Outstanding opportunity in a highly desirable Olympia location! Featuring two income-producing 2-bedroom, 1-bath homes on one lot, plus a separate adjacent building lot zoned 4–8 units per acre alos for sale. Currently rented, offering immediate returns with future upside. 523 is 769 sq. ft., built in 1962, and has been… Read More 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 presents an opportunity for improvement with some TLC (currently rented on a month to month 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. Viewing of the interior 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. Read Less
Listing Snapshot
Cumulative Days On Market
3
Days on Website
2
Last Updated
Property Type
Single Family Residence
Beds
4
Square Ft.
1,588
Lot Size
0.13 Acres
Year Built
1962
Property Tax
$4,658
MLS Number
2562735
Additional Details
Lot
0 acres, Features: Paved, 5779 square feet, Dimensions: 110 x 53 & 110 X 53, View: Territorial
Building Area Total: 1588, Building Area Units: Square Feet, Building Information: Built On Lot, Building Name: Fourth St Blvd Add Olympia, Calculated Square Footage: 1588, Elevation Units: Feet, Entry Location: Main, Levels: One, Living Area: 1588, Structure Type: House, Year Built: 1962, Year Built Effective: 1965
Exterior Features
Exterior Features: Wood
Fireplaces
Fireplaces Total: 0
Floors
Flooring: Vinyl, Vinyl Plank, Carpet
Foundation
Foundation Details: Pillar/Post/Pier
Heating
Water Heater Location: Kitchen, Water Heater Type: Electric
The "three tree" icon indicates listings provided by Northwest Multiple Listing Service. The listings presented here may or may not be listed by Emmett McLaulin. The Real Estate Broker providing this data believes it to be correct, but advises interested parties to confirm the data before relying on it in a purchase decision. The information being provided is for the consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the consumers may be interested in purchasing.
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