Duplex with
For Sale
$465,000
921-923 Central Street Northeast, Olympia, WA 98506
Each residence includes a fireplace, while separate carports and a fenced yard serve the property.
Property Size1,620 SF
Price / SF$287.04
Days on Market43
Property Features for 921-923 Central Street Northeast
General Information
Standard status
Active
Size
1,620 SF
Total Parking Spaces
2
Property subtype
Residential Income
Net Operating Income
$20,398
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,162
Amenities
fireplace
fenced yard
0, 0, 0, 0
No
No, None
Yes, Baseboard
Vinyl, Carpet
Composition
Wood
Fully Fenced
Building Details
Year Built
1976
Listing Agency:
Olympic Sotheby's Int'l Realty
Listed By:
Denise Steigers · License #115412
(360) 451-3549
Source:
Compass
Added: Sep 25
Changed: Nov 5
Last Checked: Nov 4 at 2:34PM
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 Olympic Sotheby's Int'l Realty
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.
Built in 1976, this Olympia duplex contains two residences, each with two bedrooms, one bathroom, and a fireplace. Baseboard heating and vinyl and carpet flooring are noted. A carport serves each unit, and the yard is fully fenced.
The property is located on Central Street Northeast, minutes from downtown Olympia.
The property is located on Central Street Northeast, minutes from downtown Olympia.
Key Highlights
- Two units, each with 2 bedrooms, 1 bathroom, and a fireplace
- Separate carport for each residence
- Fully fenced yard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,035
Cap Rate
4.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$440,700
$440.7K
Cap Rate 7%
$314,786
$314.8K
Cap Rate 9%
$244,833
$244.8K
Market Conditions
NOI Build-Up for 1,620 SF
Gross rent
$33.0K $20.40/SF
− Vacancy
−$1.6K −$0.97/SF
EGI
$31.5K $19.43/SF
− OpEx
−$9.4K −$5.83/SF
NOI
$22.0K $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%
$440,700
Cap Rate 7%
$314,786
Cap Rate 9%
$244,833
Alternative Uses
Best Use
Multifamily LT 5
$314.8K
$275.4K – $367.3K
NOI $22,035 @ 7.0% cap · market cap 4.74%
Second Best
Apartment 5plus
$290.2K
$253.9K – $338.6K
NOI $20,315 @ 7.0% cap · market cap 4.37%
Theoretical Best
Office A
$474.3K
$415.1K – $553.4K
NOI $33,204 @ 7.0% cap · market cap 7.14%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,146
Businesses Nearby
Explore this area
Business Placement
Demographics for 98506, WA
19,198
Population
9,041
Households
2.1
Avg Household Size
44
Median Age
51%
College-Educated
96%
High-School Grad
22.4 sq mi
ZIP Area
857
Density / Sq Mi
$93,968
Median Household Income
$50,388
Median Earnings
$1,431
Median Rent
$469,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence includes a fireplace, while separate carports and a fenced yard serve the property.
Where is this duplex located?
The property is located at 921-923 Central Street Northeast Olympia, WA.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: Two units, each with 2 bedrooms, 1 bathroom, and a fireplace; Separate carport for each residence; Fully fenced yard
