Active · Residential Income

503 Devoe Street NE, Olympia, WA 98506

Olympia, WA 98506

$615,000

— bedrooms · — bathrooms · 0 sq ft

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Listing provided by Capitol Real Estate LLC · MLS #2567540 · Active

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About this property

Great opportunity to acquire a freshly remodeled duplex in excellent condition with tremendous income producing potential with a CAP rate of 7.49%!!!! That is an incredible CAP rate. Or occupy one side and lease out the other to decrease your mortgage payment. Located on Olympia’s Eastside in the UGA, just outside city limits, this 2011-built duplex offers two established rental units plus potential to expand. The property includes a 3-bedroom, 2-bath unit with a 1-car garage and a fully remodeled 2-bedroom, 1-bath unit with a 1-car garage. The 2 bedrm unit has been extensively updated with LVP flooring, quartz countertops, new kitchen cabinets, appliances, doors, millwork, trim, and fresh paint. The nearly half-acre lot provides potential to develop an additional duplex, creating the possibility of four total units and increased income-producing capacity. Strong location, Olympia schools, existing rental income, and future possibilities for development. This is a great location within walking distance to most Eastside Olympia amenities, while keeping that rural feel of living in the country!

Property details

Property type: Multi Family
Year built: 2011
Lot size: 19,243 sq ft
Association dues: $0 · frequency not provided
Annual property tax: $6,873 (2025)
Parking spaces: 11
School district: Olympia

Listings courtesy of Northwest MLS as distributed by MLS GRID.

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