Investor Alert! Exceptional opportunity to own this 5-unit multifamily property in the heart of downtown Olympia. Rents are significantly below market presenting good upside potential for the savvy investor. The property consists of two spacious 1-bed units (620+- sq ft each), two compact 1-bed units (300+- sq ft each), and one cozy studio (200+- sq ft). Coin op laundry on site. 2-car garage off the alley has been utilized by the owner but could be converted to tenant storage for added income. All units are individually metered and are connected to city utilities. Close to restaurants, shopping, parks & more. Don't miss out on this chance to capitalize on Olympia's growing rental market. Opportunity knocks!
Sold
Listed by: Olympic Sotheby's Int'l Realty • Jeff Weeks
Bought with: eXp Realty
$600,000
806 808 Adams Street SE, Olympia, WA 98501
--beds
--baths
2,231sqft
Multi Family
Built in 1936
-- sqft lot
$596,300 Zestimate®
$269/sqft
$1,789 Estimated rent
Home value
$596,300
$549,000 - $644,000
$1,789/mo
Zestimate® history
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$3,688/mo
Est. payment
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$3,688/mo
Est. payment
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Zillow last checked:
Listing updated:
Listed by:
Jeff Weeks,
Olympic Sotheby's Int'l Realty,
Quint Newell,
Greene Commercial
Bought with:
Chantelle Whittier, 127838
eXp Realty
Source: NWMLS as distributed by MLS GRID,MLS#: 2275691
Facts & features
Interior
Heating
- Baseboard, Electric
Cooling
- None
Features
- Flooring: Vinyl, Carpet
- Has fireplace: No
Interior area
- Total structure area: 2,231
- Total interior livable area: 2,231 sqft
Property
Features
- Patio & porch: Wall to Wall Carpet
- Has view: Yes
- View description: Territorial
Lot
- Size: 5,998 Square Feet
- Features: Curbs, Paved, Sidewalk, Cable TV, Fenced-Partially, High Speed Internet
Details
- Parcel number: 68700000300
- Zoning description: Jurisdiction: City
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Architectural style: 5-9 Units
- Property subtype: Multi Family
Materials
- Wood Siding, Wood Products
- Foundation: Block, Slab
- Roof: Composition
Condition
- Fair
- Year built: 1936
- Major remodel year: 1993
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: $269/sqft
- Tax assessed value: $446,200
- Annual tax amount: $4,872
- Date on market: 8/28/2024
- Cumulative days on market: 693 days
- Listing terms: Conventional
Price history
| Date | Event | Price |
|---|---|---|
| 10/18/2024 | Sold | $600,000-7.7%$269/sqft |
Source:  NWMLS as distributed by MLS GRID #2275691 Report a problem | ||
| 9/30/2024 | Pending sale | $650,000$291/sqft |
Source: NWMLS as distributed by MLS GRID #2275691 Report a problem | ||
| 8/8/2024 | Listed for sale | $650,000$291/sqft |
Source: NWMLS as distributed by MLS GRID #2275691 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $4,678 -4% | $446,200 -4.2% |
| 2023 | $4,872 +52.8% | $465,700 +45.9% |
| 2022 | $3,188 +15% | $319,200 +37.8% |
| 2021 | $2,773 -15.5% | $231,700 -8.7% |
| 2020 | $3,280 -12.9% | $253,800 -28.1% |
| 2019 | $3,768 +17.6% | $352,900 +15.1% |
| 2018 | $3,204 +70.3% | $306,500 +58.8% |
| 2017 | $1,881 | $193,050 +6.5% |
| 2016 | $1,881 | $181,300 +20.8% |
| 2014 | $1,881 | $150,100 |
| 2011 | -- | -- |
| 2010 | -- | -- |
| 2009 | $2,386 | -- |
| 2008 | -- | -- |
| 2007 | $1,908 -33.1% | -- |
| 2006 | $2,852 +55.2% | -- |
| 2005 | $1,837 | -- |
| 2004 | -- | -- |
Find assessor info on the county website
Neighborhood: Downtown
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Nearby schools
GreatSchools rating
- 7/10Lincoln Elementary SchoolGrades: K-5Distance: 0.8 mi
- 8/10Washington Middle SchoolGrades: 6-8Distance: 2 mi
- 9/10Olympia High SchoolGrades: 9-12Distance: 1.8 mi
Schools provided by the listing agent
- 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
$596,300
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
$596,300
- Washington
- Thurston County
- Olympia
- 98501
- Downtown
- 806 808 Adams Street SE
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