Newly Built Duplex
For Sale
$1,625,000
1620 Decatur, Olympia, WA 98502
Two new duplex buildings offer modern construction in a private, no-through street setting.
Property Size5,928 SF
Price / SF$274.12
Days on Market104
Property Features for 1620 Decatur
General Information
Standard status
Active
Size
5,928 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
4
Building Details
Year Built
2026
Buildings
2
Listing Agency:
Capitol Real Estate LLC
Listed By:
Justin W Hjelm
(360) 489-6439
Source:
Skylineproperties
Added: Jun 29
Changed: Oct 10
Last Checked: Oct 10 at 1:38AM
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
Investment Insights
Based on property information with market context.
This offering includes two newly constructed duplex buildings at 1620 Decatur St SW in Olympia, Washington. The properties feature modern construction and are positioned for ownership with limited near-term capital expenditure concerns based on their new condition.
The buildings sit at the end of a private dead-end street in West Olympia, providing a quieter residential setting. The location is described as convenient to major employers, shopping, schools, and commuter routes. The property may also suit an owner completing a 1031 exchange, as identified in the offering information.
The buildings sit at the end of a private dead-end street in West Olympia, providing a quieter residential setting. The location is described as convenient to major employers, shopping, schools, and commuter routes. The property may also suit an owner completing a 1031 exchange, as identified in the offering information.
Key Highlights
- Two brand‑new duplex buildings
- Modern construction designed for low‑maintenance ownership
- Located at the end of a private dead‑end street
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$80,631
Cap Rate
4.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,612,620
$1.6M
Cap Rate 7%
$1,151,871
$1.2M
Cap Rate 9%
$895,900
$895.9K
Market Conditions
NOI Build-Up for 5,928 SF
Gross rent
$120.9K $20.40/SF
− Vacancy
−$5.7K −$0.97/SF
EGI
$115.2K $19.43/SF
− OpEx
−$34.6K −$5.83/SF
NOI
$80.6K $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%
$1,612,620
Cap Rate 7%
$1,151,871
Cap Rate 9%
$895,900
Alternative Uses
Best Use
Multifamily LT 5
$1.15M
$1.01M – $1.34M
NOI $80,631 @ 7.0% cap · market cap 4.96%
Second Best
Apartment 5plus
$1.06M
$929.2K – $1.24M
NOI $74,337 @ 7.0% cap · market cap 4.57%
Theoretical Best
Office A
$1.74M
$1.52M – $2.03M
NOI $121,500 @ 7.0% cap · market cap 7.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two new duplex buildings offer modern construction in a private, no-through street setting.
Where is this duplex located?
The property is located at 1620 Decatur Olympia, WA.
What is the asking price?
The asking price for this property is $1,625,000.
What are key features of this property?
This property features: Two brand‑new duplex buildings; Modern construction designed for low‑maintenance ownership; Located at the end of a private dead‑end street
