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1954 Division Street NW
Olympia, WA 98502
Aug 2026 SOLD
$480,000
$303 / Sqft
1,608
Sqft
0.25
Acres
1925
Yr. Built
MLS# 2554345
Sold Date: 2026-08-24

Property Description

Turnkey rental income with immediate cash flow: Well maintained Olympia duplex offering an opportunity for investors, owner-occupants or multi-generational living. Conveniently located near Capital Mall, Evergreen State College, schools, grocery stores, restaurants, medical services, and major commuter routes. Bus stop located nearby for easy transit access. Situated on a 0.25-acre corner lot, each unit enjoys private living spaces, classic charm, separate fenced yard areas, lots of dedicated parking, washer and dryer, and outdoor space for gardening, pets, or recreation. Unit A features 2 bedrooms and 1 bathroom, while Unit B offers 1 bedroom plus bonus room / office, high ceilings and 1 bathroom, creating flexibility for a variety of tenants or owner-occupant needs. Floorplan available in photos. Fresh landscaping and ongoing owner maintenance have kept these units hassle-free. Positioned in Olympia's westside with convenient access to downtown Olympia, Highway 101, I-5 connections, military base JBLM, parks, shopping, and employment centers. This area has consistent rental demand due to nearby colleges, government employment, healthcare facilities, and regional employers. Add this well-located duplex to your investment portfolio or offset housing costs by occupying one unit while generating rental income from the other. Buyer to verify all.

Listing Broker: Paramount Real Estate Group; Jesse Savage Buyer's Broker: Virgil Adams Real Estate, Inc.

Property Highlights

Sold Price
480000
Property Type
Residential Income
Property Sub Type
Multi Family
Acres
0.25
Year Built
1925
Condition
Good
Days Active
18

Location

Area
444 - Olympia Westside
City/Township
Olympia
View
Territorial
Subdivision
Olympia
County
Thurston
Zoning Description
Residential

Property Details

Price
$487,777
Sold Price
480000
Condition
Good
Property Type
Residential Income
Property Sub Type
Multi Family

Building

Structure Type
Duplex
Stories
1
Total Area
1,608 Sqft

Community

Local Schools

Elementary School
Leland P Brown Elem
Middle School
Jefferson Mid
High School
Capital High
School District
Olympia

Interior Features

Area and Spaces

Number of Units
2

Interior Features

Flooring
Ceramic Tile, Laminate, Vinyl, Carpet
Security Features
Fully Fenced

Heating and Cooling

Heating Features
Stove/Free Standing, Wall Furnace

Building Details

Construction

Year Built
1925
Foundations
Poured Concrete

Materials

Construction Materials
Wood
Roof
Composition

Terms

Commercial

Cap Rate
5.20

Terms

Special Conditions
None
Special Terms
Cash, Conventional, FHA, State Bond, VA Loan
Days Active
18

Taxes

Tax

Tax (Annual)
$4,792

Heating, Cooling & Utilities

Cooling Features
None

Utilities

Sewer
Sewer Connected

Green Energy

Energy Efficiency Features
Thermal Windows

Utilities

Water Source
Public

Green Energy

Power Production Type
Natural Gas

Lot

Acres
0.25
Lot Size Area Sq Ft
10,797
Lot Features
Corner Lot, Paved

Exterior Features

Exterior Features
Wood Products

Parking

Total Parking Spaces
6
Listing Data last updated 10/16/2026 05:00 am
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Property History

3 days ago
Property information last updated
53 days ago
Date Sold

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