503 Devoe Street NE, Olympia, WA 98506
- $659,000
Listing courtesy of Capitol Real Estate LLC.
- List Price
- $659,000
- Status
- ACTIVE
- MLS#
- 2567540
- Days on Market
- 0
- Style
- 52 - Duplex
- Annual Tax Ammount
- 6873
- Internet Provider
- Xfinity
- Lot Size (sq ft)
- 19,243
- Sewer
- Septic Tank
Property Description
Great opportunity to acquire a freshly remodeled duplex in excellent condition with tremendous income producing potential. 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 smaller 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 for 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, but has a rural feel of living in the country!
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Additional Information
- List Date
- 2026-08-11 21:58:14
- Community
- Eastside Olympia
- Net Operating Income
- $45,327
- Gross Adjusted Income
- $53,400
- Gross Scheduled Income
- $53,400
- Total Monthly Income
- $4,450
- Insurance Expenses
- $1,200
- Gross Rent Multiplier
- 13.39
- Total Expenses
- $8,073
- Cap Rate
- 6.34
- Vacancy Rate
- 50
- Total Number of Units
- 2
- Unit Name
- 503
- Potential Terms
- Cash, Conventional
- Year Built
- 2011
- Roof
- Composition
- Site Features
- Cable TV, Deck, High Speed Internet, Patio
- Energy Source
- Electric
- School District
- Olympia
- Elementary School
- Roosevelt Elementary
- Middle School
- Reeves Mid
- High School
- Olympia High
- Total Monthly Income
- $4,450
- Gross Scheduled Income
- $53,400
- Vacancy Rate
- 50
- Gross Adjusted Income
- $53,400
- Tax Year
- 2025
- Insurance Expense
- $1,200
- Total Expenses
- $8,073
- Net Operating Income
- $45,327
- Gross Rent Multiplier
- 13.39
- Cap Rate
- 6.34
Based on information submitted to the MLS GRID as of . 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, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.