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.
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
Forced air heating with heat pump
Cooling provided by heat pump
Bedrooms
Eight 3-bedroom units (each unit listed as 3 bedrooms)
Bathrooms
Eight 3-bath units (each unit listed as 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 for heating and cooling
Exterior features
Cement-planked exterior
Paved lot
Home design
Multi-family residential property
5–9 unit style code
2 stories
Under construction / New construction (estimated completion 2026-09-30)
Parking
Eight covered/garage spaces
Total of eight uncovered parking spaces
Construction
Cement plank (fiber cement) construction
Composition roof
Poured concrete foundation
New construction / under construction
Utilities
Electric service
Public water (served by City of Olympia)
Sewer connected (City of Olympia)
Power provided by PSE
Cable and internet connected via Comcast/Infinity
Financial info
Listing terms: Cash or Conventional
Gross scheduled income: $263,520
Net operating income: $237,120
Total monthly income reported: $21,960
Insurance expense: $5,400
Individual actual rent listed: $2,745 per unit for each of the eight units
Other
Estimated building area: 11,856 square feet
Lot size: 0.5239 acres (lot reported in county records)
Zoning jurisdiction: City
Electricity and solar
View estimated energy costs and solar savings for this home