Equestrian Property with Two
For Sale
$599,000
9601 El Camino Ln SE, Yelm, WA 98597
Two residences accompany barns, pasture improvements, storage structures, and facilities for horses and rural property operations.
Property Size2,049 SF
Price / SF$292.34
Days on Market58
Property Features for 9601 El Camino Ln SE
General Information
Standard status
Active
Size
2,049 SF
Property subtype
Multi-Family
Building Details
Year Built
1983
Listing Agency:
Yelm Windermere
Listed By:
Holly A. Kappert · License #27943
(360) 458-3855
Source:
Katrinahalterman
Added: Aug 19
Changed: Oct 7
Last Checked: Oct 7 at 1:36PM
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 Yelm Windermere
Investment Insights
Based on property information with market context.
This equestrian property includes two separate homes, including a light-filled bungalow and a two-story log-and-cobblestone cabin with a loft and two fireplaces. The bungalow features a 655-square-foot wraparound deck, while the cabin provides 1,125 square feet of rustic living space. Both residences are supported by extensive equestrian and utility improvements.
Two barns provide eight stalls along with storage for feed, shavings, and tack. The fenced and cross-fenced pastures contain established grass, and additional structures include a cedar bunkhouse, raised-bed garden, ornamental and fruit trees, and an approximately 273-square-foot underground root cellar. An 864-square-foot metal machine shop accommodates an RV, tractor, horse trailer, and vehicles, with a 40-foot premium container adding storage capacity.
The property is located one mile from Yelm on a dead-end lane and offers the flexibility to occupy one home while using the second for guests, rental, or other supported residential purposes.
Two barns provide eight stalls along with storage for feed, shavings, and tack. The fenced and cross-fenced pastures contain established grass, and additional structures include a cedar bunkhouse, raised-bed garden, ornamental and fruit trees, and an approximately 273-square-foot underground root cellar. An 864-square-foot metal machine shop accommodates an RV, tractor, horse trailer, and vehicles, with a 40-foot premium container adding storage capacity.
The property is located one mile from Yelm on a dead-end lane and offers the flexibility to occupy one home while using the second for guests, rental, or other supported residential purposes.
Key Highlights
- Two separate homes, including a bungalow and a 1,125‑square‑foot two‑story log‑and‑cobblestone cabin
- Eight horse stalls across two barns with feed, shavings, and tack storage
- 655‑square‑foot wraparound deck serving the bungalow
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,694
Cap Rate
4.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$513,880
$513.9K
Cap Rate 7%
$367,057
$367.1K
Cap Rate 9%
$285,489
$285.5K
Market Conditions
NOI Build-Up for 2,049 SF
Gross rent
$49.2K $24.00/SF
− Vacancy
−$2.5K −$1.20/SF
EGI
$46.7K $22.80/SF
− OpEx
−$21.0K −$10.26/SF
NOI
$25.7K $12.54/SF
Area
Thurston County, WA
Vacancy
5.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$513,880
Cap Rate 7%
$367,057
Cap Rate 9%
$285,489
Alternative Uses
Best Use
Apartment 5plus
$367.1K
$321.2K – $428.2K
NOI $25,694 @ 7.0% cap · market cap 4.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$599.9K
$525.0K – $699.9K
NOI $41,996 @ 7.0% cap · market cap 7.01%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1
Businesses Nearby
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Business Placement
Demographics for 98597, WA
27,233
Population
10,108
Households
2.7
Avg Household Size
35
Median Age
23%
College-Educated
91%
High-School Grad
111.0 sq mi
ZIP Area
245
Density / Sq Mi
$92,120
Median Household Income
$50,829
Median Earnings
$1,441
Median Rent
$423,200
Median Home Value
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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?
Horse & equestrian property - Two residences accompany barns, pasture improvements, storage structures, and facilities for horses and rural property operations.
Where is this horse & equestrian property located?
The property is located at 9601 El Camino Ln SE Yelm, WA.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Two separate homes, including a bungalow and a 1,125‑square‑foot two‑story log‑and‑cobblestone cabin; Eight horse stalls across two barns with feed, shavings, and tack storage; 655‑square‑foot wraparound deck serving the bungalow
