$499,950
 $2,684 est/mo Sourced by Back At You

521 & 523 Boulevard Road,Olympia, WA 98501

Olympia, WA 98501

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Description

RARE OLYMPIA INVESTMENT + DEVELOPMENT OPPORTUNITY! Two 2-bedroom, 1-bath rental homes PLUS a separate adjacent 5,779 sq. ft. building lot-all offered together at $499,950. Live in one, rent both, or explore future development possibilities while maintaining existing rental income. 523 Boulevard Rd SE is 769 sq. ft., built in 1962, and features a newer roof, siding and flooring. It was rented for $1,670/month. 521 is 839 sq. ft., built in 1965, and offers additional upside with some TLC; current rent is well below market at $787.50/month on a month-to-month basis. Each home includes a carport. The adjacent lot offers exciting potential for investors and developers. Explore building while retaining rental income, or investigate condominiumization or short-plat possibilities for individual resale. Alley access may provide additional flexibility (buyer to verify). Each lot is approximately 5,779 sq. ft. and zoning allows 4-8 units per acre. Commercial zoning is nearby on the other side of the street. Recent property-management inspections are available upon request. Combined square footage of both residences is reflected in the listing. Taxes: $4,658.11 for 521/523 and $1,824.27 for the additional lot. Please do not disturb tenants. Interior viewing of 521 upon mutual acceptance. Two homes. Two lots. Existing income. Future potential-all for $499,950!

Details

MLS #2516854
Listing TypeFor Sale
StyleHouse
Building NameFourth St Blvd Add Olympia
Sub-TypeResale
StatusActive
Year1962
Days On Site124
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
Acreage0.27
Property ViewYes

Taxes

Property6482

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:
$499,950
low | high
Med:
$575,000
34.988498849885% of Average
sqft:
1,588
low | high
Med:
2,113
16.939546599496% of Average
$ / sqft:
$315
low | high
Med:
$272
63.564475235976% of Average
On site:
124
low | high
Med:
4
100% 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:
$499,950
low | high
Med:
$575,000
34.988498849885% of Average
sqft:
1,588
low | high
Med:
2,113
16.939546599496% of Average
$ / sqft:
$315
low | high
Med:
$272
63.564475235976% of Average
On site:
124
low | high
Med:
4
100% of Average
Sourced by Back At You
Nearby Listings (Within 1/2 mile)
Price: $374K - $624K
sqft: 1,000 - 1,500
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Listing Updated: August 31, 2026 at 5:58:20 PM PDT