1624 Decatur Street SW Olympia, WA $ 3,625,000
1624 Decatur Street SW
$ 3,625,000
Recently Listed New Construction
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1624 Decatur Street SW

Olympia, WA, 98502
$ 3,625,000
Bedrooms24 Baths24.0 Sq 11,856

Monthly Estimate*

$ 22,889

Listed by Capitol Real Estate LLC
1624 Decatur Street SW, Olympia, WA 98502 - Image 1
1624 Decatur Street SW, Olympia, WA 98502 - Image 2
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1624 Decatur Street SW, Olympia, WA 98502 - Image 4
1624 Decatur Street SW, Olympia, WA 98502 - Image 5
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1624 Decatur Street SW, Olympia, WA 98502 - Image 7
1624 Decatur Street SW, Olympia, WA 98502 - Image 8
1624 Decatur Street SW, Olympia, WA 98502 - Image 9
1624 Decatur Street SW, Olympia, WA 98502 - Image 10
1624 Decatur Street SW, Olympia, WA 98502 - Image 11
1624 Decatur Street SW, Olympia, WA 98502 - Image 12
1624 Decatur Street SW, Olympia, WA 98502 - Image 13

Multi-Family Home for sale in Olympia, WA

for $3,625,000 with 24 bedrooms and 24 full baths. This 11,856 square foot home was built in 2026 on a lot size of 0.5239.

Exceptional opportunity to acquire 4 brand-new duplexes in highly desirable West Olympia. Built for long-term, low-maintenance ownership, these turnkey investment properties offer modern construction with minimal capital expenditure concerns for years to come. Located in a strong rental market characterized by high demand, low vacancy rates, and attractive rental income potential, these duplexes are well-positioned for consistent cash flow and long-term appreciation. Situated at the end of a private dead-end street, the properties offer a quiet setting that appeals to quality tenants while remaining conveniently close to major employers, shopping, schools, and commuter routes. Whether you're looking to expand your portfolio or complete a 1031 exchange, this is a rare opportunity to invest in newly constructed multifamily assets in one of Olympia's most sought-after rental locations.

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Multi-Family Active

Price

$ 3,625,000

Bedrooms

24

Full Bath

24

Property Type

Multi-Family

Taxes

$ 21,250

Style

5-9 Units

Lot Size

0.5239

Year Built

2026

Town/City

Olympia

County/Region

Thurston

MLS | Web ID

2552161

Features
General
Living Area 0
Sewer Sewer Connected
Heating Forced Air Heat Pump
Cooling Heat Pump
Possession Closing
Roof Composition
HOA Fee 0
Garage Spaces 8
Year Built 2026
Property Subtype Multi Family
Tax Year 2026
County Thurston
Net Operating Income 237120
Insurance Expense 5400
New Construction Y
Property Type Residential Income
HOA N
Subdivision Name Westside
Special Listing Conditions None
Status Active
Directions Black Lake Blvd East on 9th Right on Decatur St to property on the left.
High School Capital High
City Olympia
Senior Community Y/N N
High School District Olympia
Number Of Units Total 8
MLS Area 444 - Olympia Westside
Lot Size Units Square Feet
Lot Size Square Feet 22820
Carport Spaces 0
Carport Y/N N
Listing Terms Cash Conventional
Elementary School Hansen Elementary
Tax Annual Amount 21250
Middle/Junior High School Marshall Middle
Property Condition Under Construction
Public Remarks Exceptional opportunity to acquire 4 brand-new duplexes in highly desirable West Olympia. Built for long-term low-maintenance ownership these turnkey investment properties offer modern construction w
Leasable Area 11856
Structure Type Multi Family
Building Area Units Square Feet
Standard Status Active
Water Company City of Olympia
Units Below Grade false
Units In Building Total 8
Property Style 55 - 5-9 Units
Cap Rate 6.5
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Exterior
Exterior Amenities Cement Planked
Lot Features Paved
Water Source Public
Total Parking 16
Foundation Details Poured Concrete
Building Area Total 11856
Lot Size Acres 0.5239
Waterfront Y/N N
Covered Spaces 8
Irrigation Water Rights Y/N N
Parking Uncovered Total 8
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Interior
Flooring Vinyl Carpet
Total Fireplaces 0
Total Stories 2
Air Conditioning Y/N Y
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 NWM2552161
Street Number 1 1624
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* Excluded Features
List By
Justin W Hjelm

Listing Agent

Capitol Real Estate Llc

Broker

Affordability Calculator

$24,659
Per Month
93%
7%
0%
Monthly Principal & Interest
$22,889
Monthly Property Taxes
$1,771
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.49% 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
3108827 Elementary School
3108223 Middle School
Capital High High School
Pricing History
DatePricePrice ChangeDescription
7/9/2026$3,625,000 Listed Price

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1624 Decatur Street SW, Olympia, WA, 98502 is a Multi-Family Home for sale at $3,625,000 with 11,856 sqft and a lot size of 0.5239. 1624 Decatur Street SW has 24 bedrooms, 24.0 baths, and was built in 2026. The property's zip code is 98502 which is in Olympia, WA