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Listing Firm: John L. Scott Lacey: Jake DeAtley

Bought With: Pettit Realty LLC : Cynthia Niles

SOLD On January 30, 2025
NWMLS # 2317503

$600,000

  • Sold Price
  • - Beds
  • - Baths
  • 2352 Sq.ft.

1821 Water Street SW, Olympia, WA 98501-2851

Listings with the three tree icon are courtesy of NWMLS

About This Property

This property features two rentable units: a historic main home with tons of upside potential and a fully rebuilt accessory dwelling unit (ADU) that feels like a standalone fully functional home. The main home would rent well as is but also offers a great opportunity for value-add renovations to maximize rental income and drive sweat equity. The modern ADU, rebuilt in 2002, features high-end finishes, ADA accessibility, a functional floorplan, large windows, and a recently reinforced wraparound deck. Both units can generate steady income, and the property’s prime location near Capitol Lake, downtown, and unique historic homes makes it a highly desirable location. Perfect for investors looking for strong rental demand and upside potential.

Buyer's Agent: Cynthia Niles • Pettit Realty LLC

Listed by: Jake DeAtley • John L. Scott Lacey

Aris360 Last Checked: 1 Minute Ago (Jun 06, 2025 06:51 AM)

  • Source: NWMLS as Distributed by MLS Grid #2317503

    Listing provided courtesy of Northwest Multiple Listing Service (NWMLS)

Location

  • Country: US
  • Neighborhood: Water
  • 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
    • -122.905112
  • Latitude
    • 47.031596
  • Directions
    • Please use GPS :)

  • Interior
    • Ceramic Tile
    • Hardwood
    • Laminate
    • Wall to Wall Carpet
  • Floors
    • Ceramic Tile
    • Hardwood
    • Laminate
    • Carpet
  • Power Production Type
    • Electric
    • Natural Gas

  • Stories
    • 2
  • Style
    • 52 - Duplex
  • Parking Spaces
    • 4
  • Lot Description
    • Paved,
    • Sidewalk,
  • Foundation
    • Poured Concrete,
  • Elevation
    • Feet
  • Water Source
    • Public,
  • Exterior
    • Cement Planked
    • Wood
    • Wood Products
  • Site Description
    • Cable TV,Deck,High Speed Internet,Patio,RV Parking
  • Roof
    • Composition,
  • Septic or Sewer
    • Sewer Connected,
  • Lot Size in Acres
    • 1

  • Condition
    • Good,
  • Water
    • City of Olympia
  • Building Total Area (Sq. Ft.)
    • 32422
  • Has View
    • Yes
  • Parking Description
    • RV Parking,
  • View Description
    • Lake,
    • Territorial,

  • High School District
    • Olympia
  • Jr. High School
    • Buyer To Verify
  • Elementary School
    • Buyer To Verify
  • High School
    • Buyer To Verify

  • Possession
    • Closing,
  • Property Type
    • Residential Income
  • Property SubType
    • Multi-Family
  • Tax Year
    • 2024
  • Structure Type
    • Condominium,
  • Tax Amount
    • $5852
  • Year Built
    • 1910
  • Effective Year Built
    • 1972
  • Status
    • Sold

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Disclaimer: Based on information submitted to the MLS GRID as of Fri Jun 06 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 06, 2025 06:51 AM