210 Bethel St NE Olympia, WA 98506
Property profile & analytics
210 Bethel St NE Olympia, WA 98506
- Apartment buildings
- 18,509 SF
- 0.60 lot acres
Property ID
US90-0806111
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Apartment buildings
Property Details for 210 Bethel St NE
- Year built
- 1970
- Construction
- WOOD FRAME
- Lot size
- 0.60 lot acres
- Property size
- 18,509 SF
- Property type
- Apartment buildings
- APN
- 6650-00-02501
- APU
- 66500002501
Description
Stateside Flats, a 27-unit apartment building located at 210 Bethel St NE, Olympia, WA 98506, presents a compelling investment opportunity. This stabilized, Class B multifamily property boasts 18,088 square feet on a 26,261 square foot lot, offering a current cap rate of 6.31% and a pro-forma cap rate of 6.54%. The asking price is $5,300,000, translating to $196,296.30 per unit and $293.01 per square foot. Built in 1970 and extensively renovated in 2022 ($600,000 in improvements), the property features a new roof, updated siding, landscaping, and modernized common areas including laundry facilities. All 27 units have undergone either full or light renovations, including new flooring and cabinets, presenting potential for further value-add opportunities. The property also benefits from a resurfaced parking lot with 34 stalls, updated electrical panels, relined sewer lines, and updated in-unit plumbing as needed. Currently operating at 100% occupancy, the property generates a Net Operating Income (NOI) of $334,647, with a pro-forma NOI of $346,525. An assumable Freddie Mac loan at a 3.36% interest rate (principal and interest) is available, with two years remaining on the initial five-year term, beginning July 1, 2021. The property is zoned 13-Five Plus and is conveniently located blocks from downtown Olympia and the state capitol, providing residents easy access to transit and major roadways. This is a well-maintained property in a desirable location with significant upside potential.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $3,375,000
- ML approach
- $3,090,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $3,870,000
- 6.5%
- $3,570,000
- 7%
- $3,315,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $4,181,000
Market price range: $2.39M - $23.3M
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Olympia
- County
- Thurston
- State
- Washington
- Longitude
- -122.884
- Latitude
- 47.0472
- CBSA code
- 36500
- CBSA name
- OLYMPIA, WA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$38,792
$422,400
$3,472,300
$3,894,700
-
$422,400
$3,472,300
$3,894,700
