$995,000
Est. $5,468/mo2 bd•1.75 ba•1,848 sq ft
423 Franz Anderson Road SE, Olympia, WA 98501
• Listed Jun 17, 2026•37 days active · 37 cumulative
Listing Broker: Century 21 Blue Chip; Greg Pubols; 253-227-1100; greg@bluechiprealtyup.com
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Listing Broker: Century 21 Blue Chip; Greg Pubols; 253-227-1100; greg@bluechiprealtyup.com
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.
Listed by Greg Pubols • Century 21 Blue Chip
Listing updated: September 21, 2026 at 11:33pm
RexMont checked: moments ago
Source: NWMLS as Distributed by MLS Grid #2540889
Around this home
How much should you offer?
423 Franz Anderson Road SE, Olympia, WA 98501
Source:RexMont analysis of Northwest MLS sales data for this ZIP code plus third-party market data (RentCast). The estimates are RexMont's, not Northwest MLS listing data.
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.
Property details
Bedrooms
- 2 bedrooms total
- 2 on the main level
Bathrooms
- 1 full bathroom
- 1 three-quarter bathroom (shower, no tub)
- 1.75 bathrooms total (NWMLS count)
- 2 on the main level
Layout
- 1 Story
- 1,848 sq ft finished, 1,035 sq ft unfinished
- 360 sq ft garage
Flooring
- Hardwood
Heating & cooling
- Forced Air heating
- None cooling
Schools
Ratings via SchoolDigger- Ignite Family AcademyPublic · Grades K-8 · 0.9 mi—
- Chinook Middle SchoolPublic · Grades 6-8 · 1.1 mi · State rank 243 of 5146/10
- North Thurston High SchoolPublic · Grades 9-12 · 0.9 mi · State rank 129 of 3966/10
Schools shown are the nearest public Elementary, Middle, and High school for this property and may not be the assigned schools. Verify attendance boundaries with the district before purchasing.
Single-family home facts
As entered by the listing broker on Northwest MLS
Lot & site
- Lot dimensions
- 202'x207'x201'x210'
- Topography
- Level
- Zoning code
- HDC-4
- Faces
- East
Systems
- Energy source
- Electric,Natural Gas
- Power production
- Electric, Natural Gas
- Power company
- PSE
- Water company
- City of Olympia
- Sewer company
- City of Olympia
- Irrigation water rights
- No
Rooms & extras
- Bathtubs
- 1
- Showers
- 2
New construction
- Square footage source
- Public Records
- Lot size source
- Public Records
- Effective year built source
- Public Records
Manufactured home
- Land lease
- No
Neighborhood mobility
Doorstep, Pedal & Station Scores
Three RexMont scores for this exact address: what is on foot, what is by bike, and what rides past the door.
Ground Truth™
The ground, the slope, the flood zone and the noise at this address
Read from public hazard, flood, terrain and noise maps for this exact home.
Address Insider™
The members' report
Commute, transit, zoning and ADU potential, internet providers and the lifestyle around the home: the nearest grocery, coffee, park, services and transit stop. One free registration opens every home on rexmont.com.
Opens with the report above.
Sales & Tax Records for 423 Franz Anderson Road SE
NWMLS via MLS Grid · Thurston County AssessorEvery listing, pending, price change and closing filed on this home with the NWMLS, the county’s recorded sales, and its assessed values by tax year.
- Jun 17, 2026ListedNWMLS via MLS Grid · #2540889$995,000$538/sq ft
- Aug 12, 2016SoldNWMLS via MLS Grid · #938025$250,000$135/sq ft
- May 18, 2016PendingNWMLS via MLS Grid · #938025$249,950$135/sq ft
- May 13, 2016ListedNWMLS via MLS Grid · #938025$249,950$135/sq ft
Down payment assistance
6 programs may be available to provide you with up to $49,750 in down payment assistance, depending on your specific information.
Source: program list compiled by RexMont from ARCH (A Regional Coalition for Housing) member-jurisdiction information. This is not Northwest MLS listing data.
Mortgage payment forecast
$5,803 per month
Great rateTakes about 5 minutes & won't affect your credit
Get pre-approvedSource: RexMont estimate, not Northwest MLS listing data. Interest rates from Freddie Mac's Primary Mortgage Market Survey via FRED (Federal Reserve Bank of St. Louis). Property tax and HOA dues from the NWMLS listing where provided, otherwise estimated; insurance estimated at 0.3% of price per year.
Estimate only. Actual payment depends on credit, lender, and program. PMI not included for down payments below 20%.
Ask about this home
A licensed RexMont broker will get back to you, usually in under 5 minutes during business hours.
Listing Broker: Century 21 Blue Chip; Greg Pubols; 253-227-1100; greg@bluechiprealtyup.com
Market pulse
Olympia is a balanced market.
Supply and demand are roughly in balance. Neither side has a clear edge.
Offer insight: Homes typically sell with one offer near asking price.
List to sale price: The average home sells very close to list price.
Time on market: The average home goes pending in around 73 days.
Recent sales nearby
Within 1 mile · last 6 months$350,000 Sold
2 days ago
1 bd•1 ba•~1,176 sq ft•Single Family
704 Weir Street SE, Olympia, WA 98501
1%
Under list
70
Days on market
0.4 mi
Distance
$463,000 Sold
6 days ago
3 bd•2.5 ba•~1,906 sq ft•Single Family
3218 15th Way SE, Olympia, WA 98501
5%
Under list
51
Days on market
0.8 mi
Distance
$590,000 Sold
2 weeks ago
4 bd•2.5 ba•~2,916 sq ft•Single Family
1225 Kiely Drive SE, Olympia, WA 98501
2%
Under list
112
Days on market
0.9 mi
Distance
$140,000 Sold
3 weeks ago
2 bd•2 ba•Single Family
3700 14th Avenue SE #119, Olympia, WA 98501
9%
Over list
95
Days on market
0.7 mi
Distance
$349,950 Sold
3 weeks ago
2 bd•1 ba•~1,260 sq ft•Single Family
1516 Fones Road SE, Olympia, WA 98501
0%
Over list
196
Days on market
0.8 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 Oct 2026
Information and statistics derived from Northwest Multiple Listing Service. Source: Northwest Multiple Listing Service, as distributed by MLS GRID.
MLS GRID Disclaimer
Based on information submitted to the MLS GRID as of October 25, 2026 at 11:46 PM PT (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.
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© 2026 Northwest Multiple Listing Service. All rights reserved.
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