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
Add a destination (work, gym, school) for directions and drive time.
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?
Mark features you love or could do without. Saved on this device to tune what you see.
- One
- Driveway
- House
- Composition
- Baseboard
- Forced Air
- Electric
- Natural Gas
- Dining Room
- Water Heater
- Cash
- Conventional
Listing history
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

$249,900
5728 Duane Lane NW
Olympia, WA
$332,500
1546 Reservation Road SE #62
Olympia, WA
$415,000
920 East Bay Drive NE #2D-101
Olympia, WA

$399,000
5305 Waldrick Rd SE
Olympia, WA

$300,000
1546 SE Reservation Rd #218
Olympia, WA

$280,000
1546 Reservation Road SE #198
Olympia, WA
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.