Duplex with Attached Dwelling
New
For Sale
$649,950
4502 Ridgewood Ct NW, Olympia, WA 98502
Two residences offer five bedrooms combined, island kitchens, and separate living spaces on an oversized lot.
Property Size2,231 SF
Price / SF$291.33
Days on Market6
Property Features for 4502 Ridgewood Ct NW
General Information
Standard status
Active
Size
2,231 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
2026
Buildings
1
Listing Agency:
Blue Summit Realty LLC
Listed By:
Brian J Dermanoski
(360) 280-1980
Source:
Eastsideseattleproperties
Added: Oct 10
Changed: Oct 15
Last Checked: Oct 15 at 2:15AM
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 Blue Summit Realty LLC
Investment Insights
Based on property information with market context.
This 2026-built duplex pairs a three-bedroom main home with a one-story, two-bedroom additional dwelling unit. The main residence has 2.25 bathrooms, while the second unit has one full bath. Together, the homes provide 2,231 square feet and five bedrooms; the septic system is sized for four bedrooms.
Both kitchens include islands, quartz counters, and stainless steel appliances, including refrigerators. LVP flooring, high-efficiency heat pumps, energy packages, and efficient lighting are featured in each residence. The property also provides substantial parking and room for a shop.
Both kitchens include islands, quartz counters, and stainless steel appliances, including refrigerators. LVP flooring, high-efficiency heat pumps, energy packages, and efficient lighting are featured in each residence. The property also provides substantial parking and room for a shop.
Key Highlights
- 2,231 square feet across two residences
- Main home: 3 bedrooms and 2.25 bathrooms
- Attached one‑story dwelling unit with 2 bedrooms and 1 full bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,345
Cap Rate
4.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$606,900
$606.9K
Cap Rate 7%
$433,500
$433.5K
Cap Rate 9%
$337,167
$337.2K
Market Conditions
NOI Build-Up for 2,231 SF
Gross rent
$45.5K $20.40/SF
− Vacancy
−$2.2K −$0.97/SF
EGI
$43.4K $19.43/SF
− OpEx
−$13.0K −$5.83/SF
NOI
$30.3K $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%
$606,900
Cap Rate 7%
$433,500
Cap Rate 9%
$337,167
Alternative Uses
Best Use
Multifamily LT 5
$433.5K
$379.3K – $505.8K
NOI $30,345 @ 7.0% cap · market cap 4.67%
Second Best
Apartment 5plus
$399.7K
$349.7K – $466.3K
NOI $27,977 @ 7.0% cap · market cap 4.30%
Theoretical Best
Office A
$653.2K
$571.6K – $762.1K
NOI $45,727 @ 7.0% cap · market cap 7.04%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
16
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 residences offer five bedrooms combined, island kitchens, and separate living spaces on an oversized lot.
Where is this duplex located?
The property is located at 4502 Ridgewood Ct NW Olympia, WA.
What is the asking price?
The asking price for this property is $649,950.
What are key features of this property?
This property features: 2,231 square feet across two residences; Main home: 3 bedrooms and 2.25 bathrooms; Attached one‑story dwelling unit with 2 bedrooms and 1 full bath
