906-908 Adams Street Southeast

Olympia, WA 98501

$1,300,000
Price
Beds
4,776 Sq. Ft.
$272 / Sq. Ft.
4,776
Sq. Ft.
$272
per Sq. Ft.

Description

Unique Investor or Developer Opportunity in Downtown Olympia! Don't miss this one! Listing includes a duplex and 7-plex on one parcel and a leased parking lot. Under market rents, all tenants on month to month tenancy. Units offer a mix of studios and one-bedrooms. Parking spots lease for $30/mo with over 20 stalls! Close to downtown, waterfront, and shopping. Zoned UR (Urban Residential), allows for high-rise redevelopment or mixed-use opportunities!Unique Investor or Developer Opportunity in Downtown Olympia! Don't miss this one! Listing includes a duplex and 7-plex on one parcel and a leased parking lot. Under market rents, all tenants on month to month tenancy. Units offer a mix of studios and one-bedrooms. Parking spots lease for $30/mo with over 20 stalls! Close to downtown, waterfront, and shopping. Zoned UR (Urban Residential), allows for high-rise redevelopment or mixed-use opportunities!
  1. Listed by Jeff Weeks • Olympic Sotheby's Int'l Realty
  2. Listed by Quint Newell • Greene Commercial

Property Details for 906-908 Adams Street Southeast

Community Name
Olympia
School District
Olympia
View
Territorial
Number of Assigned Spaces
24
Total Covered Parking
0
Entry Date
08-12-2024
Energy Source
Electric,Natural Gas
Sewer
Sewer Connected
LISTING UPDATED: 11/13/2024 12:24 PM

Property Details for 906-908 Adams Street Southeast

StatusActive
MLS #2276827
Days on Market132
Cumulative Days on Market132
Taxes$11,514 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1901
Lot Size0.33 AC / 14,400 SF
CountyThurston County

Building Information for 906-908 Adams Street Southeast

Stories3Residences1Year Built1901Building Size-Lot Size0.33 AC / 14,400 SF

Property Information for 906-908 Adams Street Southeast

Summary
Location and General Information
  • Style: 55 - 5-9 Units
  • Site Features: Cable TV, Gas Available, High Speed Internet
  • Area: 447 - Olympia North
  • Elementary School: Buyer To Verify
  • Middle Or Junior School: Buyer To Verify
  • High School: Olympia High
  • Effective Year Built Source: Public Records
  • Directions: From Plum head west on Union Ave, right on Adams to property on the right
  • Leased Items: None
  • Property Sub Type: MULT
  • View: Yes
  • Waterfront: No
Taxes and HOA Information
  • Tax Year: 2024
  • Additional Tax Ids: 78504900200
Parking
  • Number of Carport Spaces: 0.0
  • Carport: No
  • Open Parking Spaces: 24.0
  • 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: Hardwood, Vinyl, Carpet
  • Features: Hardwood, Wall to Wall Carpet
  • Amenities: Basement
  • Cooling: No
  • Cooling: None
  • Fireplace: No
  • Heating: Yes
  • Heating: Forced Air
  • FIRPTA: No
Exterior Features
  • Exterior: Wood, Wood Products
  • Roof: Composition
Property
Utilities
  • Water Source: Public
  • Water/Sewer/Garbage: 8435
  • 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: Block, Slab
  • Zoning Class: Multi-Family,Residential
  • First Right Of Refusal: false
  • Possible Use: Multi-Family, Residential
  • MLS Square Footage Source: Public Records
  • Preliminary Title Ordered: Yes
  • Senior Community: No
  • Special Listing Conditions: None
  • Year Built Effective: 1964
  • Photos Count: 20
Lot Information
  • Lot Details: Alley, Curbs, Paved, Sidewalk
  • Lot Size Source: Public Records
  • Parcel Number Free Text: 68700000300
  • Building Condition: Fair
  • Calculated Square Footage: 4776
  • Structure Type: Multi Family
  • Square Footage Finished: 0
  • Square Footage Unfinished: 0
  • Building Area Total: 4776.0
  • Building Area Units: Square Feet
  • Property Type: Residential Income
  • Elevation Units: Feet
  • Irrigation Water Rights: No
Multi Family
Building Details
  • Number of Uncovered Spaces: 24
  • Number of Stories in Building: 3
  • Vacancy Rate: 0
  • Number Of Units Total: 1
  • Units Below Grade: true
  • Units In Building Total: 9
Financing / Income and Expenses
  • Electric Expense: $0
  • Total Expenses: 25724
  • Gross Adjusted Income: 62040
  • Gross Rent Multiplier: 0
  • Gross Scheduled Income: $62,040
  • Insurance Expense: $3,455
  • Net Operating Income: $36,316
  • Other Expenses: $0
  • Total Monthly Income: 5890
  • Fuel Expense: $2,320
Rental
Rent Information
  • Occupant Type: Tenant
  • Leasable Area: 4776.0
  • Leasable Area Units: Square Feet

Property History for 906-908 Adams Street Southeast

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Schools near 906-908 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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906-908 Adams Street Southeast is a multi-family home for sale in Olympia, WA 98501. This property was listed for sale on August 12, 2024 by Olympic Sotheby's Int'l Realty, it's currently listed at $1,300,000. This listing's school district is Olympia School District. Nearby schools include Lincoln Elementary School, Washington Middle School and Olympia High School. 906-908 Adams Street Southeast is a 0-bed, 0-bath, 4,776 sqft multi-family home built in 1901.

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 Olympic Sotheby's Int'l Realty; Greene Commercial

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.