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Listing Firm: Urban Commercial Partners, LLC: Pat Suarez

Bought With: Greene Realty Group LLC : John Stormans

SOLD On March 31, 2022
NWMLS # 1871628

$1,675,000

  • Sold Price
  • - Beds
  • - Baths
  • - Sq.ft.

1017 Capitol Way S, Olympia, WA 98501

Listings with the three tree icon are courtesy of NWMLS

About This Property

The Gibbons House is a meticulously maintained asset in Downtown Olympia, just 1.5 blocks from the Capital Campus. Gibbons House consists of 19 residential units total. 11 units are studios which share secure, clean common bathrooms. 5 units are self sufficient studios. There are (2) 1 bed/1 bath units and (1) 2 bed/1 bath units. Historic occupancy has been 99%, as residents enjoy living in the heart of Downtown Olympia in a clean, safe and welcoming environment. 6.0% Cap Rate based on actual income/expenses with Upside Potential. Part of 53-Unit Portfolio including Olympia Court & Anderson House (MLS #1871663).

Buyer's Agent: John Stormans • Greene Realty Group LLC

Listed by: Pat Suarez • Urban Commercial Partners, LLC

Aris360 Last Checked: 6 Minutes Ago (Jun 04, 2025 06:23 PM)

  • Source: NWMLS as Distributed by MLS Grid #1871628

    Listing provided courtesy of Northwest Multiple Listing Service (NWMLS)

Location

  • Country: US
  • Neighborhood: Capitol
  • Zip/Postal Code: 98501
  • City: Olympia

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$3,847 per month
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Property Features

  • County
    • Capital Campus
  • Community
    • 447 - Olympia North
  • MLS Area
    • 447 - Olympia North
  • Longitude
    • -122.901257
  • Latitude
    • 47.039263
  • Directions
    • From State Capital Campus, head south on Capitol Way South. Property on your left.

  • Power Production Type
    • Electric
  • Furnished
    • Unfurnished

  • Stories
    • 2
  • Style
    • 56 - 10+ Units
  • Foundation
    • Poured Concrete,
  • Elevation
    • Feet
  • Exterior
    • Wood
  • Roof
    • Composition,
  • Septic or Sewer
    • Available,
  • Building Total Area (Sq. Ft.)
    • 7200
  • Utilities
    • Electric,

  • High School District
    • Olympia

  • Possession
    • Closing,
  • Property Type
    • Residential Income
  • Property SubType
    • Multi-Family
  • Tax Year
    • 2021
  • Structure Type
    • Multi Family,
  • Tax Amount
    • $13838
  • Year Built
    • 1918
  • Effective Year Built
    • 1918
  • Status
    • Sold

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Disclaimer: Based on information submitted to the MLS GRID as of Wed Jun 04 2025 . 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.

Jun 04, 2025 06:23 PM