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$995,000

Active

423 Franz Anderson Road SE, Olympia, WA 98501

2beds
2baths
1,848sq ft
1.02acre lot
1930built
Househome type

Listed Jun 17 · MLS #2540889

REPORTED FEATURES

Why you might love it

TAKE A CLOSER LOOK

Reasons to see it in person

  • Listed Jun 17
  • Feel the single-level layout in person
  • Explore the layout of the 44,431 sq ft lot

YOUR NEXT CHAPTER

Be ready when you find the one

  1. ✓Search
  2. 2Narrow
  3. 3Pre-approval
  4. 4Tour
  5. 5Offer

You’re taking a closer look. A licensed loan officer can help you prepare for the next step.

Talk with Enrique

Mortgage Lending Group · Company NMLS 1157983 · Enrique Pelayo Jr. NMLS 131435

THE FACTS

Home details

Interior

Bedrooms
2
Bathrooms
2
Interior area
1,848 sq ft
Levels
One
Flooring
Hardwood

Exterior & lot

Home type
House
Year built
1930
Lot size
44,431 sq ft
Exterior
Wood, Wood Products
View
Territorial

Parking

Parking spaces
2
Parking features
Attached Carport

Systems

Heating
Forced Air
Cooling
None
Water
Public
Sewer
Available, Septic Tank

Taxes & HOA

Annual property tax
$1,036 (2026)
Monthly HOA
$0

FROM THE LISTING

About this home

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.

MLS SCHOOL INFORMATION

Schools

North Thurston School District

School assignments can change. Confirm with the district before you decide. No ratings or rankings are provided.

A FEW THINGS TO VERIFY

Before you fall too hard

Check internet providers on the FCC map ↗

Enter 423 Franz Anderson Road SE, Olympia, WA 98501 to check reported service.

Built in 1930 · About 96 years old.