Active · Residential
423 Franz Anderson Road SE, Olympia, WA 98501
Olympia, WA 98501
$995,000
2 bedrooms · 2 bathrooms · 1,848 sq ft
Listing provided by Century 21 Blue Chip · MLS #2540889 · Active
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About this property
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.
Property details
- Property type
- Single Family Residence
- Year built
- 1930
- Lot size
- 44,431 sq ft
- Association dues
- $0 · frequency not provided
- Annual property tax
- $1,036 (2026)
- Parking spaces
- 2
- School district
- North Thurston
Listings courtesy of Northwest MLS as distributed by MLS GRID.
Based on information submitted to the MLS GRID as of 10/6/2026, 11:04:01 PM Pacific. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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