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JRJeff ReynoldsCompass · Seattle
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Active

Listed by Ken Crotts, eXp Realty

2
Bedrooms
1
Bathrooms
1,056
Square feet
$308
Per sq ft
Single Family Residence
Type
1940
Year built
21,454 sq ft
Lot
0
Days on market

About this property

Exceptional Investment & Development Opportunity! Situated on a prime shy half-acre parcel in a high-density zoning area, this property offers outstanding potential for investors, developers, or those seeking long-term appreciation. Ideally located along Fones Road, the property is positioned to benefit from significant infrastructure improvements currently underway, including newly constructed streets and upgraded utilities, further enhancing its future value and development potential. The existing 2-bedroom, 1-bath home is undergoing a complete renovation with quality finishes throughout, creating an attractive, move-in-ready residence or income-producing rental. Renovations include an open-concept floor plan, stylish high-end finishes, and durable luxury vinyl plank flooring throughout. Whether you're looking to generate immediate rental income while planning future development or secure a property in a rapidly improving corridor, this is a rare opportunity to capitalize on both current cash flow and future multifamily development potential.

Location & commute

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Directions

Property details

Listing details

Listing number
#2553249
Listed
July 15, 2026
Days on market
0
Price per sq ft
$308

Unit & building

Unit levels
One

Parking

Parking
Driveway

Construction

Year built
1940
Style
10 - 1 Story
Structure
House
Roof
Composition

Heating & cooling

Heating
BaseboardForced Air
Cooling
Forced Air
Energy source
ElectricNatural Gas

Interior features

Features
Dining RoomWater Heater

Lot

Lot size
21,454 sq ft

Terms

Terms offered
CashConventional

Utilities

Water
City of Olympia
Sewer
Septic
Power
PSE

Schools

District
North Thurston
Elementary
Mountain View Elementary
Middle
Chinook Mid
High
North Thurston High

What stands out to you?

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  • One
  • Driveway
  • House
  • Composition
  • Baseboard
  • Forced Air
  • Electric
  • Natural Gas
  • Dining Room
  • Water Heater
  • Cash
  • Conventional

Listing history

  1. Listed

    $325,000

    July 15, 2026

Derived from current MLS listing fields. Full multi-cycle status history is on the roadmap.

Payment estimate

An estimate to help you plan, not a loan offer or financial advice.

Est. monthly

$1,892

Principal & interest
$1,643
Property tax (est.)
$249

Assumes $65,000 down (20%), a $260,000 loan at 6.5% over 30 years. Property tax is an estimated figure, not MLS data (verify with the county assessor). Excludes insurance, PMI, and closing costs. Not a commitment to lend or financial advice.

Similar nearby listings

Based on information submitted to the MLS GRID as of July 15, 2026 at 5:15 PM PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.