Newly Built
For Sale
$819,000
1610 Decatur St SW, Olympia, WA 98502
Two-unit residential income property completed in 2026 on a private dead-end street in Olympia.
Property Size2,964 SF
Price / SF$276.32
Days on Market93
Property Features for 1610 Decatur St SW
General Information
Standard status
Active
Size
2,964 SF
Property subtype
Multi-Family
Building Details
Year Built
2026
Tenancy
Multi
Listing Agency:
Capitol Real Estate LLC
Listed By:
Justin W Hjelm
(360) 489-6439
Source:
Chehalisvalleyrealty
Added: Jul 16
Changed: Oct 8
Last Checked: Oct 7 at 3:33PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Capitol Real Estate LLC
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Investment Insights
Based on property information with market context.
This duplex property was completed in 2026 and offers newly constructed residential income space in Olympia. Its placement at the end of a private dead-end street provides a quieter setting within a residential environment.
The property is located at 1610 Decatur St SW in Olympia, Washington, with proximity to major employers, shopping, schools, and commuter routes. The asset is suited to multifamily ownership and forms part of the residential income property classification.
The property is located at 1610 Decatur St SW in Olympia, Washington, with proximity to major employers, shopping, schools, and commuter routes. The asset is suited to multifamily ownership and forms part of the residential income property classification.
Key Highlights
- Completed in 2026
- Duplex configuration
- Situated at the end of a private dead‑end street
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,315
Cap Rate
4.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$806,300
$806.3K
Cap Rate 7%
$575,929
$575.9K
Cap Rate 9%
$447,944
$447.9K
Market Conditions
NOI Build-Up for 2,964 SF
Gross rent
$60.5K $20.40/SF
− Vacancy
−$2.9K −$0.97/SF
EGI
$57.6K $19.43/SF
− OpEx
−$17.3K −$5.83/SF
NOI
$40.3K $13.60/SF
Area
Thurston County, WA
Vacancy
4.75%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$806,300
Cap Rate 7%
$575,929
Cap Rate 9%
$447,944
Alternative Uses
Best Use
Multifamily LT 5
$575.9K
$503.9K – $671.9K
NOI $40,315 @ 7.0% cap · market cap 4.92%
Second Best
Apartment 5plus
$531.0K
$464.6K – $619.5K
NOI $37,169 @ 7.0% cap · market cap 4.54%
Theoretical Best
Office A
$867.9K
$759.4K – $1.01M
NOI $60,750 @ 7.0% cap · market cap 7.42%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
663
Businesses Nearby
Explore this area
Business Placement
Demographics for 98502, WA
35,698
Population
15,550
Households
2.3
Avg Household Size
41
Median Age
52%
College-Educated
97%
High-School Grad
63.4 sq mi
ZIP Area
563
Density / Sq Mi
$87,154
Median Household Income
$46,404
Median Earnings
$1,569
Median Rent
$496,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential income property completed in 2026 on a private dead-end street in Olympia.
Where is this duplex located?
The property is located at 1610 Decatur St SW Olympia, WA.
What is the asking price?
The asking price for this property is $819,000.
What are key features of this property?
This property features: Completed in 2026; Duplex configuration; Situated at the end of a private dead‑end street
