1512 Fones Road Southeast

Olympia, WA 98501

$2,750,000
Price
18
Beds
9.5
Baths
8,169 Sq. Ft.
$337 / Sq. Ft.
8,169
Sq. Ft.
$337
per Sq. Ft.
Listing provided courtesy of Better Properties N. Proctor

Description

Great investment property! Own a whole neighborhood. On a private cul-de-sac with 3 duplexes and 3 homes each on individual parcels. 9 total units on 6 parcels. Each property is connected to sewer and public utilities. Just add individual water meters to each and you can sell them separate. Units are in great shape. Multiple new kitchens and interior updates over the past few years. The city is bringing road enhancements along Fones road now. Close in location, easy freeway access, excellent stable...Great investment property! Own a whole neighborhood. On a private cul-de-sac with 3 duplexes and 3 homes each on individual parcels. 9 total units on 6 parcels. Each property is connected to sewer and public utilities. Just add individual water meters to each and you can sell them separate. Units are in great shape. Multiple new kitchens and interior updates over the past few years. The city is bringing road enhancements along Fones road now. Close in location, easy freeway access, excellent stable rental income. Many possibilities with property; hold and cash flow or sell each off individually. Property is located in "opportunity zone" with tax benefits, might be an estate planning stategy. Take advantage of this unique opportunity.
  1. Listed by Josh J. Carlson • Better Properties N. Proctor

Property Details for 1512 Fones Road Southeast

Community Name
Olympia
School District
North Thurston
Number of Assigned Spaces
20
Total Covered Parking
2
Entry Date
12-04-2024
Energy Source
Electric
Sewer
Sewer Connected
LISTING UPDATED: 12/13/2024 02:52 PM

Property Details for 1512 Fones Road Southeast

StatusActive
MLS #2314484
Days on Market14
Cumulative Days on Market14
Taxes$19,644 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1963
Lot Size1.34 AC / 58,455 SF
CountyThurston County

