213 4th Avenue East

Olympia, WA 98501

$1,150,000
Price
7
Beds
9
Baths
5,964 Sq. Ft.
$193 / Sq. Ft.
5,964
Sq. Ft.
$193
per Sq. Ft.
Listing provided courtesy of Greene Commercial, Olympic Sotheby's Int'l Realty

Description

First time on the market in nearly half a century! This Downtown Olympia mixed use building features a fully equipped 3,000+/- sq ft restaurant space with a bar on the lower level, and a separate entrance to the 7 studio apartments upstairs. The kitchen is stocked with fryers, stoves, spacious walk-in refrigerator, a type-1 hood, and more! Apartments are easily leased and below market, with coin operated washer and dryer. 9 separate meters on the premises and a newly installed heat pump for the bottom...First time on the market in nearly half a century! This Downtown Olympia mixed use building features a fully equipped 3,000+/- sq ft restaurant space with a bar on the lower level, and a separate entrance to the 7 studio apartments upstairs. The kitchen is stocked with fryers, stoves, spacious walk-in refrigerator, a type-1 hood, and more! Apartments are easily leased and below market, with coin operated washer and dryer. 9 separate meters on the premises and a newly installed heat pump for the bottom floor. Don’t miss your opportunity to own this gem on 4th!
  1. Listed by Maxwell Stottlemyre • Greene Commercial
  2. Listed by Tim Lynch • Olympic Sotheby's Int'l Realty

Property Details for 213 4th Avenue East

Community Name
Olympia
School District
Olympia
Number of Assigned Spaces
0
Total Covered Parking
0
Entry Date
12-12-2024
Energy Source
Electric,Natural Gas
Sewer
Sewer Connected
LISTING UPDATED: 12/13/2024 05:13 PM

Property Details for 213 4th Avenue East

StatusActive
MLS #2316708
Days on Market5
Cumulative Days on Market5
Taxes$8,328 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1908
Lot Size0.08 AC / 3,600 SF
CountyThurston County

