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!
| MLS # | 2516854 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Building Name | Fourth St Blvd Add Olympia |
| Sub-Type | Resale |
| Status | Active |
| Year | 1962 |
| Days On Site | 124 |
| Listing Provided By | Keller Williams Realty PS | Julia Galleher |
| Bed(s) | 4 |
|---|---|
| Bath(s) | 2 Total |
| SQ Feet | 1,588 |
| Car Port | Yes |
| Story(s) | 1 |
| Zoning | R-4-8 |
| Acreage | 0.27 |
| Property View | Yes |
| Property | 6482 |
|---|
| State | WA |
|---|---|
| County | Thurston |
| City | Olympia |
| Zip Code | 98501 |
| Area | 447 Olympia North |
| Community Name | Olympia |
| School District | Buyer To Verify |
| Elementary School | Buyer To Verify |
| High School | Buyer To Verify |
| Listing VS Median (in Olympia) | |
Price: $499,950 low | high Med: $575,000 sqft: 1,588 low | high Med: 2,113 $ / sqft: $315 low | high Med: $272 On site: 124 low | high Med: 4 | |
| State | WA |
|---|---|
| County | Thurston |
| City | Olympia |
| Zip Code | 98501 |
| Area | 447 Olympia North |
| Community Name | Olympia |
| School District | Buyer To Verify |
| Elementary School | Buyer To Verify |
| High School | Buyer To Verify |
| Listing VS Median (in Olympia) | |
Price: $499,950 low | high Med: $575,000 sqft: 1,588 low | high Med: 2,113 $ / sqft: $315 low | high Med: $272 On site: 124 low | high Med: 4 | |