NEW CONSTRUCTION

Listed by Justin Hjelm • Capitol Real Estate LLC.

For sale

$3,625,000

Est. $22,072/mo —

•

24 ba

•

11,856

sq ft

1624 Decatur St SW, Olympia, WA 98502

About this home

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.

Multi-familyProperty Type

2026Year Built

0.52 acresLot Size

$306Price/Sq.Ft.

8 car garageParking

Listed by Justin Hjelm • Capitol Real Estate LLC

Listing updated: Oct 7, 2026 at 11:26am

Redfin checked: a minute ago

•Source:NWMLS as Distributed by MLS Grid #2552161

Payment calculator

$22,072 per month

Principal and interest$20,030

Property taxes

$1,771

HOA dues

Home insurance

$272

Utilities

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Around this home

Schools

K - 12
Preschool & daycare

Julia Butler Hansen Elementary School

Public PreK-5 • Assigned • 2.5mi

5/10

Thurgood Marshall Middle School

Public 6-8 • Assigned • 2.4mi

7/10

Provided by GreatSchools

About South

Westside

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

Property details

Interior
Exterior
Finance

Interior features
Vinyl and carpet flooring

Bedrooms
Eight 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
Heat pump heating and cooling

Sale and tax history for 1624 Decatur St SW

Sale History
Tax History

Public record

Beds

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Baths

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Stories

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Lot width

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Lot depth

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Lot size

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Year renovated

—

Finished Sq. Ft.

—

Unfinished Sq. Ft.

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Total Sq. Ft.

—

Year built

—

Style

Vacant Land

County

Thurston County

APN

38703301000

Parking Spaces

—

Basement

—

Accessible

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HOA Dues

—

Garage

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Features

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Last updated by owner on Apr 14, 2026.

Climate risks

1/10 Flood Factor

Minimal risk of a flood reaching the building in the next 30 years

1/10 Fire Factor

Unlikely to be in a wildfire in next 30 years

2/10 Heat Factor

7 days above 89° expected this year, 13 days in 30 years

1/10 Wind Factor

Minimal risk of severe winds over next 30 years

6/10 Air Factor

7 unhealthy days expected this year, 8 days in 30 years

Provided by First Street

Historical weather

Olympia, WA • 98502

Average low and high temperatures (°F)

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Sun exposure

35/ 100

Low sunlight

Sunscore

There appears to be significant shading by surrounding buildings, terrain, and vegetation.

4.8 hrs

1.5 hrs

JuneDecember

Provided by Shadowmap

Redfin Estimate for 1624 Decatur St SW

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Listed by Capitol Real Estate LLC

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