1005 Adams Street Southeast

Olympia, WA 98501

$674,000
Price
Beds
2,632 Sq. Ft.
$256 / Sq. Ft.
2,632
Sq. Ft.
$256
per Sq. Ft.

Description

Excellent redevelopment site in Olympia's downtown Opportunity Zone. Prominently located near the State Capital, this 5,940 SF site is a perfect opportunity for a mixed-use development. This site features territorial views of the Olympic Mountains and Mount Rainier and currently has a Duplex to provide income while going through the design and permitting process. This close proximity to the State Capital combined with the excellent tax advantages of being in an Opportunity Zone makes this an excellent...Excellent redevelopment site in Olympia's downtown Opportunity Zone. Prominently located near the State Capital, this 5,940 SF site is a perfect opportunity for a mixed-use development. This site features territorial views of the Olympic Mountains and Mount Rainier and currently has a Duplex to provide income while going through the design and permitting process. This close proximity to the State Capital combined with the excellent tax advantages of being in an Opportunity Zone makes this an excellent investment choice.
  1. Listed by Charlie Grate • Real Broker LLC
  2. Listed by Alisa Meister • Real Broker LLC

Property Details for 1005 Adams Street Southeast

Community Name
Olympia
School District
Olympia
View
Mountain(s), Sound, Territorial
Number of Assigned Spaces
6
Total Covered Parking
2
Entry Date
08-21-2024
Energy Source
Electric
Sewer
Available
LISTING UPDATED: 11/18/2024 03:24 PM

Property Details for 1005 Adams Street Southeast

StatusActive
MLS #2279429
Days on Market123
Cumulative Days on Market123
Taxes$6,223 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1955
Lot Size0.11 AC / 4,860 SF
CountyThurston County

Building Information for 1005 Adams Street Southeast

Stories2Residences2Year Built1955Building Size-Lot Size0.11 AC / 4,860 SF

Property Information for 1005 Adams Street Southeast

Summary
Location and General Information
  • Style: 52 - Duplex
  • Area: 447 - Olympia North
  • Elementary School: Lincoln Elementary
  • Middle Or Junior School: Wash Mid
  • High School: Olympia High
  • Effective Year Built Source: Public Records
  • Directions: From 6th go South on Adams home is just pass 10th on the right side grey with a covered porch. Sign is down in the yard.
  • Leased Items: None
  • Property Sub Type: MULT
  • View: Yes
  • Waterfront: No
Taxes and HOA Information
  • Tax Year: 2024
Parking
  • Number of Carport Spaces: 0.0
  • Carport: No
  • Open Parking Spaces: 4.0
  • Open Parking: Yes
Interior and Exterior Features
Bathroom Information
  • Full Baths Upper: 0
  • Three Quarter Baths Upper: 0
  • Half Baths Upper: 0
  • Main Level Bathrooms: 0
Bedroom Information
  • Bedrooms Upper: 0
  • Bedrooms Possible: 0
Interior Features
  • Fireplaces Total: 0
  • Floor Covering: Carpet
  • Features: Wall to Wall Carpet
  • Cooling: Yes
  • Cooling: Forced Air
  • Fireplace: No
  • Heating: Yes
  • Heating: Forced Air
  • FIRPTA: No
Exterior Features
  • Exterior: Brick
  • Roof: Composition
Property
Utilities
  • Water Source: Public
  • Water/Sewer/Garbage: 0
  • Power Company: Puget Sound Energy
  • Sewer Company: City of Olympia
  • Water Company: City of Olympia
  • Power Production Type: Electric
Property and Assessments
  • New Construction YN: No
  • Zoning Jurisdiction: City
  • Foundation: Block
  • Zoning Class: Multi-Family
  • First Right Of Refusal: false
  • Possible Use: Multi-Family
  • MLS Square Footage Source: Public Records
  • Preliminary Title Ordered: Yes
  • Senior Community: No
  • Special Listing Conditions: None
  • Year Built Effective: 1987
  • Photos Count: 10
Lot Information
  • Lot Details: Paved
  • Lot Size Source: Public Records
  • Parcel Number Free Text: 78506200300
  • Building Condition: Average
  • Calculated Square Footage: 2632
  • Structure Type: Duplex
  • Square Footage Finished: 0
  • Square Footage Unfinished: 0
  • Building Area Total: 2632.0
  • Building Area Units: Square Feet
  • Property Type: Residential Income
  • Elevation Units: Feet
  • Irrigation Water Rights: No
Multi Family
Building Details
  • Number of Uncovered Spaces: 4
  • Number of Stories in Building: 2
  • Vacancy Rate: 16
  • Number Of Units Total: 2
  • Units Below Grade: false
  • Units In Building Total: 2
Financing / Income and Expenses
  • Electric Expense: $0
  • Total Expenses: 7806
  • Gross Adjusted Income: 32358
  • Gross Rent Multiplier: 17.4
  • Gross Scheduled Income: $40,164
  • Insurance Expense: $0
  • Net Operating Income: $24,552
  • Other Expenses: $1,583
  • Total Monthly Income: 2997
  • Fuel Expense: $0
Unit 1
  • Name Unit 1: 1
  • Rent Unit 1: $1,547.00
Unit 2
  • Name Unit 2: 2
  • Rent Unit 2: $1,450.00
Rental
Rent Information
  • Occupant Type: Vacant
  • Leasable Area: 2632.0
  • Leasable Area Units: Square Feet

Property History for 1005 Adams Street Southeast

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1005 Adams Street Southeast

Taxable ValueLand$187,500Additions$421,500Total$609,000
Tax Record2023$6,074 ($506 / month)
Home Facts
Baths3Total Finished SqFt2,632 SqFtAbove Ground SqFt2,632 SqFtStories2Lot Size4,792 SqFtStyleMulti-Family Dwelling (2-4)Year Built1955Year Renovated1987CountyTHURSTONAPN7850-62-00300Fireplace TypeHas Fireplace

Schools near 1005 Adams Street Southeast

This home is within Olympia School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Lincoln Elementary School
PublicK to 5

Washington Middle School
Public6 to 8

Olympia High School
Public9 to 12

Avanti High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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1005 Adams Street Southeast is a multi-family home for sale in Olympia, WA 98501. This property was listed for sale on August 21, 2024 by Real Broker LLC, it's currently listed at $674,000. This listing's school district is Olympia School District. Nearby schools include Lincoln Elementary School, Washington Middle School and Olympia High School. 1005 Adams Street Southeast is a 0-bed, 0-bath, 2,632 sqft multi-family home built in 1955.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Real Broker LLC

Listing provided courtesy of NWMLS, RMLS or Yakima MLS. The information contained in this listing has not been verified by Compass or the MLS and should be verified by the buyer. The DOM value represents the number of days this listing has been Active on this website.