$450,950
 $2,421 est/mo Sourced by Back At You

521 & 523 Boulevard Road,Olympia, WA 98501

Olympia, WA 98501

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Description

Outstanding opportunity in a highly desirable Olympia location! Featuring two income-producing 2-bedroom, 1-bath homes on one lot. The neighboring building lot, also zoned for 4-8 units per acre, is for sale separately. 523 is 769 sq. ft., built in 1962, and has been updated with a newer roof, flooring, and siding, and was rented for $1,670.00 a month. 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 basis 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. Interior viewing of unit 521 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.

Details

MLS #2562735
Listing TypeFor Sale
StyleHouse
Building NameFourth St Blvd Add Olympia
Sub-TypeResale
StatusActive
Year1962
Days On Site23
Listing Provided ByKeller Williams Realty PS | Julia Galleher

Features

Bed(s)4
Bath(s) 2 Total
SQ Feet1,588
Car PortYes
Story(s)1
ZoningR-4-8
Acreage0.13
Property ViewYes

Taxes

Property4658

Area Information

StateWA
CountyThurston
CityOlympia
Zip Code98501
Area447 Olympia North
Community NameOlympia
School DistrictBuyer To Verify
Elementary SchoolBuyer To Verify
High SchoolBuyer To Verify
Listing VS Median (in Olympia)
Price:
$450,950
low | high
Med:
$574,950
22.502494733341% of Average
sqft:
1,588
low | high
Med:
2,330
3.274559193955% of Average
$ / sqft:
$284
low | high
Med:
$247
63.104704565041% of Average
On site:
23
low | high
Med:
70
32.857142857143% of Average
Sourced by Back At You

Market Activity 98501

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Learn More About This Property

StateWA
CountyThurston
CityOlympia
Zip Code98501
Area447 Olympia North
Community NameOlympia
School DistrictBuyer To Verify
Elementary SchoolBuyer To Verify
High SchoolBuyer To Verify
Listing VS Median (in Olympia)
Price:
$450,950
low | high
Med:
$574,950
22.502494733341% of Average
sqft:
1,588
low | high
Med:
2,330
3.274559193955% of Average
$ / sqft:
$284
low | high
Med:
$247
63.104704565041% of Average
On site:
23
low | high
Med:
70
32.857142857143% of Average
Sourced by Back At You
Nearby Listings (Within 1/2 mile)
Price: $338K - $563K
sqft: 1,000 - 1,500
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Listing Updated: August 21, 2026 at 9:42:41 AM PDT