$325,000
1604 Fones Road
Olympia, WA 98501
Beds
2
Baths
1
Sq Ft
1,056
Lot
0.49 ac
Year built
1940
Type
Residential
Days listed
12
MLS #
2553249
About this home
DEVELOPMENT & INVESTMENT OPPORTUNITY! Unlock the potential of this strategically positioned property in a rapidly evolving corridor with strong future multifamily development potential. Situated on a valuable parcel, the property offers investors the opportunity to acquire and hold today while creating additional value through future redevelopment. The existing 2-bedroom, 1-bath home provides flexibility for interim rental income or personal use while exploring development plans, entitlements, or redevelopment opportunities. This unique combination of current income potential and long-term land value makes the property an attractive option for investors seeking multiple exit strategies. Ideal for investors, builders, and developers looking to capitalize on an area experiencing ongoing infrastructure improvements and growth. Generate potential income today, hold for appreciation, and position yourself for future multifamily development. A compelling opportunity to invest in the property’s current value while planning for its greater future potential.
Interior features
Exterior features
Appliances
Schools
Elementary
Mountain View Elementary
Middle
Chinook Mid
High
North Thurston High
Property details
- Heating
- Baseboard, Forced Air
- Cooling
- Forced Air
- Parking
- Driveway
- Water source
- Public
- Sewer
- Septic Tank
- Levels
- One
Costs
- Price / sq ft
- $308
- Annual taxes
- $2,686 (2026)
Estimate your monthly payment
$1,867/mo
- Principal & interest
- $1,643
- Property taxes
- $224
Estimate only — excludes homeowner's insurance and PMI. Rates shown are not a quote. Talk to us to connect with a lender.
Location
Olympia, WA 98501
Approximate location. Contact us to confirm the exact address.
Listing courtesy of eXp Realty— Ken Crotts.Listing data courtesy of the Northwest Multiple Listing Service (NWMLS). Information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change, or withdrawal.
Interested in this home?
Request a private tour or ask a question — a local agent will respond personally.