1438 SE Fones Rd Unit #A&B, Olympia, WA 98501
- $675,000
- 2,383
- SqFt
Listing courtesy of Kelly Right RE of Seattle LLC.
- List Price
- $675,000
- Status
- ACTIVE
- MLS#
- 2548425
- Days on Market
- 80
- Style
- 52 - Duplex
- Finished SqFt
- 2,383
- Lot Size (sq ft)
- 15,268
Property Description
PRICE IMPROVEMENT!! Excellent Location & Strong Investment Opportunity! Well-maintained units in great condition, featuring thoughtful interior updates completed over the past few years. The property benefits from ongoing city road improvements along Fones Road, enhancing accessibility and long-term value. Ideally situated in a close-in location and very close to a freeway exit, this property offers easy commuting and excellent convenience. Enjoy stable and reliable rental income in a highly accessible area. Located within an Opportunity Zone, providing potential tax advantages and appealing estate planning considerations. Owner-occupancy may be possible in Unit A—adding flexibility for investors or owner-users alike. Recent upgrades include: New roof (2025) New water heater Updated flooring Upgraded electrical panel Don’t miss this unique investment opportunity!
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Additional Information
- List Date
- 2026-05-07 20:43:16
- Community
- Olympia
- Potential Terms
- Cash, Conventional, FHA, VA Loan
- Year Built
- 1955
- Roof
- Composition
- School District
- North Thurston
- Elementary School
- Buyer To Verify
- Middle School
- Buyer To Verify
- High School
- Buyer To Verify
- Total Monthly Income
- $4,120
- Gross Scheduled Income
- $50,600
- Vacancy Rate
- 5
- Gross Adjusted Income
- $51,100
- Tax Year
- 2025
- Insurance Expense
- $1,200
- W/S/G Expenses
- $2,800
- Total Expenses
- $11,746
- Net Operating Income
- $38,853
- Gross Rent Multiplier
- 13
- Cap Rate
- 5.5
Mortgage Calculator
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.