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  • Listed by: Virgil Adams Real Estate, Inc.
    Bought with: Group 7 Inc., Real Estate Serv
    $575,000

    2009 Water Street SW, Olympia, WA 98501

    2beds
    2baths
    1,316sqft
    Duplex
    Built in 1940
    -- sqft lot
    $574,700 Zestimate®
    $437/sqft
    $2,124 Estimated rent

    Home value

    $574,700

    $534,000 - $621,000

    $2,124/mo

    Zestimate® history
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    $3,457/mo

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    What's special

    Fantastic natural lightBeautiful territorial viewsPlenty of storageLarge picture windowsDedicated eating spacesQuiet street
    Rare opportunity in the prestigious South Capitol neighborhood! This renovated duplex is located on a quiet street just 5 blocks from the State Capitol campus and minutes from the markets and restaurants of downtown Olympia. Situated next to a serene pocket park, the property offers a peaceful setting with a strong cap rate and ATTRACTIVE OWNER FINANCING. Large picture windows provide fantastic natural light and beautiful territorial views with pleasant spots to gaze at Capitol Lake through the surrounding tall trees. The upper unit features gorgeous refinished red oak floors and a working wood stove for cozy evenings. The lower unit includes a private deck perfect for relaxing. Both units are small and highly practical, offering 1 bedroom and 1 bathroom each. The kitchens are bright with new countertops, plenty of storage, and dedicated eating spaces. Modern upgrades include new water heaters and stacked washer and dryer systems in both units. With rents increased in the last year, this is a turnkey investment or an ideal primary residence with rental income to offset the mortgage. Enjoy being close to everything the city has to offer while living in one of Olympia's most sought-after areas. This property combines charm, modern amenities, and a prime location for any savvy buyer. Don't miss out on this versatile duplex in the heart of South Capitol. Access to upper unit only, lower unit will be accessible upon signed purchase and sale agreement.

    Zillow last checked:

    Listing updated:

    Listed by:

    Spence Weigand,

    Virgil Adams Real Estate, Inc.,

    Nate Burgher,

    Virgil Adams Real Estate, Inc.

    Bought with:

    Ed Warnock, 27823

    Group 7 Inc., Real Estate Serv

    Source: NWMLS as distributed by MLS GRID,MLS#: 2499842MLS Logo

    Facts & features

    Interior

    Bedrooms & bathrooms
    • Bedrooms: 2
    • Bathrooms: 2
    Heating
    • Baseboard, Stove/Free Standing, Electric, Wood
    Cooling
    • None
    Features
    • Flooring: Hardwood, Vinyl
    • Has fireplace: No
    Interior area
    • Total structure area: 1,316
    • Total interior livable area: 1,316 sqft

    Property

    Features
    • Has view: Yes
    • View description: Lake, Territorial
    • Has water view: Yes
    • Water view: Lake
    Lot
    • Size: 0.64 Acres
    • Features: Curbs, Paved, Sidewalk, Cable TV, Deck, Gas Available, High Speed Internet, Patio
    Details
    • Parcel number: 60500201300
    • Zoning description: Jurisdiction: City
    • Special conditions: Standard

    Construction

    Type & style
    • Home type: MultiFamily
    • Architectural style: Duplex
    • Property subtype: Duplex
    Materials
    • Wood Siding
    • Foundation: Poured Concrete
    • Roof: Composition
    Condition
    • Very Good
    • Year built: 1940

    Utilities & green energy

    • Electric: Company: PSE
    • Sewer: Sewer Connected, Company: City of Olympia
    • Water: Public, Company: City of Olympia

    Community & neighborhood

    Location
    • Region: Olympia
    • Subdivision: Olympia

    Other

    Other facts
    • Listing terms: Conventional,See Remarks
    • Cumulative days on market: 29 days

    Price history

    DateEventPrice
    5/15/2026Sold$575,000$437/sqft
    Source: NWMLS as distributed by MLS GRID #2499842 Report a problem
    5/1/2026Pending sale$575,000$437/sqft
    Source: NWMLS as distributed by MLS GRID #2499842 Report a problem
    4/22/2026Price change$575,000-4.2%$437/sqft
    Source: NWMLS as distributed by MLS GRID #2499842 Report a problem
    4/3/2026Listed for sale$599,900$456/sqft
    Source: NWMLS as distributed by MLS GRID #2499842 Report a problem

    Public tax history

    Tax history is unavailable.

    Neighborhood: South Captol

    Nearby schools

    GreatSchools rating
    Schools provided by the listing agent
    • Elementary: Lincoln Elementary
    • Middle: Wash Mid
    • High: Olympia High

    Source: NWMLS as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.

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    Estimated market value
    $574,700
    Get a cash offer in 3 minutes
    Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
    Estimated market value
    $574,700