Listing courtesy of Keller Williams Realty PS 253-835-4500
521 & 523 Boulevard Road SE
Olympia, WA 98501
Square Ft.
1,588
$575,000
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. Currently rented, offering immediate returns with future upside. 523 is 769 sq. ft., built in 1962, and has been updated with a… Read More 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 for a VERY low rent of $787.50). Each residence includes an adjacent carport. Developers and investors will appreciate the flexibility—build on the additional lot 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! The listing reflects the combined sq. footage of 521 and 523, and each lot is 5,779 square feet. Taxes are $4,658.11 for 521 and 523, $1,824.27 for the lot. 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
23
Days on Website
21
Last Updated
Property Type
Duplex
Square Ft.
1,588
Lot Size
0.27 Acres
Year Built
1962
Property Tax
$6,482
MLS Number
2517453
Source: Home Junction
30 Days Snapshot Of 98501
$593k
+5%
(avg) sold price
43
-6%
homes sold
60
-34%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Building Area Total: 1588, Building Area Units: Square Feet, Building Name: Fourth St Blvd Add Olympia, Calculated Square Footage: 1588, Elevation Units: Feet, Leasable Area: 1588, Living Area: 0, Number Of Units Total: 2, Stories Total: 1, Structure Type: "Duplex", Units In Building Total: 2, Year Built: 1962
Expenses
Other Expense: 0
Exterior Features
Exterior Features: "Wood"
Fireplaces
Fireplaces Total: 0
Floors
Flooring: "Vinyl", "Vinyl Plank", "Carpet"
Foundation
Foundation Details: "Pillar/Post/Pier"
Garage
Garage Spaces: 0
Home Owner's Association
Association Fee: $0
Income
Net Operating Income: 32463
Lot
Features: "Paved", 0 acres, 11558 square feet, Dimensions: 110 x 53 & 110 X 53, View: "Territorial"
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