Building Information for 213 4th Avenue East

Stories2Residences8Year Built1908Building Size-Lot Size0.08 AC / 3,600 SF

Property Information for 213 4th Avenue East

Summary
Location and General Information
  • Style: 55 - 5-9 Units
  • Site Features: Gas Available, High Speed Internet
  • Area: 447 - Olympia North
  • Directions: From State Ave. take a left on Franklin st, then a right on 4th ave. Property is on the corner of Franklin and 4th.
  • Leased Items: None
  • Property Sub Type: MULT
  • View: No
  • Waterfront: No
Taxes and HOA Information
  • Tax Year: 2024
Parking
  • Number of Carport Spaces: 0.0
  • Carport: No
  • Open Parking Spaces: 0.0
  • Open Parking: No
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: Vinyl, Carpet
  • Features: Wall to Wall Carpet
  • Amenities: Fire Sprinklers
  • Cooling: Yes
  • Cooling: Heat Pump
  • Fireplace: No
  • Heating: Yes
  • Heating: Heat Pump
  • FIRPTA: No
Exterior Features
  • Exterior: Cement/Concrete
  • Roof: Torch Down
Property
Utilities
  • Water Source: Public
  • Water/Sewer/Garbage: 1200
  • Power Company: `PSE
  • Sewer Company: City of Olympia
  • Water Company: City of Olympia
  • Power Production Type: Electric, Natural Gas
Property and Assessments
  • New Construction YN: No
  • Zoning Jurisdiction: City
  • Foundation: Poured Concrete, Slab
  • Zoning Class: Commercial,Multi-Family
  • First Right Of Refusal: false
  • Possible Use: Commercial, Multi-Family
  • Letter On File: Duplicate Prop Type
  • MLS Square Footage Source: Realist
  • Preliminary Title Ordered: Yes
  • Senior Community: No
  • Special Listing Conditions: None
  • Photos Count: 29
Lot Information
  • Lot Size Source: Realist
  • Parcel Number Free Text: 78502400301
  • Calculated Square Footage: 5964
  • Structure Type: Multi Family
  • Square Footage Finished: 0
  • Square Footage Unfinished: 0
  • Building Area Total: 5964.0
  • Building Area Units: Square Feet
  • Property Type: Residential Income
  • Elevation Units: Feet
  • Irrigation Water Rights: No
Multi Family
Building Details
  • Number of Uncovered Spaces: 0
  • Number of Stories in Building: 2
  • Vacancy Rate: 3
  • Number Of Units Total: 8
  • Units Below Grade: false
Financing / Income and Expenses
  • Electric Expense: $0
  • Total Expenses: 23528
  • Gross Adjusted Income: 126876
  • Gross Rent Multiplier: 8.79
  • Gross Scheduled Income: $130,800
  • Insurance Expense: $4,000
  • Net Operating Income: $107,272
  • Other Expenses: $10,000
  • Total Monthly Income: 10900
  • Fuel Expense: $0
Unit 1
  • Name Unit 1: Restaurant
  • Range/Oven Unit 1: true
  • Square Feet Unit 1: 3000
  • Rent Unit 1: $5,000.00
  • Bedrooms Unit 1: 0
  • Fireplaces Unit 1: 0
  • Tenant Description Unit 1: Restaurant
  • Bathrooms Unit 1: 2
  • Lease Expiration Unit 1: 2024-12-31
Unit 2
  • Name Unit 2: Apt 1
  • Range/Oven Unit 2: true
  • Square Feet Unit 2: 423
  • Rent Unit 2: $800.00
  • Bedrooms Unit 2: 1
  • Tenant Description Unit 2: Apt 1
  • Bathrooms Unit 2: 1
Unit 3
  • Name Unit 3: Apt 2
  • Range/Oven Unit 3: true
  • Square Feet Unit 3: 423
  • Rent Unit 3: $850.00
  • Bedrooms Unit 3: 1
  • Tenant Description Unit 3: Apt 2
  • Bathrooms Unit 3: 1
Unit 4
  • Name Unit 4: Apt 3
  • Range/Oven Unit 4: true
  • Refrigerator Unit 4: true
  • Square Feet Unit 4: 423
  • Rent Unit 4: $850.00
  • Bedrooms Unit 4: 1
  • Tenant Description Unit 4: Apt 3
  • Bathrooms Unit 4: 1
Unit 5
  • Name Unit 5: Apt 4
  • Range/Oven Unit 5: true
  • Refrigerator Unit 5: true
  • Square Feet Unit 5: 423
  • Rent Unit 5: $850.00
  • Bedrooms Unit 5: 1
  • Tenant Description Unit 5: Apt 4
  • Bathrooms Unit 5: 1
Unit 6
  • Name Unit 6: Apt 5
  • Range/Oven Unit 6: true
  • Refrigerator Unit 6: true
  • Square Feet Unit 6: 423
  • Rent Unit 6: $850.00
  • Bedrooms Unit 6: 1
  • Tenant Description Unit 6: Apt 5
  • Bathrooms Unit 6: 1
Unit 7
  • Name Unit 7: Apt 6
  • Range/Oven Unit 7: true
  • Square Feet Unit 7: 423
  • Rent Unit 7: $850.00
  • Bedrooms Unit 7: 1
  • Tenant Description Unit 7: Apt 6
  • Bathrooms Unit 7: 1
Unit 8
  • Name Unit 8: Apt 7
  • Range/Oven Unit 8: true
  • Refrigerator Unit 8: true
  • Square Feet Unit 8: 423
  • Rent Unit 8: $850.00
  • Bedrooms Unit 8: 1
  • Tenant Description Unit 8: Apt 7
  • Bathrooms Unit 8: 1
Rental
Rent Information
  • Occupant Type: Tenant
  • Leasable Area: 5964.0
  • Leasable Area Units: Square Feet

Property History for 213 4th Avenue East

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 213 4th Avenue East

Taxable ValueLand$128,200Additions$749,400Total$877,600
Tax Record2023$8,748 ($729 / month)
Home Facts
Total Finished SqFt5,964 SqFtAbove Ground SqFt5,964 SqFtStories2Lot Size3,485 SqFtStyleStoresYear Built1908Year Renovated1975CountyTHURSTONAPN7850-24-00301

Schools near 213 4th Avenue East

This home is within Olympia School District.
Rating
School
Type
Grades
Distance
Lincoln Elementary School
Public - K to 5
Washington Middle School
Public - 6 to 8
Olympia High School
Public - 9 to 12
Avanti High School
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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More information about 213 4th Avenue East, Olympia, WA 98501

213 4th Avenue East is a multi-family home for sale in Olympia, WA 98501. This property was listed for sale on December 12, 2024 by Greene Commercial, it's currently listed at $1,150,000. This listing's school district is Olympia School District. Nearby schools include Lincoln Elementary School, Washington Middle School and Olympia High School. 213 4th Avenue East is a 7-bed, 9-bath, 5,964 sqft multi-family home built in 1908.

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 Greene Commercial; Olympic Sotheby's Int'l Realty

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.