521 & 523 Boulevard Road SE, Olympia, WA 98501 (MLS # 2516854)
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Listing provided courtesy of Northwest MLS; Keller Williams Realty PS
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RARE OLYMPIA INVESTMENT + DEVELOPMENT OPPORTUNITY! Two 2-bedroom, 1-bath rental homes PLUS a separate adjacent 5,779 sq. ft. building lot"”all offered together at $499,950. Live in one, rent both, or explore future development possibilities while maintaining existing rental income. 523 Boulevard Rd SE is 769 sq. ft., built in 1962, and features a newer roof, siding and flooring. It was rented for $1,670/month. 521 is 839 sq. ft., built in 1965, and offers additional upside with some TLC; current rent is well below market at $787.50/month on a month-to-month basis. Each home includes a carport. The adjacent lot offers exciting potential for investors and developers. Explore building while retaining rental income, or investigate condominiumization or short-plat possibilities for individual resale. Alley access may provide additional flexibility (buyer to verify). Each lot is approximately 5,779 sq. ft. and zoning allows 4-8 units per acre. Commercial zoning is nearby on the other side of the street. Recent property-management inspections are available upon request. Combined square footage of both residences is reflected in the listing. Taxes: $4,658.11 for 521/523 and $1,824.27 for the additional lot. Please do not disturb tenants. Interior viewing of 521 upon mutual acceptance. Two homes. Two lots. Existing income. Future potential"”all for $499,950!
| LAST UPDATED | 8/29/2026 | TRACT | Olympia |
|---|---|---|---|
| YEAR BUILT | 1962 | COMMUNITY | Olympia |
| COUNTY | Thurston | STATUS | Active |
| PROPERTY TYPE(S) | Single Family |
| Elementary School | Buyer To Verify |
|---|---|
| Jr. High School | Buyer To Verify |
| High School | Buyer To Verify |
| PRICE HISTORY | |
| Prior to May 20, '26 | $599,950 |
|---|---|
| May 20, '26 - Jul 22, '26 | $575,000 |
| Jul 22, '26 - Aug 26, '26 | $549,000 |
| Aug 26, '26 - Aug 29, '26 | $520,000 |
| Aug 29, '26 - Today | $499,950 |
| ADDITIONAL DETAILS | |
| AIR | None |
|---|---|
| APPLIANCES | Electric Water Heater, Refrigerator, Water Heater |
| AREA | 447 - Olympia North |
| BASEMENT | None |
| CONSTRUCTION | Wood Siding |
| HEAT | Baseboard, Electric |
| INTERIOR | Water Heater |
| LOT | 0.2653 acre(s) |
| LOT DESCRIPTION | Paved |
| LOT DIMENSIONS | 110 x 53 & 110 X 53 |
| MLS STATUS | Active |
| PARKING | Attached Carport |
| STORIES | 1 |
| STYLE | 10 - 1 Story |
| SUBDIVISION | Olympia |
| TAXES | 6482.38 |
| UTILITIES | Sewer Connected |
| VIEW | Yes |
| VIEW DESCRIPTION | Territorial |
| WATER | Public |
TOTAL MONTHLY PAYMENT
| SATELLITE VIEW |
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Properties with the 
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 9/13/26 8:30 PM 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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