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About this home
Exceptional opportunity to acquire 2 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.
South Westside, located between Capitol Lake and the Black Hills, is a residential and artsy Olympia neighborhood with hillside streets and a salt-air edge. The neighborhood’s character concentrates around the Harrison Avenue corridor near the 4th Avenue Bridge, where coffee counters, small galleries, and corner eateries set a steady, walk-and-bike rhythm. The Olympia Farmers Market, the Hands On Children’s Museum, and the historic Capitol Theater act as cultural pillars close by. Housing leans Craftsman bungalows and mid-century homes, with pockets of newer infill. Side streets slope toward the water, and views open up near the lake. Parks and trails stitch daily routines to downtown and the waterfront.
Provided by Walk Score and Local Logic
Market insights
1620 Decatur St SW · $1,625,000
SALE-TO-LIST
97.3%
Most homes are selling 3% below list price.
LIST PRICE
$1,625,000
Median list price in this area is $569,690. (65% lower than this home)
PRICE DROP
0 price drops
25% of homes in this area have had a price drop in the past month.
Property details
Interior
Exterior
Finance
Interior features
Vinyl and carpet flooring
Bedrooms
Four units with 3 bedrooms each
Bathrooms
Each unit has 3 bathrooms
Kitchen
Each unit includes a range/oven
Each unit includes a refrigerator
Each unit includes a dishwasher
Laundry & utility
Each unit includes a washer and dryer
Flooring
Vinyl
Carpet
Heating & cooling
Forced air heating with heat pump
Heat pump cooling
Exterior features
Cement-planked exterior
Paved lot
Home design
Residential income property (multi-family)
Duplex structure with 2 stories
Under construction / new construction (estimated completion 2026-09-30)
Parking
Four covered spaces
Four garage spaces
Four uncovered spaces (total 4 uncovered)
Construction
Cement plank construction
Composition roof
Poured concrete foundation
Under construction (new construction)
Utilities
Electric energy source
Public water (City of Olympia)
Sewer connected (City of Olympia)
Power provided by PSE
Cable and internet via Comcast/Infinity
Financial info
Listing terms: Cash or Conventional
Total monthly income reported: $10,980
Four rental units (total building area 5,928 sq ft)
Other
Units in building: 4
No units below grade
Calculated building area: 5,928 square feet
Estimated completion date: 2026-09-30
Electricity and solar
View estimated energy costs and solar savings for this home