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. Currently rented, offering immediate returns with future upside. 523 is 769 sq. ft., built in 1962, and has been updated with a newer roof, flooring, and siding, and 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 will be upon mutual acceptance of the offer. What a great investment!
Listing Provided Courtesy of Julia Galleher, Keller Williams Realty PS
General Information
NWM2516854
Single Family Residence
0
DOM
4
0.27 acres
2
1588
1962
Thurston
Buyer To Verify
Buyer To Verify
Buyer To Verify
Residential
Single Family Residence
Listing Provided Courtesy of Julia Galleher, Keller Williams Realty PS
Krishna Realty data last checked: May 01, 2026 19:25 | Listing last modified May 01, 2026 23:37,
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Residence Information
1588
4
2
0
2
Composition
10 - 1 Story
1962
None
None
Pillar/Post/Pier
Features and Utilities
Refrigerator, Stove(s)/Range(s)
Water Heater
Wood
Public
Sewer Connected
Financial
6482.38
Cash, Conventional
05-01-2026
Comparable Information
0
0
Cash, Conventional
$599,950
$599,950
May 01, 2026 23:37
Schools
Elementary : Buyer To VerifyN/ARatings Middle : Buyer To Verify N/ARatings High : Buyer To VerifyN/ARatings
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. Currently rented, offering immediate returns with future upside. 523 is 769 sq. ft., built in 1962, and has been updated with a newer roof, flooring, and siding, and 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 will be upon mutual acceptance of the offer. What a great investment!
