806-808 Adams StOlympia, WA 98501

For Sale
$650,000

Five-unit multifamily, high upside potential.

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional 5-unit multifamily property presents a compelling value-add opportunity in the heart of downtown Olympia, Washington. Located at 806-808 Adams St SE, 98501, this property boasts a total of 2,649 square feet on a 6,000 square foot lot (APN 68700000300). The building, constructed in 1936 and renovated in 1993, comprises two buildings with one story each, and is zoned UR. The property features five units: two spacious one-bedroom units (approximately 620 sq ft each), two smaller one-bedroom units (approximately 300 sq ft each), and one studio unit (approximately 200 sq ft). Current Net Operating Income (NOI) is $22,791, yielding a 3.51% cap rate

Highlights

  • Exceptional value-add opportunity.
  • Desirable garden-style apartment complex.
  • Prime downtown Olympia location, offering convenient access to shopping, the waterfront, and public transit.

Property Details for 806-808 Adams St

Property type
Multifamily properties, Apartment buildings
Square Feet
2,649 SF
Year Built/Renovated
1936/1993
Buildings
2
Stories
1
Units
5

Location Insight

City
Olympia
County
Thurston
State
Washington
Latitude
47.0415348
Longitude
-122.8970687
806-808 Adams St, Olympia, Washington

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806-808 Adams St
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