$995,000
Est. $5,168/mo2 bd•1.75 ba•1,848 sq ft
423 Franz Anderson Road Se, Olympia, WA 98501
• Listed 2026-06-17•87 days on market
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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: June 20, 2026 at 09:44am
RexMont checked: moments ago
Source: NWMLS as Distributed by MLS Grid #2540889
Open houses
No upcoming open houses scheduled for this property.
423 Franz Anderson 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
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.
6 programs may be available to provide you with up to $55,000 in down payment assistance, depending on your specific information.
$5,503 per month
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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: Days-on-market data not available for this area.
$885,000 Sold
6 months ago
•Single Family
3700 Pacific Avenue Se, Olympia, WA 98501
11%
Under list
—
Days on market
0.5 mi
Distance
$340,000 Sold
6 months ago
3 bd•1.75 ba•~1,232 sq ft•Single Family
3526 17th Way Se, Olympia, WA 98501
1%
Under list
—
Days on market
0.9 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 June 20, 2026 at 09:44am (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.
Equal Housing Opportunity. RexMont Real Estate is pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing because of race, color, religion, sex, handicap, familial status, or national origin.
$976,000
-$19,000 under list price
Nearby comparable homes
RexMont uses 5 strongest recent nearby sales, priced between $505K and $649K.
Rental earnings
$2,925/mo
Screening estimate from the comp-supported value. Verify with rent comps before underwriting.
$520,000Last sold price
1913 Greenfield Street Se, Olympia, WA 98501
$522,450Last sold price
803 Edison Street 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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