st Avenue 22
Lacey, WA 98503
Listing Updated: August 20, 2026 at 8:09:24 AM PDT