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    2123 9Th Ave SW Olympia, WA 98502

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    For Sale
    $1,250,000

    2.33+/- acres zoned RM-24 in desirable Westside neighborhood.

    Property size:
    101,495 SF

    Property Features for 2123 9Th Ave SW

    General Information

    Standard status
    Active
    Size
    101,495 SF

    Source: GREENE COMMERCIAL Agent MAX STOTTLEMYRE

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Olympia Multifamily Development Opportunity

    This property presents a development opportunity in the city of Olympia. It comprises 2.33+/- acres zoned RM-24, with potential for increased density. Situated on the corner of 9th and Fern in the Westside neighborhood, the location offers proximity to amenities and lies between the Capital Mall and Downtown Olympia. The site includes a 1408+/- sqft home that requires renovation, but could potentially generate rental income while development permits are being processed. Given the increasing demand for housing, this property is suitable for constructing a multifamily development.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Realty agency Restaurant Law Firm Dental Office Spa & Massage Hair Salon Nail Salon Building Supply Auto Repair Shop Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Olympia
    County
    Thurston
    State
    Washington
    Longitude
    -122.9281293
    Latitude
    47.0393259

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    FAQs

    What type of property is this?
    Residential land & home lot - 2.33+/- acres zoned RM-24 in desirable Westside neighborhood.
    Where is this residential land & home lot located?
    The property is located at 2123 9Th Ave SW Olympia, WA.
    What is the asking price?
    The asking price for this property is $1,250,000.
    What are key features of this property?
    This property features: - Large 2.33+\/- acre multifamily development opportunity in Olympia.; - Zoned RM-24 with potential for increased density.; - Prime location in the desirable Westside neighborhood.
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2123 9Th Ave SW Olympia, WA 98502
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