Exceptional investment and redevelopment opportunity in one of Olympia’s fastest-growing corridors! Situated on approximately one acre and surrounded by newer residential development, this property is zoned HDC-4, allowing for significant density and a wide range of housing options. Preliminary analysis indicates the potential for approximately 60–70 units with building heights up to 75 feet (buyer to verify all development potential with the City of Olympia). The existing home provides immediate utility while plans are made for future development, creating an ideal hold-and-develop scenario. With strong demand for housing, excellent access to shopping, services, and major transportation routes, this is a rare chance to secure a high-density site in a rapidly evolving area. Whether you're a builder, developer, or investor, the possibilities here are substantial. Opportunities like this are increasingly hard to find—bring your vision and capitalize on the growth happening all around you. Buyer to verify all information to their satisfaction. All utilities are on site. Sewer stub is now available right at the property line.
Active
Listed by: Century 21 Blue Chip • Greg Pubols
$995,000
423 Franz Anderson Road SE, Olympia, WA 98501
2beds
2,883sqft
Single Family Residence
Built in 1930
1.02 Acres Lot
$944,700 Zestimate®
$345/sqft
$-- HOA
What's special
- 83 days
- 121
- 3
Zillow last checked:
Listing updated:
Listed by:
Greg Pubols,
Century 21 Blue Chip
Source: NWMLS as distributed by MLS GRID,MLS#: 2540889
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 2
- Bathrooms: 2
- Full bathrooms: 1
- 3/4 bathrooms: 1
- Main level bathrooms: 2
- Main level bedrooms: 2
Primary bedroom
- Level: Main
Bedroom
- Level: Main
Bathroom full
- Level: Main
Bathroom three quarter
- Level: Main
Dining room
- Level: Main
Entry hall
- Level: Main
Kitchen without eating space
- Level: Main
Living room
- Level: Main
Heating
- Forced Air, Electric, Natural Gas
Cooling
- None
Features
- Flooring: Hardwood
- Basement: None
- Has fireplace: No
Interior area
- Total structure area: 2,883
- Total interior livable area: 2,883 sqft
Property
Parking
- Total spaces: 2
- Parking features: Attached Carport
- Carport spaces: 2
Features
- Levels: One
- Stories: 1
- Entry location: Main
- Has view: Yes
- View description: Territorial
Lot
- Size: 1.02 Acres
- Dimensions: 202' x 207' x 201' x 210'
- Features: Value In Land
- Topography: Level
Details
- Parcel number: 41700200000
- Zoning: HDC-4
- Special conditions: Standard
Construction
Type & style
- Home type: SingleFamily
- Architectural style: 1 Story
- Property subtype: Single Family Residence
Materials
- Wood Siding, Wood Products
- Foundation: Poured Concrete
- Roof: Composition
Condition
- Year built: 1930
- Major remodel year: 1982
Utilities & green energy
- Electric: Company: PSE
- Sewer: Available, Septic Tank, Company: City of Olympia
- Water: Public, Company: City of Olympia
Community & HOA
Community
- Subdivision: Olympia
Location
- Region: Olympia
Financial & listing details
- Price per square foot: $345/sqft
- Tax assessed value: $430,400
- Annual tax amount: $1,036
- Date on market: 6/16/2026
- Cumulative days on market: 85 days
- Listing terms: Conventional
Estimated market value
$944,700
$897,000 - $992,000
$2,395/mo
Price history
| Date | Event | Price |
|---|---|---|
| 6/17/2026 | Listed for sale | $995,000+298.4%$345/sqft |
Source:  NWMLS as distributed by MLS GRID #2540889 Report a problem | ||
| 8/12/2016 | Sold | $249,719-0.1%$87/sqft |
Source: NWMLS as distributed by MLS GRID #938025 Report a problem | ||
| 5/18/2016 | Pending sale | $249,950$87/sqft |
Source: Windermere Professional Partners #938025 Report a problem | ||
| 5/14/2016 | Listed for sale | $249,950-23.1%$87/sqft |
Source: Windermere Professional Partners #938025 Report a problem | ||
| 9/16/2013 | Listing removed | $324,990$113/sqft |
Source: Keller Williams - Olympia #505488 Report a problem | ||
| 7/3/2013 | Listed for sale | $324,990$113/sqft |
Source: Keller Williams - Olympia #505488 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $951 -82.8% | $430,400 -23.3% |
| 2023 | $5,518 +1.3% | $561,000 +2.4% |
| 2022 | $5,446 -1.1% | $548,100 +21% |
| 2021 | $5,509 +13.5% | $453,000 +21.4% |
| 2020 | $4,855 +28.4% | $373,000 +8.7% |
| 2019 | $3,780 -5% | $343,100 +5.1% |
| 2018 | $3,981 +37.2% | $326,500 +31.8% |
| 2017 | $2,902 | $247,700 +3.9% |
| 2016 | $2,902 | $238,450 +5.6% |
| 2014 | $2,902 | $225,700 |
| 2011 | -- | -- |
| 2010 | -- | -- |
| 2009 | $2,762 | -- |
| 2008 | -- | -- |
| 2007 | $2,786 -14.1% | -- |
| 2006 | $3,244 +72.1% | -- |
| 2005 | $1,885 | -- |
| 2004 | -- | -- |
| 2001 | $1,504 -3.6% | $99,700 |
| 2000 | $1,560 | $99,700 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
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Neighborhood: 98501
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