Pending · Residential

1604 Fones Road SE, Olympia, WA 98501

Olympia, WA 98501

$325,000

2 bedrooms · 1 bathrooms · 1,056 sq ft

Loading property photos…

Listing provided by eXp Realty · MLS #2553249 · Pending

More properties in Olympia · Explore local city guides

About this property

DEVELOPMENT & INVESTMENT OPPORTUNITY! Unlock the potential of this strategically positioned property in a rapidly evolving corridor with strong future multifamily development potential. Situated on a valuable parcel, the property offers investors the opportunity to acquire and hold today while creating additional value through future redevelopment. The existing 2-bedroom, 1-bath home provides flexibility for interim rental income or personal use while exploring development plans, entitlements, or redevelopment opportunities. This unique combination of current income potential and long-term land value makes the property an attractive option for investors seeking multiple exit strategies. Ideal for investors, builders, and developers looking to capitalize on an area experiencing ongoing infrastructure improvements and growth. Generate potential income today, hold for appreciation, and position yourself for future multifamily development. A compelling opportunity to invest in the property’s current value while planning for its greater future potential.

Property details

Property type: Single Family Residence
Year built: 1940
Lot size: 21,454 sq ft
Association dues: $0 · frequency not provided
Annual property tax: $2,686 (2026)
Parking spaces: 0
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, 9:48:39 AM 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.

IDX information is provided exclusively for consumers’ personal, noncommercial use to identify prospective properties they may be interested in purchasing. Data is deemed reliable but is not guaranteed by MLS GRID. Some IDX listings have been excluded from this website: search includes current Active, Active Under Contract, Pending and Coming Soon listings.