503 Devoe Street NE, Olympia, WA 98506 (MLS # 2453507)

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Listing provided courtesy of Northwest MLS; Capitol Real Estate LLC

PRICE $650,000 dsIDX morgage calculator
BEDS 0
BATHS 0
HOME SIZE 2,422 sqft
LOT SIZE 19,245 sqft
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Strong investment opportunity with immediate cash flow. Situated on the Eastside of Olympia within the UGA"”just outside city limits"”this property is not subject to the City of Olympia's newer landlord-tenant regulations. Built in 2011, the duplex features two well-designed units: a 3 bed, 2 bath and a 2 bed, 1 bath. The 2-bedroom unit has been recently remodeled with LVP flooring, quartz countertops, new cabinetry, millwork, trim, doors, appliances, and fresh interior paint. Each unit includes a 1-car garage, enhancing tenant appeal. The property sits on a spacious lot just shy of half an acre and offers valuable development upside. Zoned to accommodate two duplexes, there is potential to add a second structure with sewer connection. With a 6.34% cap rate, desirable Olympia School District, and strong future growth potential, this is a compelling addition to any investment portfolio.

LAST UPDATED 4/13/2026 TRACT Eastside Olympia
YEAR BUILT 2011 COMMUNITY Eastside Olympia
GARAGE SPACES 2.0 COUNTY Thurston
STATUS Active PROPERTY TYPE(S) Multi Family

SCHOOLS
Elementary School Roosevelt Elementary
Jr. High School Reeves Mid
High School Olympia High

PRICE HISTORY
Prior to Jan 7, '26 $715,000
Jan 7, '26 - Apr 13, '26 $698,000
Apr 13, '26 - Today $650,000


ADDITIONAL DETAILS
AIR None
AREA 447 - Olympia North
CONSTRUCTION Cement Siding
GARAGE Yes
HEAT Electric, Forced Air, Natural Gas
LOT 0.4418 acre(s)
LOT DESCRIPTION Dead End Street, Paved
MLS STATUS Active
STORIES 2
STYLE 52 - Duplex
SUBDIVISION Eastside Olympia
TAXES 6873
UTILITIES Cable Available, Sewer Connected
WATER Public
ZONING Multi-Family,Residential
MORTGAGE CALCULATOR
   

TOTAL MONTHLY PAYMENT

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Properties with the Logo icon are courtesy of Northwest MLS.

Listings courtesy of Northwest MLS as distributed by MLS GRID. Based on information submitted to the MLS GRID as of 5/2/26 2:17 AM PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. IDX information is provided exclusively for consumers’ personal noncommercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

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