521 & 523 Boulevard Road SE, Olympia, WA 98501
Courtesy of Keller Williams Realty PS
- $450,950
- 4
- BD
- 2
- BA
- 1,588
- SqFt
- List Price
- $450,950
- Status
- ACTIVE
- Days on Market
- 19
- MLS#
- 2562735
- Subtype
- Residential
- Style
- 10 - 1 Story
- Year Built
- 1962
- Bedrooms
- 4
- Bathrooms
- 2
- Living Area
- 1,588
- Lot Size
- 5,779
- Acres
- 0.13
- Subdivision
- Olympia
- Neighborhood
- Olympia
- Building Name
- Fourth St Blvd Add Olympia
- MLS Area Major
- Olympia North
Property Description
Outstanding opportunity in a highly desirable Olympia location! Featuring two income-producing 2-bedroom, 1-bath homes on one lot. The neighboring building lot, also zoned for 4–8 units per acre, is for sale separately. 523 is 769 sq. ft., built in 1962, and has been updated with a newer roof, flooring, and siding, and was rented for $1,670.00 a month. 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 basis 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. Interior viewing of unit 521 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.
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Additional Information
- Interior Features
- Water Heater
- Exterior Features
- Wood
- Property Description
- 10 - 1 Story
- Flooring
- Vinyl, Vinyl Plank, Carpet
- Heating
- Baseboard
- Air Conditioning
- None
- Levels
- One
- Roof
- Composition
- Parking Features
- Attached Carport
- School District
- Olympia
- Elementary School
- Buyer To Verify
- Middle School
- Buyer To Verify
- High School
- Buyer To Verify
- View
- Territorial
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.