Building Information for 1512 Fones Road Southeast

Stories1Residences9Year Built1963Building Size-Lot Size1.34 AC / 58,455 SF

Property Information for 1512 Fones Road Southeast

Summary
Location and General Information
  • Style: 55 - 5-9 Units
  • Site Features: Fenced-Partially, Outbuildings, Patio
  • Area: 448 - Olympia South
  • Effective Year Built Source: Public Records
  • Directions: Pacific Ave head (North) to Fones Road head (East) on the left side of Fones Rd.
  • Leased Items: None
  • Property Sub Type: MULT
  • View: No
  • Waterfront: No
Taxes and HOA Information
  • Tax Year: 2024
Parking
  • Number of Carport Spaces: 9.0
  • Carport: No
  • Open Parking Spaces: 9.0
  • 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: Ceramic Tile, Laminate, Vinyl, Carpet
  • Features: Ceramic Tile, Laminate Hardwood, Wall to Wall Carpet
  • Amenities: Storage,Thermal Windows
  • Cooling: No
  • Cooling: None
  • Fireplace: No
  • Heating: Yes
  • Heating: Baseboard, Forced Air
Exterior Features
  • Exterior: Brick, Wood, Wood Products
  • Roof: Composition, Torch Down
  • Security Features: FullyFenced
Property
Utilities
  • Water Source: Public
  • Water/Sewer/Garbage: 13605
  • Power Company: PSE
  • Sewer Company: City of Olympia
  • Water Company: City of Olympia
  • Power Production Type: Electric
Property and Assessments
  • New Construction YN: No
  • Foundation: Block, Poured Concrete
  • Zoning Class: Multi-Family,Residential
  • Construction Methods: Standard Frame
  • First Right Of Refusal: false
  • Possible Use: Multi-Family, Residential
  • MLS Square Footage Source: County
  • Preliminary Title Ordered: Yes
  • Senior Community: No
  • Special Listing Conditions: None
  • Year Built Effective: 1989
  • Photos Count: 33
Lot Information
  • Lot Details: Dead End Street, Paved
  • Lot Size Source: County
  • Parcel Number Free Text: 11819140305
  • Building Condition: Good
  • Calculated Square Footage: 8169
  • Structure Type: Multi Family
  • Square Footage Finished: 0
  • Square Footage Unfinished: 0
  • Building Area Total: 8169.0
  • Building Area Units: Square Feet
  • Property Type: Residential Income
  • Elevation Units: Feet
  • Irrigation Water Rights: No
  • Green Energy Efficient: Thermal Windows
Multi Family
Building Details
  • Number of Uncovered Spaces: 9
  • Number of Stories in Building: 1
  • Vacancy Rate: 0
  • Number Of Units Total: 9
  • Units Below Grade: false
  • Units In Building Total: 9
Financing / Income and Expenses
  • Electric Expense: $0
  • Total Expenses: 38937
  • Gross Adjusted Income: 205570
  • Gross Rent Multiplier: 13
  • Gross Scheduled Income: $205,570
  • Insurance Expense: $4,500
  • Net Operating Income: $166,633
  • Other Expenses: $1,188
  • Total Monthly Income: 17131
  • Fuel Expense: $0
Unit 1
  • Name Unit 1: 1438A
  • Washer/Dryer Unit 1: true
  • Range/Oven Unit 1: true
  • Refrigerator Unit 1: true
  • Dishwasher Unit 1: false
  • Square Feet Unit 1: 780
  • Rent Unit 1: $2,000.00
  • Bedrooms Unit 1: 2
  • Fireplaces Unit 1: 0
  • Bathrooms Unit 1: 1
Unit 2
  • Name Unit 2: 1438B
  • Washer/Dryer Unit 2: true
  • Range/Oven Unit 2: true
  • Refrigerator Unit 2: true
  • Dishwasher Unit 2: false
  • Square Feet Unit 2: 1603
  • Rent Unit 2: $2,270.00
  • Bedrooms Unit 2: 3
  • Fireplaces Unit 2: 1
  • Bathrooms Unit 2: 2
Unit 3
  • Name Unit 3: 1440
  • Washer/Dryer Unit 3: true
  • Range/Oven Unit 3: true
  • Refrigerator Unit 3: true
  • Dishwasher Unit 3: false
  • Square Feet Unit 3: 992
  • Rent Unit 3: $2,000.00
  • Bedrooms Unit 3: 3
  • Fireplaces Unit 3: 0
  • Bathrooms Unit 3: 1
Unit 4
  • Name Unit 4: 1516
  • Washer/Dryer Unit 4: true
  • Range/Oven Unit 4: true
  • Refrigerator Unit 4: true
  • Dishwasher Unit 4: false
  • Square Feet Unit 4: 1260
  • Rent Unit 4: $1,875.00
  • Bedrooms Unit 4: 2
  • Fireplaces Unit 4: 0
  • Bathrooms Unit 4: 1
Unit 5
  • Name Unit 5: 1518
  • Washer/Dryer Unit 5: true
  • Range/Oven Unit 5: true
  • Refrigerator Unit 5: true
  • Dishwasher Unit 5: false
  • Square Feet Unit 5: 984
  • Rent Unit 5: $2,385.00
  • Bedrooms Unit 5: 2
  • Fireplaces Unit 5: 0
  • Bathrooms Unit 5: 1
Unit 6
  • Name Unit 6: 1508
  • Washer/Dryer Unit 6: true
  • Range/Oven Unit 6: true
  • Refrigerator Unit 6: true
  • Dishwasher Unit 6: false
  • Square Feet Unit 6: 575
  • Rent Unit 6: $1,600.00
  • Bedrooms Unit 6: 1
  • Fireplaces Unit 6: 0
  • Bathrooms Unit 6: 1
Unit 7
  • Name Unit 7: 1510
  • Washer/Dryer Unit 7: true
  • Range/Oven Unit 7: true
  • Refrigerator Unit 7: true
  • Dishwasher Unit 7: false
  • Square Feet Unit 7: 575
  • Rent Unit 7: $1,600.00
  • Bedrooms Unit 7: 1
  • Fireplaces Unit 7: 0
  • Bathrooms Unit 7: 1
Unit 8
  • Name Unit 8: 1512
  • Washer/Dryer Unit 8: true
  • Range/Oven Unit 8: true
  • Refrigerator Unit 8: true
  • Dishwasher Unit 8: false
  • Square Feet Unit 8: 700
  • Rent Unit 8: $1,450.00
  • Bedrooms Unit 8: 2
  • Fireplaces Unit 8: 0
  • Bathrooms Unit 8: 1
Unit 9
  • Name Unit 9: 1514
  • Washer/Dryer Unit 9: true
  • Range/Oven Unit 9: true
  • Refrigerator Unit 9: true
  • Dishwasher Unit 9: false
  • Square Feet Unit 9: 700
  • Rent Unit 9: $1,600.00
  • Bedrooms Unit 9: 2
  • Fireplaces Unit 9: 0
  • Bathrooms Unit 9: 1
Rental
Rent Information
  • Occupant Type: Tenant
  • Leasable Area: 8169.0
  • Leasable Area Units: Square Feet

Property History for 1512 Fones Road 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 1512 Fones Road Southeast

Taxable ValueLand$211,100Additions$177,500Total$388,600
Tax Record2024$3,791 ($316 / month)
Home Facts
Baths2Total Finished SqFt1,400 SqFtAbove Ground SqFt1,400 SqFtStories1Lot Size8,712 SqFtStyleMulti-Family Dwelling (2-4)Year Built1963Year Renovated1989CountyTHURSTONAPN1181-91-40305Fireplace TypeHas Fireplace

Schools near 1512 Fones Road Southeast

This home is within North Thurston Public Schools.
Rating
School
Type
Grades
Distance
Pleasant Glade Elementary School
Public - PK to 5
Chinook Middle School
Public - 6 to 8
North Thurston High School
Public - 9 to 12
Ignite Family Academy
Public - K to 8
Rating
School
Distance
Pleasant Glade Elementary School
PublicPK to 5

Chinook Middle School
Public6 to 8

North Thurston High School
Public9 to 12

Ignite Family Academy
PublicK to 8

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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More information about 1512 Fones Road Southeast, Olympia, WA 98501

1512 Fones Road Southeast is a multi-family home for sale in Olympia, WA 98501. This property was listed for sale on December 4, 2024 by Better Properties N. Proctor, it's currently listed at $2,750,000. This listing's school district is North Thurston Public Schools. Nearby schools include Pleasant Glade Elementary School, Chinook Middle School and North Thurston High School. 1512 Fones Road Southeast is a 18-bed, 9.5-bath, 8,169 sqft multi-family home built in 1963.

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 Better Properties N. Proctor

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.