PRICE IMPROVEMENT!! Excellent Location & Strong Investment Opportunity! Well-maintained units in great condition, featuring thoughtful interior updates completed over the past few years. The property benefits from ongoing city road improvements along Fones Road, enhancing accessibility and long-term value. Ideally situated in a close-in location and very close to a freeway exit, this property offers easy commuting and excellent convenience. Enjoy stable and reliable rental income in a highly accessible area. Located within an Opportunity Zone, providing potential tax advantages and appealing estate planning considerations. Owner-occupancy may be possible in Unit A—adding flexibility for investors or owner-users alike. Recent upgrades include: New roof (2025) New water heater Updated flooring Upgraded electrical panel Don’t miss this unique investment opportunity!
Active
Listed by: Kelly Right RE of Seattle LLC • Satish Kanchukatla
Price cut: $10K (7/30)
$665,000
1438 SE Fones Rd #A&B, Olympia, WA 98501
5beds
3baths
2,383sqft
:
Get pre-qualified$4,201/mo
Duplex, Multi Family
Built in 1955
-- sqft lot
$660,300 Zestimate®
$279/sqft
$-- HOA
What's special
Updated flooringWell-maintained unitsNew water heaterThoughtful interior updatesUpgraded electrical panel
- 37 days |
- 200 |
- 4 |
Zillow last checked:
Listing updated:
Listed by:
Satish Kanchukatla,
Kelly Right RE of Seattle LLC
Source: NWMLS as distributed by MLS GRID,MLS#: 2548425
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 5
- Bathrooms: 3
Heating
- Baseboard, Electric
Cooling
- None
Features
- Flooring: Laminate, Carpet
- Windows: Thermal Windows
- Has fireplace: No
Interior area
- Total structure area: 2,383
- Total interior livable area: 2,383 sqft
Property
Parking
- Total spaces: 4
- Parking features: Garage
- Garage spaces: 2
- Uncovered spaces: 2
Lot
- Size: 0.35 Acres
- Features: Corner Lot
Details
- Parcel number: 11819140300
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Duplex
- Property subtype: Duplex, Multi Family
Materials
- Brick, Wood Siding, Wood Products
- Roof: Composition
Condition
- Year built: 1955
- Major remodel year: 1987
Utilities & green energy
- Electric: Company: PSE
- Sewer: Sewer Connected, Company: City of Olympia
- Water: Public, Company: City Of Olympia
Green energy
- Energy efficient items: Thermal Windows
Community & HOA
Community
- Subdivision: Olympia
Location
- Region: Olympia
Financial & listing details
- Price per square foot: $279/sqft
- Tax assessed value: $622,300
- Annual tax amount: $6,996
- Date on market: 5/6/2026
- Cumulative days on market: 94 days
- Listing terms: Conventional,FHA,VA Loan
Estimated market value
$660,300
$627,000 - $693,000
$2,108/mo
Price history
| Date | Event | Price |
|---|---|---|
| 7/30/2026 | Price change | $665,000-1.5%$279/sqft |
Source:  NWMLS as distributed by MLS GRID #2548425 Report a problem | ||
| 7/1/2026 | Listed for sale | $675,000+12.5%$283/sqft |
Source: NWMLS as distributed by MLS GRID #2548425 Report a problem | ||
| 6/20/2025 | Sold | $600,000-7.7%$252/sqft |
Source: NWMLS as distributed by MLS GRID #2321579 Report a problem | ||
| 5/6/2025 | Pending sale | $649,900$273/sqft |
Source: NWMLS as distributed by MLS GRID #2321579 Report a problem | ||
| 1/11/2025 | Listed for sale | $649,900+52.9%$273/sqft |
Source: NWMLS as distributed by MLS GRID #2321579 Report a problem | ||
| 7/10/2020 | Listing removed | $1,395$1/sqft |
Source: Marcoe Management, LLC Report a problem | ||
| 6/14/2020 | Listed for rent | $1,395$1/sqft |
Source: Marcoe Management, LLC Report a problem | ||
| 1/8/2020 | Listing removed | $425,000$178/sqft |
Source: Greene Realty Group LLC #1517721 Report a problem | ||
| 9/11/2019 | Listed for sale | $425,000-64.6%$178/sqft |
Source: Greene Realty Group LLC #1517721 Report a problem | ||
| 12/19/2018 | Sold | $1,200,000$504/sqft |
Source: NWMLS as distributed by MLS GRID #1370281 Report a problem | ||
| 10/6/2018 | Pending sale | $1,200,000$504/sqft |
Source: RE/MAX Parkside Affiliates #1370281 Report a problem | ||
| 10/3/2018 | Listed for sale | $1,200,000$504/sqft |
Source: RE/MAX Parkside Affiliates #1370281 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $6,592 +17.9% | $622,300 +8.5% |
| 2023 | $5,593 +3.1% | $573,800 +4.2% |
| 2022 | $5,422 -5.6% | $550,500 +15.6% |
| 2021 | $5,743 +6.9% | $476,200 +14.3% |
| 2020 | $5,372 +39.1% | $416,500 +3.7% |
| 2019 | $3,861 -5% | $401,800 +19.2% |
| 2018 | $4,062 +66.5% | $337,200 +28.5% |
| 2017 | $2,440 | $262,500 +17.8% |
| 2016 | $2,440 | $222,850 +16% |
| 2014 | $2,440 | $192,150 +4.6% |
| 2013 | -- | $183,750 |
| 2012 | $2,307 | -- |
| 2011 | -- | -- |
| 2010 | -- | -- |
| 2009 | $2,803 | -- |
| 2008 | -- | -- |
| 2007 | $2,551 -29.1% | -- |
| 2006 | $3,600 +64.9% | -- |
| 2005 | $2,183 | -- |
| 2004 | -- | -- |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: 98501
Nearby schools
GreatSchools rating
- 3/10Mountain View Elementary SchoolGrades: PK-5Distance: 1.2 mi
- 5/10Chinook Middle SchoolGrades: 6-8Distance: 1.6 mi
- 7/10North Thurston High SchoolGrades: 9-12Distance: 1.4 mi
- $449,5003 bd2 ba1.4k sqft1512-1514 Fones Rd SE, Olympia, WA 98501For Sale
- $325,0002 bd1 ba1k sqft1604 Fones Rd SE, Olympia, WA 98501Pending
- $369,9002 bd1 ba1.2k sqft1516 Fones Rd SE, Olympia, WA 98501For Sale
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- $140,0003 bd2 ba1.3k sqft1617 Fones Rd SE TRAILER 13, Olympia, WA 98501Sold
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- $305,0003 bd1 ba1k sqft3509 17th Way SE, Olympia, WA 98501Sold
A local agent can set up tours, give advice and negotiate with sellers.
A local lender can help you make sure your offer is ready when you are.
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