521 Boulevard Road Se, Olympia, WA 98501
Local realty services provided by:Better Homes and Gardens Real Estate Gary Mann Realty
Listed by: julia galleher
Office: keller williams realty ps
MLS#:2562735
Source:NWMLS
521 Boulevard Road Se,Olympia, WA 98501
$450,950
- 4 Beds
- 2 Baths
- 1,588 sq. ft.
- Single family
- Active
Price summary
- Price:$450,950
- Price per sq. ft.:$283.97
About this home
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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Home facts
- Year built:1962
- Subdivision & Development:Olympia
- Listing ID #:2562735
- Updated:September 25, 2026 at 12:23 AM
Rooms and interior
- Bedrooms:4
- Total bathrooms:2
- Full bathrooms:2
- Flooring:Carpet, Vinyl Floor, Vinyl Plank
- Kitchen Description:Refrigerator
- Bedroom Description:Main Level Bedrooms : 4
- Basement:Yes
- Living area:1,588 sq. ft.
Heating and cooling
- Heating:Baseboard
Structure and exterior
- Roof:Composition
- Year built:1962
- Building area:1,588 sq. ft.
- Lot area:0.13 Acres
- Lot Features:Paved
- Construction Materials:Wood Exterior Finish
- Foundation Description:None
- Levels:1 Story
Schools
- High school:Buyer To Verify
- Middle school:Buyer To Verify
- Elementary school:Buyer To Verify
Utilities
- Water:Public
- Sewer:Sewer Connected
Finances and disclosures
- Price:$450,950
- Price per sq. ft.:$283.97
- Tax amount:$4,658 (2026)
Features and amenities
- Appliances:Refrigerator
- Amenities:Water Heater
Parking
- Total parking spaces:2
- Parking description:Attached Carport
- Carport spaces:2
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