Rare opportunity to own a nearly 5-acre cleared homesite just minutes from town! Finding a parcel of this size, quality, and location is becoming increasingly difficult. Most of the legwork has already been completed, including conditional site approval for a 2,500± sq. ft. home, making it easier to bring your vision to life. Well and power are already on site, saving valuable time and expense. Enjoy beautiful territorial views, abundant natural light, and the peace of mind that comes with perpetual privacy. Located within the highly desirable Tumwater School District, this property offers the perfect balance of rural tranquility and everyday convenience. Whether you're ready to build now or planning for the future, this is an exceptional opportunity to create your dream home in a setting that is truly hard to replicate.
Active
Listed by: Capitol Real Estate LLC • Justin W Hjelm
$298,500
5142 Palermo Rosa Lane SW, Olympia, WA 98512
--beds
--baths
4.73Acres
Unimproved Land
Built in ----
4.73 Acres Lot
$-- Zestimate®
$--/sqft
$-- HOA
What's special
Abundant natural lightBeautiful territorial viewsPerpetual privacy
- --
- on Zillow
- 401
- views
- 52
- saves
Likely to sell faster than
Zillow last checked:
Listing updated:
Listed by:
Justin W Hjelm,
Capitol Real Estate LLC
Source: NWMLS as distributed by MLS GRID,MLS#: 2543790
Facts & features
Interior
Features
- Has fireplace: No
Interior area
- Total structure area: 0
Property
Lot
- Size: 4.73 Acres
- Features: Corner Lot
Details
- Parcel number: 12730230700
- Zoning description: Residential,Jurisdiction: County
- Special conditions: Standard
Utilities & green energy
- Electric: On Property
- Gas: Not Available
- Sewer: Not Available, Septic Design Applied
- Water: Drilled Well
- Utilities for property: Electricity Connected, Septic Design Applied
Community & HOA
Community
- Subdivision: Olympia
Location
- Region: Olympia
Financial & listing details
- Tax assessed value: $158,600
- Annual tax amount: $1,620
- Date on market: 6/24/2026
- Listing terms: Conventional
- Electric utility on property: Yes
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 6/24/2026 | Listed for sale | $298,500+29.8% |
Source:  NWMLS as distributed by MLS GRID #2543790 Report a problem | ||
| 6/30/2006 | Sold | $230,000 |
Source: NWMLS as distributed by MLS GRID #26063375 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $1,620 -7.4% | $158,600 -6.5% |
| 2024 | $1,749 -8.5% | $169,600 -7.3% |
| 2023 | $1,913 +73.2% | $183,000 +65.3% |
| 2022 | $1,104 -23.8% | $110,700 -4.1% |
| 2021 | $1,450 -2.6% | $115,400 +7.6% |
| 2020 | $1,488 +26.4% | $107,200 +0.8% |
| 2019 | $1,177 +2.1% | $106,300 +21.5% |
| 2018 | $1,154 +6.5% | $87,500 -0.3% |
| 2017 | $1,083 | $87,750 +25.8% |
| 2016 | $1,083 | $69,750 |
| 2014 | $1,083 | $69,750 +3.3% |
| 2013 | -- | $67,550 |
| 2012 | $999 | -- |
| 2011 | -- | -- |
| 2010 | -- | -- |
| 2009 | $985 | -- |
| 2008 | -- | -- |
| 2007 | $950 +63.2% | -- |
| 2006 | $582 +54.1% | -- |
| 2005 | $378 | -- |
| 2002 | -- | -- |
| 2001 | $329 -2.5% | $18,700 |
| 2000 | $337 | $18,700 |
Find assessor info on the county website
Monthly payment
Climate risks
Neighborhood: 98512
Nearby schools
Schools provided by the listing agent
- Elementary: Littlerock Elem
- Middle: George Wash Bush Mid
- High: Tumwater 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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