Listed by John Stormans • Olympic Sotheby's Int'l Realty. Bought with Keller Williams South Sound.
Off Market Oct 2022 for $500K
$622,770
Est. refi paymentEst. refi$1,812/mo
—
bd
•
— ba
•
3,912
sq ft
8401 Rainier Rd SE, Olympia, WA 98513
About this home
Great investment opportunity with potential upside. Two manufactured homes on 2+/- acre lot with a 30x30 shop, multiple car ports, storage container, additional outbuildings, and two RV hookups. One home just signed a lease for $1825, with the other home and shop currently vacant. Both RV hookups are currently unused as well. Homes are in good condition with metal roofs, clean and easy to maintain interiors, and both have their own private yards. A great option for an owner occupant that wants to live in one home and rent the other, as well as an investor looking for increasingly hard to find cash flow. Pro forma cap rate of 6.6%.
Multi-familyProperty Type
1981Year Built
2.39 acresLot Size
$159Est. Price/Sq.Ft.
6 spacesParking
Listed by John Stormans• Olympic Sotheby's Int'l Realty
Bought with Ioannis Piliaris• Keller Williams South Sound
Matt Guile-Boessow • Olympic Sotheby's Int'l Realty
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Provided by Redfin
Sale history for 8401 Rainier Rd SE
Date
Event
Price
Oct 14, 2022
Sold (MLS) (Closed)
NWMLS as Distributed by MLS Grid #1922178
$500,000
$128/sq ft
Oct 12, 2022
Pending
NWMLS as Distributed by MLS Grid #1922178
—
Aug 2, 2022
Relisted (Active Under Contract)
NWMLS as Distributed by MLS Grid #1922178
—
Aug 1, 2022
Pending
NWMLS as Distributed by MLS Grid #1922178
—
Jun 10, 2022
Price Changed
NWMLS as Distributed by MLS Grid #1922178
$549,950
$141/sq ft
Apr 27, 2022
Listed (Active)
NWMLS as Distributed by MLS Grid #1922178
$575,000
$147/sq ft
May 3, 2019
Sold
Public Records
$290,000
$74/sq ft
Jun 16, 1988
Sold
Public Records
$48,000
$12/sq ft
Year
Property tax
Land + Additions
Assessment*
2026
$5,095 (+6.9%)
$272,300 + $199,600
$471,900
2025
$4,764 (+5.2%)
$272,300 + $199,600
$471,900
2024
$4,530 (+5.3%)
$233,600 + $205,800
$439,400
2023
$4,300 (−9.1%)
$258,200 + $194,700
$452,900
2022
$4,730 (+22.4%)
$159,000 + $264,000
$423,000
2021
$3,866 (+1.5%)
$164,800 + $220,400
$385,200
2020
$3,811 (+8.8%)
$144,500 + $144,700
$289,200
2019
$3,503 (−9.7%)
$145,500 + $150,400
$295,900
2018
$3,878 (+20.1%)
$120,300 + $139,800
$260,100
2017
$3,229 (+3.2%)
$120,300 + $139,800
$260,100
2016
$3,128 (+2.2%)
$112,550 + $109,100
$221,650
2015
$3,061 (−4.9%)
$115,600 + $105,700
$221,300
2014
$3,217 (+12.5%)
$103,550 + $138,700
$242,250
2013
$2,861 (−2.2%)
$103,550 + $138,700
$242,250
2012
$2,924 (+1.1%)
$103,550 + $101,700
$205,250
2011
$2,891 (+5.2%)
$112,800 + $115,300
$228,100
2010
$2,748 (−5.1%)
$126,750 + $117,500
$244,250
2009
$2,897
$126,750 + $123,300
$250,050
Tax history for 8401 Rainier Rd SE
Year
Property tax
Land + Additions
Assessment*
2026
$5,095 (+6.9%)
$272,300 + $199,600
$471,900
2025
$4,764 (+5.2%)
$272,300 + $199,600
$471,900
2024
$4,530 (+5.3%)
$233,600 + $205,800
$439,400
2023
$4,300 (−9.1%)
$258,200 + $194,700
$452,900
2022
$4,730 (+22.4%)
$159,000 + $264,000
$423,000
2021
$3,866 (+1.5%)
$164,800 + $220,400
$385,200
2020
$3,811 (+8.8%)
$144,500 + $144,700
$289,200
2019
$3,503 (−9.7%)
$145,500 + $150,400
$295,900
2018
$3,878 (+20.1%)
$120,300 + $139,800
$260,100
2017
$3,229 (+3.2%)
$120,300 + $139,800
$260,100
2016
$3,128 (+2.2%)
$112,550 + $109,100
$221,650
2015
$3,061 (−4.9%)
$115,600 + $105,700
$221,300
2014
$3,217 (+12.5%)
$103,550 + $138,700
$242,250
2013
$2,861 (−2.2%)
$103,550 + $138,700
$242,250
2012
$2,924 (+1.1%)
$103,550 + $101,700
$205,250
2011
$2,891 (+5.2%)
$112,800 + $115,300
$228,100
2010
$2,748 (−5.1%)
$126,750 + $117,500
$244,250
2009
$2,897
$126,750 + $123,300
$250,050
*Taxable value of land and structures on it ("additions") is determined regularly by local assessors and does not affect market price.
Public record
Public record
Zoning
Beds
—
Baths
—
Stories
—
Lot width
—
Lot depth
—
Lot size
2.39 Acres
Year renovated
—
Sq. Ft.
1,296
Year built
1981
Style
Mobile/Manufactured Home
County
Thurston County
APN
11715210300
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Sep 18, 2026.
RRR1/5
Rural Residential/Resource One Dwelling Unit Per Five Acre District
The purpose of this chapter is to encourage residential development that maintains the county's rural character; provides opportunities for compatible agricultural, forestry and other rural land uses; is sensitive to the site's physical characteristics; provides greater opportunities for protecting sensitive environmental areas and creating open space corridors; enables efficient road and utility systems; and does not create demands for urban level services.