$499,950
Est. $2,584/mo4 bd•2 ba•1,588 sq ft
521 & 523 Boulevard Road Se, Olympia, WA 98501
• Listed 2026-05-01•4 days on market
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RARE OLYMPIA INVESTMENT + DEVELOPMENT OPPORTUNITY! Two 2-bedroom, 1-bath rental homes PLUS a separate adjacent 5,779 sq. ft. building lot—all offered together at $499,950. Live in one, rent both, or explore future development possibilities while maintaining existing rental income. 523 Boulevard Rd SE is 769 sq. ft., built in 1962, and features a newer roof, siding and flooring. It was rented for $1,670/month. 521 is 839 sq. ft., built in 1965, and offers additional upside with some TLC; current rent is well below market at $787.50/month on a month-to-month basis. Each home includes a carport. The adjacent lot offers exciting potential for investors and developers. Explore building while retaining rental income, or investigate condominiumization or short-plat possibilities for individual resale. Alley access may provide additional flexibility (buyer to verify). Each lot is approximately 5,779 sq. ft. and zoning allows 4–8 units per acre. Commercial zoning is nearby on the other side of the street. Recent property-management inspections are available upon request. Combined square footage of both residences is reflected in the listing. Taxes: $4,658.11 for 521/523 and $1,824.27 for the additional lot. Please do not disturb tenants. Interior viewing of 521 upon mutual acceptance. Two homes. Two lots. Existing income. Future potential—all for $499,950!
Listed by Julia Galleher • Keller Williams Realty PS
Listing updated: September 3, 2026 at 07:13am
RexMont checked: moments ago
Source: NWMLS as Distributed by MLS Grid #2516854
521 & 523 Boulevard Road Se, Olympia, WA 98501
Estimates only and not guaranteed. Consult a RexMont agent for accurate, personalized guidance before making an offer. RexMont OfferEdge™ · © 2026 RexMont Real Estate. Proprietary tool.
Neighborhood mobility
Olympia School District
Assigned schools for this property per the listing's MLS data. School district boundaries change — verify the exact assigned schools with the district before purchasing.
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Olympia is a seller's market.
Inventory is low and competition is high. Sellers have more negotiating power.
Offer insight: Many homes get multiple offers, some with waived contingencies.
List to sale price: The average home sells very close to list price.
Time on market: The average home goes pending in around 11 days.
$750,000 Sold
3 months ago
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1103 Creekwood Court Se, Olympia, WA 98501
12%
Under list
—
Days on market
0.4 mi
Distance
$650,000 Sold
3 months ago
•Single Family
1100 Eastside Street Se #7, Olympia, WA 98501
7%
Under list
—
Days on market
0.9 mi
Distance
$565,000 Sold
5 months ago
3 bd•2.5 ba•~1,991 sq ft•Single Family
1428 Frederick Street Se, Olympia, WA 98501
2%
Under list
—
Days on market
0.7 mi
Distance
$423,670 Sold
5 months ago
•Single Family
1821 4th Avenue E, Olympia, WA 98501
8%
Under list
—
Days on market
0.4 mi
Distance
$399,900 Sold
6 months ago
2 bd•1 ba•~1,360 sq ft•Single Family
1717 14th Avenue Se, Olympia, WA 98501
0%
Over list
—
Days on market
0.7 mi
Distance
Closed sales from MLS GRID / NWMLS within the past 6 months, matched on property type and within 1 mile. Comps approximate.
Want a deeper read on this market?
Ask a RexMont agentMarket data from MLS GRID / NWMLS · Updated Sep 2026
MLS GRID Disclaimer
Based on information submitted to the MLS GRID as of September 3, 2026 at 07:13am (date and time MLS GRID Data was obtained). 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.
Listing information courtesy of Northwest Multiple Listing Service (NWMLS). The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than RexMont Real Estate are marked with the “Listing courtesy of NWMLS” designation. Information provided is for the consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
© 2026 Northwest Multiple Listing Service. All rights reserved.
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Open houses
No upcoming open houses scheduled for this property.
Nearby open houses (2)
See more →
Open Tue, Sep 8$543,000
+$43,050 over list price
Nearby comparable homes
RexMont uses 5 strongest recent nearby sales, priced between $441K and $849K.
Rental earnings
$1,625/mo
Screening estimate from the comp-supported value. Verify with rent comps before underwriting.
$475,000Last sold price
2807 Kirkaldy Court Se, Olympia, WA 98501
$849,000Last sold price
2148 Edgewood Circle Se, Olympia, WA 98501
Estimate is a comp-supported screen, not an appraisal or broker price opinion. Ask RexMont for a property-specific pricing review before writing or accepting an offer.
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