$450,950
Est. $2,330/mo4 bd•2 ba•1,588 sq ft
521 & 523 Boulevard Road Se, Olympia, WA 98501
• Listed 2026-07-31•4 days on market
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Outstanding opportunity in a highly desirable Olympia location! Featuring two income-producing 2-bedroom, 1-bath homes on one lot. The neighboring building lot, also zoned for 4–8 units per acre, is for sale separately. 523 is 769 sq. ft., built in 1962, and has been updated with a newer roof, flooring, and siding, and was rented for $1,670.00 a month. The front home, 521, is 839 sq. ft., built in 1965, and presents an opportunity for improvement with some TLC (currently rented on a month-to-month basis for a VERY low rent of $787.50). Each residence includes an adjacent carport. Developers and investors will appreciate the flexibility, purchase the adjacent lot and build while maintaining rental income, or explore options to condominiumize or short-plat for individual resale, with alley access available (buyer to verify). A rare combination of location, income, and development potential! Each lot is 5,779 square feet. Recent inspections have been completed and are available upon request. Do not disturb the tenants. Interior viewing of unit 521 will be upon mutual acceptance of the offer. What a great investment! The cap rate, GSI, etc., are based on unit 521 being rented for the same amount as unit 523.
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 #2562735
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.
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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)
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Open Tue, Sep 8$543,000
+$92,050 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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