About this home

Outstanding opportunity in a highly desirable Olympia location! Lot zoned for 4–8 units per acre, 53' X 110' and commercial zoning is across the street. Ideal for multifamily units (buyer to verify). All utilities are in the street. The adjacent lot with two houses that are currently rented is also for sale, 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 needs some TLC (currently rented for a VERY low $787.50, month to month). Both are 2 bedrooms, 1 bath + carport. Purchase both lots for even a bigger footprint. With alley access available (buyer to verify). A rare combination of location, income, and development potential! Do not disturb the tenants in the houses. What a great investment!

Schools

Elementary

Buyer To Verify

Middle

Buyer To Verify

High

Buyer To Verify

Property details

View: Territorial
Lot: Paved
Water source: Available, On Property
Sewer: Available, On Property
Utilities: Electricity Available, Natural Gas Available

Costs

Annual taxes: $1,824 (2026)

Estimate your monthly payment

$657/mo

Principal & interest: $505
Property taxes: $152

Down payment (20%) $19,990 Interest rate (%) Loan term (years)

Loan amount $79,960

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 Keller Williams Realty PS— Julia Galleher.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?

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