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1438 Fones Rd SE # A&B Olympia, WA $ 699,001
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1438 Fones Rd SE # A&B
$ 699,001
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1438 Fones Rd SE # A&B

Olympia, WA, 98501
$ 699,001
Baths0.0 Sq 2,383

Monthly Estimate*

$ 4,304

Listed by Kelly Right RE of Seattle LLC
1438 Fones Rd SE # A&B, Olympia, WA 98501 - Image 1
1438 Fones Rd SE # A&B, Olympia, WA 98501 - Image 2
1438 Fones Rd SE # A&B, Olympia, WA 98501 - Image 3
1438 Fones Rd SE # A&B, Olympia, WA 98501 - Image 4
1438 Fones Rd SE # A&B, Olympia, WA 98501 - Image 5
1438 Fones Rd SE # A&B, Olympia, WA 98501 - Image 6
1438 Fones Rd SE # A&B, Olympia, WA 98501 - Image 7
1438 Fones Rd SE # A&B, Olympia, WA 98501 - Image 8
1438 Fones Rd SE # A&B, Olympia, WA 98501 - Image 9
1438 Fones Rd SE # A&B, Olympia, WA 98501 - Image 10
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1438 Fones Rd SE # A&B, Olympia, WA 98501 - Image 14
1438 Fones Rd SE # A&B, Olympia, WA 98501 - Image 15
1438 Fones Rd SE # A&B, Olympia, WA 98501 - Image 16
1438 Fones Rd SE # A&B, Olympia, WA 98501 - Image 17
1438 Fones Rd SE # A&B, Olympia, WA 98501 - Image 18
1438 Fones Rd SE # A&B, Olympia, WA 98501 - Image 19
1438 Fones Rd SE # A&B, Olympia, WA 98501 - Image 20
1438 Fones Rd SE # A&B, Olympia, WA 98501 - Image 21
Studio

Multi-Family Home for sale in Olympia, WA

for $699,001. This 2,383 square foot home was built in 1955 on a lot size of 0.3505.

Excellent Location & Strong Investment Opportunity! Well-maintained units in great condition, featuring thoughtful interior updates completed over the past few years. The property benefits from ongoing city road improvements along Fones Road, enhancing accessibility and long-term value. Ideally situated in a close-in location and very close to a freeway exit, this property offers easy commuting and excellent convenience. Enjoy stable and reliable rental income in a highly accessible area. Located within an Opportunity Zone, providing potential tax advantages and appealing estate planning considerations. Owner-occupancy may be possible in Unit A—adding flexibility for investors or owner-users alike. Recent upgrades include: New roof (2025) New water heater Updated flooring Upgraded electrical panel Don’t miss this unique investment opportunity!

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Multi-Family Active

Price

$ 699,001

Bedrooms

Studio

Property Type

Multi-Family

Taxes

$ 6,996

Style

Duplex

Lot Size

0.3505

Year Built

1955

Town/City

Olympia

County/Region

Thurston

MLS | Web ID

2513731
Features
General
Living Area 0
Sewer Sewer Connected
Heating Baseboard
Cooling None
Possession Closing
Roof Composition
HOA Fee 0
Garage Spaces 2
Year Built 1955
Unit Number A&B
Property Subtype Multi Family
Tax Year 2025
County Thurston
Net Operating Income 38853
Insurance Expense 1200
New Construction N
Property Type Residential Income
HOA N
Energy Efficient Thermal Windows
Subdivision Name Olympia
Special Listing Conditions None
Status Active
Directions Take exit 107 from I-5 and Turn onto Pacific Ave SE and Turn right onto Fones Rd SE
High School Buyer To Verify
City Olympia
Senior Community Y/N N
High School District North Thurston
Number Of Units Total 2
MLS Area 448 - Olympia South
Lot Size Units Square Feet
Lot Size Square Feet 15268
Carport Spaces 0
Carport Y/N N
Listing Terms Cash Conventional FHA VA Loan
Elementary School Buyer To Verify
Tax Annual Amount 6996
Electric Expense 0
Fuel Expense 0
Middle/Junior High School Buyer To Verify
Public Remarks Excellent Location & Strong Investment Opportunity! Well-maintained units in great condition featuring thoughtful interior updates completed over the past few years. The property benefits from ongoi
Leasable Area 2383
Structure Type Duplex
Building Area Units Square Feet
Standard Status Active
Amenities Thermal Windows
Water Company City Of Olympia
Units Below Grade false
Water Sewer Garbage 2800
Property Style 52 - Duplex
Cap Rate 5.5
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Exterior
Exterior Amenities Brick Wood Wood Products
Lot Features Corner Lot
Water Source Public
Total Parking 4
Building Area Total 2383
Lot Size Acres 0.3505
Waterfront Y/N N
Covered Spaces 2
Irrigation Water Rights Y/N N
Parking Uncovered Total 2
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Interior
Flooring Laminate Carpet
Total Fireplaces 0
Total Stories 1
Air Conditioning Y/N N
Heating Y/N Y
Fireplace Y/N N
Power Production Type Electric
Baths Three Quarter Upper 0
Bedrooms Upper 0
Baths Half Upper 0
Baths Full Upper 0
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Internal Only
OriginalMLSID NWM2513731
Street Number 1 1438
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* Excluded Features
List By
Sateesh Kanchukatla

Listing Agent

Kelly Right Re Of Seattle Llc

Broker

Affordability Calculator

$4,887
Per Month
88%
12%
0%
Monthly Principal & Interest
$4,304
Monthly Property Taxes
$583
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
3100209 Elementary School
3100259 Middle School
Buyer To Verify High School High School
See complete school information
Pricing History
DatePricePrice ChangeDescription
5/7/2026$699,001 Listed Price

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1438 Fones Rd SE # A&B, Olympia, WA, 98501 is a Multi-Family Home for sale at $699,001 with 2,383 sqft and a lot size of 0.3505. 1438 Fones Rd SE # A&B is a studio with 0.0 baths and was built in 1955. The property's zip code is 98501 which is in Olympia, WA

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