Occupied Duplex with
For Sale
$470,000
4424 NW Ridgewood Court A & B, Olympia, WA 98502
Two residential units provide private living areas, galley kitchens, laundry hookups, and access to guest parking.
Property Size1,860 SF
Price / SF$252.69
Days on Market94
Property Features for 4424 NW Ridgewood Court A & B
General Information
Standard status
Active
Size
1,860 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1976
Buildings
1
Listing Agency:
The Rants Group
Listed By:
Jeri L Snyder · License #21035292
Source:
Navidirealty
Added: Jul 15
Changed: Oct 14
Last Checked: Oct 7 at 2:00PM
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 The Rants Group
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This two-unit residential property was built in 1976 and includes a consistent layout in each residence: two bedrooms, one bathroom, a galley kitchen, dining area, living room, and a one-car garage with laundry space and washer and dryer hookups. Double-pane windows serve both units, which are currently occupied under month-to-month arrangements.
The property sits on a quiet cul-de-sac at 4424 NW Ridgewood Court A & B in Olympia. Schools, shopping, dining, parks, and essential services are located nearby, with access to major routes. Unit A received a new septic tank in November 2024.
The property sits on a quiet cul-de-sac at 4424 NW Ridgewood Court A & B in Olympia. Schools, shopping, dining, parks, and essential services are located nearby, with access to major routes. Unit A received a new septic tank in November 2024.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 bathroom in each unit
- One‑car garage and laundry area included with each unit
- Both units are occupied on month‑to‑month arrangements
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,299
Cap Rate
5.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$505,980
$506.0K
Cap Rate 7%
$361,414
$361.4K
Cap Rate 9%
$281,100
$281.1K
Market Conditions
NOI Build-Up for 1,860 SF
Gross rent
$37.9K $20.40/SF
− Vacancy
−$1.8K −$0.97/SF
EGI
$36.1K $19.43/SF
− OpEx
−$10.8K −$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%
$505,980
Cap Rate 7%
$361,414
Cap Rate 9%
$281,100
Alternative Uses
Best Use
Multifamily LT 5
$361.4K
$316.2K – $421.7K
NOI $25,299 @ 7.0% cap · market cap 5.38%
Second Best
Apartment 5plus
$333.2K
$291.6K – $388.7K
NOI $23,324 @ 7.0% cap · market cap 4.96%
Theoretical Best
Office A
$544.6K
$476.5K – $635.4K
NOI $38,123 @ 7.0% cap · market cap 8.11%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
15
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
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units provide private living areas, galley kitchens, laundry hookups, and access to guest parking.
Where is this duplex located?
The property is located at 4424 NW Ridgewood Court A & B Olympia, WA.
What is the asking price?
The asking price for this property is $470,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 bathroom in each unit; One‑car garage and laundry area included with each unit; Both units are occupied on month‑to‑month arrangements
