Updated Duplex with Individual
For Sale
$595,000
2015 2017 8th Ct SW, Olympia, WA 98502
Two refreshed units offer private outdoor areas and heat-pump heating and cooling.
Property Size1,862 SF
Price / SF$319.55
Days on Market82
Property Features for 2015 2017 8th Ct SW
General Information
Standard status
Active
Size
1,862 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
updated kitchens
updated appliances
updated water heaters
updated windows
updated paint
heat pumps
hardwood floors
individual garages
private patios
back yard
common area landscaping
Building Details
Year Built
1977
Buildings
1
Listing Agency:
Windermere RE/Himlie
Listed By:
Brady Fuller · License #85640
(360) 426-2646
Source:
Montgomeryht
Added: Jul 26
Changed: Oct 9
Last Checked: Oct 5 at 8:16PM
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 Windermere RE/Himlie
Investment Insights
Based on property information with market context.
This 1,862-square-foot duplex contains two matching residences, each with 2 bedrooms and 1 bath. Improvements include remodeled kitchens, appliances, water heaters, windows, and interior paint. Heat pumps provide heating and cooling, while real hardwood flooring extends through the main living areas. Each unit has its own garage and a private patio, with an expansive backyard serving the property.
Built in 1977, the property is located at 2015 2017 8th Ct SW in Olympia. It sits on a quiet dead-end street near schools, shopping, healthcare, Hwy 101, and I-5. HOA-maintained landscaping covers the shared common area. One residence is currently leased, while the other is being held vacant for the sale.
Built in 1977, the property is located at 2015 2017 8th Ct SW in Olympia. It sits on a quiet dead-end street near schools, shopping, healthcare, Hwy 101, and I-5. HOA-maintained landscaping covers the shared common area. One residence is currently leased, while the other is being held vacant for the sale.
Key Highlights
- Two‑unit duplex with 1,862 SF of total property size
- Each residence includes 2 beds and 1 bath
- Updated kitchens, appliances, water heaters, windows, and paint
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,326
Cap Rate
4.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$506,520
$506.5K
Cap Rate 7%
$361,800
$361.8K
Cap Rate 9%
$281,400
$281.4K
Market Conditions
NOI Build-Up for 1,862 SF
Gross rent
$38.0K $20.40/SF
− Vacancy
−$1.8K −$0.97/SF
EGI
$36.2K $19.43/SF
− OpEx
−$10.9K −$5.83/SF
NOI
$25.3K $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%
$506,520
Cap Rate 7%
$361,800
Cap Rate 9%
$281,400
Alternative Uses
Best Use
Multifamily LT 5
$361.8K
$316.6K – $422.1K
NOI $25,326 @ 7.0% cap · market cap 4.26%
Second Best
Apartment 5plus
$333.6K
$291.9K – $389.2K
NOI $23,349 @ 7.0% cap · market cap 3.92%
Theoretical Best
Office A
$545.2K
$477.1K – $636.1K
NOI $38,164 @ 7.0% cap · market cap 6.41%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,641
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 refreshed units offer private outdoor areas and heat-pump heating and cooling.
Where is this duplex located?
The property is located at 2015 2017 8th Ct SW Olympia, WA.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,862 SF of total property size; Each residence includes 2 beds and 1 bath; Updated kitchens, appliances, water heaters, windows, and paint
