Outstanding opportunity in a highly desirable Olympia location! Featuring two income-producing 2-bedroom, 1-bath homes on one lot, plus a separate adjacent building lot zoned 4–8 units per acre. 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, while the front home, 521, is 839 sq. ft., built in 1965, and presents an opportunity for improvement with some TLC (currently rented for a VERY low rent of $787.50). Each residence includes an adjacent carport. Developers and investors will appreciate the flexibility—build on the additional lot 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! The listing reflects the combined sq. footage of 521 and 523, and each lot is 5,779 square feet. Taxes are $4,658.11 for 521 and 523, $1,824.27 for the lot. Recent inspections have been completed and are available upon request. Do not disturb the tenants. Viewing of the interior of 521 will be upon mutual acceptance of the offer. What a great investment!
Active
Listed by: Keller Williams Realty PS • Julia Galleher
Price cut: $98.1K (7/31)
$549,000
521 & 523 Boulevard Road SE, Olympia, WA 98501
4beds
1,588sqft
:
Get pre-qualified$3,395/mo
Single Family Residence
Built in 1962
0.27 Acres Lot
$544,300 Zestimate®
$346/sqft
$-- HOA
What's special
Newer roof
- 103 days |
- 512 |
- 16 |
Zillow last checked:
Listing updated:
Listed by:
Julia Galleher,
Keller Williams Realty PS
Source: NWMLS as distributed by MLS GRID,MLS#: 2516854
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 2
- Full bathrooms: 2
- Main level bathrooms: 2
- Main level bedrooms: 4
Primary bedroom
- Level: Main
Bedroom
- Level: Main
Bedroom
- Level: Main
Bedroom
- Level: Main
Bathroom full
- Level: Main
Bathroom full
- Level: Main
Entry hall
- Level: Main
Kitchen without eating space
- Level: Main
Living room
- Level: Main
Utility room
- Level: Main
Heating
- Baseboard, Electric
Cooling
- None
Appliances
- Included: Refrigerator, Stove(s)/Range(s), Refrigerator(s), Water Heater: Electric, Water Heater Location: Kitchen
Features
- Flooring: Vinyl, Vinyl Plank, Carpet
- Basement: None
- Has fireplace: No
Interior area
- Total structure area: 1,588
- Total interior livable area: 1,588 sqft
Property
Parking
- Total spaces: 2
- Parking features: Attached Carport
- Carport spaces: 2
Features
- Levels: One
- Stories: 1
- Entry location: Main
- Patio & porch: Water Heater
- Has view: Yes
- View description: Territorial
Lot
- Size: 0.27 Acres
- Dimensions: 110 x 53 & 110 x 53
- Features: Paved, Outbuildings
- Topography: Level
Details
- Parcel number: 48800100900
- Zoning: R-4-8
- Zoning description: Jurisdiction: City
- Special conditions: Standard
Construction
Type & style
- Home type: SingleFamily
- Architectural style: 1 Story
- Property subtype: Single Family Residence
Materials
- Wood Siding
- Roof: Composition
Condition
- Year built: 1962
Utilities & green energy
- Electric: Company: PSE
- Sewer: Sewer Connected, 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: $346/sqft
- Annual tax amount: $6,482
- Date on market: 4/30/2026
- Cumulative days on market: 104 days
- Listing terms: Conventional
- Inclusions: Refrigerator(s), Stove(s)/Range(s)
Estimated market value
$544,300
$517,000 - $572,000
$2,589/mo
Price history
| Date | Event | Price |
|---|---|---|
| 7/31/2026 | Price change | $450,950-17.9%$284/sqft |
Source:  NWMLS as distributed by MLS GRID #2562735 Report a problem | ||
| 7/22/2026 | Price change | $549,000-4.5%$346/sqft |
Source: NWMLS as distributed by MLS GRID #2516854 Report a problem | ||
| 5/20/2026 | Price change | $575,000-4.2%$362/sqft |
Source: NWMLS as distributed by MLS GRID #2516854 Report a problem | ||
| 5/1/2026 | Listed for sale | $599,950$378/sqft |
Source: NWMLS as distributed by MLS GRID #2516854 Report a problem | ||
Public tax history
Tax history is unavailable.
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: Eastside
Nearby schools
GreatSchools rating
- 7/10Madison Elementary SchoolGrades: PK-5Distance: 0.8 mi
- 8/10Reeves Middle SchoolGrades: 6-8Distance: 1.7 mi
- 9/10Olympia High SchoolGrades: 9-12Distance: 2 mi
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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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