5508 South Bay Terrace Drive NE Olympia, WA $ 1,450,000
5508 South Bay Terrace Drive NE
$ 1,450,000
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5508 South Bay Terrace Drive NE

Olympia, WA, 98516
$ 1,450,000
Bedrooms3 Baths3.0 Sq 3,329

Monthly Estimate*

$ 9,155

Listed by Realty One Group Bold
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View a Virtual Tour

Single Family Home for sale in Olympia, WA

for $1,450,000 with 3 bedrooms and 3 full baths. This 3,329 square foot home was built in 1968 on a lot size of 1.3.

Discover a rare 1.3-acre dual-parcel legacy estate in coveted South Bay Terrace. This 3,329-SF luxury home offers ~160 feet of low-bank saltwater frontage, a private bulkhead, and sweeping views across serene Henderson Inlet, up through Dana Passage. Ideally located near Boston Harbor and Woodard Bay Conservation Area, this sanctuary offers unrivaled access to Puget Sound’s most beautiful protected waters. Designed to frame the water from nearly every room, the home features a gourmet chef’s kitchen with granite countertops, hardwood finishes, a professional Viking range, and premium KitchenAid appliances. Expansive living areas are filled with natural light, while the daylight basement offers flexible space for multi-generational living, a home theater, or alfresco entertaining with direct access to the waterfront grounds. The finished garage features epoxy flooring with ample hobby-craft space. Fully landscaped grounds include new premium wood and wrought iron fencing, a vegetable garden, and a private orchard with mature apple, pear, and cherry trees. The children's area ensures fun for all. Rare, grandfathered assets include a floating boat dock and fully owned tidelands—providing exceptional privacy. A brand-new architectural roof and professionally permitted Generac standby generator with a 240-gallon propane system provide lasting peace of mind-whatever the season. Only minutes from Olympia's dynamic urban core, this is truly an incomparable waterfront property.

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Single Family Active

Price

$ 1,450,000

Bedrooms

3

Full Bath

3

Property Type

Single Family

Taxes

$ 10,563

Style

1 Story w/Bsmnt.

Lot Size

1.3

Year Built

1968

Town/City

Olympia

County/Region

Thurston

MLS | Web ID

2572068

Features
General
Living Area 3329
Sewer Septic Tank
Heating 90%+ High Efficiency Forced Air Heat Pump
Cooling Heat Pump
Possession Closing
Roof Composition See Remarks
Appliances Dishwasher Double Oven Dryer Microwave Refrigerator Stove(s)/Range(s) Washer
HOA Fee 0
Security Features Partially Fenced Security Gate Security System
Year Built 1968
View Bay Sound Territorial
Topography Partial Slope Terraces
Levels One
Property Subtype Single Family Residence
Tax Year 2026
Waterfront Features Low Bank Bayfront Sound
County Thurston
New Construction N
Property Type Residential
HOA N
Attached Garage Y
Subdivision Name Henderson Inlet
Facing Direction West
Garage Y/N Y
Full Baths 2
Special Listing Conditions None
Status Active
Directions GPS shows location: From I-5 exit to North on Sleater Kinney right on 54th Ave SE into South Bay Terrace community. Road bends left to South Bay Terrace Drive. Home on waterside/right.
City Olympia
Senior Community Y/N N
High School District North Thurston
MLS Area 445 - Boston Harbor
Lot Size Units Square Feet
Lot Size Square Feet 56628
Carport Y/N N
Listing Terms Cash Conventional FHA VA Loan
Land Lease Y/N N
Tax Annual Amount 10563
Property Condition Good
Public Remarks Discover a rare 1.3-acre dual-parcel legacy estate in coveted South Bay Terrace. This 3 329-SF luxury home offers ~160 feet of low-bank saltwater frontage a private bulkhead and sweeping views across
Virtual Tour https://listings.imageartsphoto.com/videos/01a0630e-3e40-70af-ba18-dc82326fc9fe
Structure Type House
Building Area Units Square Feet
Standard Status Active
Water Company South Bay Community
Property Style 16 - 1 Story w/Bsmnt.
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Interior
Interior Amenities Second Kitchen Bath Off Primary Fireplace Pantry Security System Water Heater Wine/Beverage Refrigerator Wired for Generator
Basement Daylight
Flooring Vinyl Carpet
Total Fireplaces 2
Fireplace Features Gas
Air Conditioning Y/N Y
Heating Y/N Y
Fireplace Y/N Y
Half Baths 0
3/4 Baths 1
Total Bedrooms 3
Main Level Bedrooms 3
Total Baths 3
Bedrooms Possible 3
Water Heater Type Electric
Water Heater Location Basement storage
Fireplaces Main 1
Fireplaces Lower 1
Power Production Type Electric Propane
Baths Three Quarter Garage 0
Baths Three Quarter Lower 1
Baths Three Quarter Main 0
Baths Three Quarter Upper 0
Bedrooms Lower 0
Bedrooms Upper 0
Baths Half Upper 0
Baths Half Main 0
Baths Half Lower 0
Baths Half Garage 0
Baths Full Upper 0
Baths Full Main 2
Baths Full Lower 0
Baths Full Garage 0
Bathrooms 2.75
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Exterior
Exterior Amenities Wood
Vegetation Fruit Trees Garden Space
Parking Features Driveway Attached Garage RV Parking
Lot Features Dead End Street Paved Secluded
Water Source Community
Total Parking 2
Inclusions Dishwasher(s) Double Oven Dryer(s) Microwave(s) Refrigerator(s) Stove(s)/Range(s) Washer(s)
Foundation Details Poured Concrete
Building Area Total 3329
Lot Size Acres 1.3
Waterfront Y/N Y
Covered Spaces 2
Irrigation Water Rights Y/N N
Waterfront Footage 160
Site Features Deck Dock Fenced-Partially Gated Entry Outbuildings Outdoor Fireplace Patio Propane RV Parking
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Internal Only
OriginalMLSID NWM2572068
Street Number 1 5508
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* Excluded Features
List By
James Clerget

Listing Agent

Realty One Group Bold

Broker

Affordability Calculator

$10,036
Per Month
91%
9%
0%
Monthly Principal & Interest
$9,155
Monthly Property Taxes
$880
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
257450 Elementary School
258892 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
9/3/2026$1,450,000 Listed Price

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5508 South Bay Terrace Drive NE, Olympia, WA, 98516 is a Single Family Home for sale at $1,450,000 with 3,329 sqft and a lot size of 1.3. 5508 South Bay Terrace Drive NE has 3 bedrooms, 3.0 baths, and was built in 1968. The property's zip code is 98516 which is in Olympia, WA