NOT LISTED FOR SALE

1017 Capitol Way S Olympia, WA 98501

Downtown Olympia Neighborhood
-- Bed
-- Bath
-- Sq Ft
7,200 Sq Ft Lot

Last Sold March 31, 2022

Last sale price $1,675,000

14 Days on Market

Highlights

  • No HOA
  • Wood Siding
  • 3-minute walk to WWII Memorial
  • Lincoln Elementary School Rated A-

About This Home

As of March 2022

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).

Last Agent to Sell the Property

Pat Suarez

Urban Commercial Partners, LLC License #17191 Listed on: 12/10/2021

Last Buyer's Agent

John Stormans

Olympic Sotheby's Int'l Realty License #130340

Olympic Sotheby's Int'l Realty

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 1871628

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $13,838

Year Built

  • Built in 1918

Lot Details

  • 7,200

Home Design

  • Poured Concrete
  • Composition Roof
  • Wood Siding

Additional Features

  • 2-Story Property
  • 7,200 Sq Ft Lot

Community Details

  • No Home Owners Association
  • Capital Campus Subdivision

Listing and Financial Details

  • Assessor Parcel Number 78506600600

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$13,838

Year Built

Built in 1918

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi-Family
  • StyleCode: 56 - 10+ Units
  • Year Built: 1918
  • Buyer Agency Compensation: 2.5%
  • MLS Status: Sold
  • Prev Status: Closed
  • New Construction: No
  • CalculatedSquareFootage: 0
  • EffectiveYearBuiltSource: Public Records
  • Special Features: None
  • Cumulative Days on Market: 282

Interior Features

  • Fireplace: No
  • Stories: 2
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0

Exterior Features

  • Roof: Composition
  • View: No
  • Waterfront: No
  • Exterior Features: Wood
  • Foundation Details: Poured Concrete
  • Structure Type: Multi Family

Garage/Parking

  • Carport Y N: No
  • Open Parking: No
  • ParkingUncoveredSpaces: 0

Utilities

  • Sewer: Available
  • Heating Yn: Yes
  • Utilities: Electric
  • WaterSewerGarbage: 21000

Condo/Co-op/Association

  • Senior Community: No
  • Association: No

Schools

  • Junior High Dist: Olympia

Lot Info

  • Parcel Number: 78506600600
  • Lot Size Acres: 0.1653
  • Lot Size Sq Ft: 7200
  • Irrigation Water Rights: No
  • ResoLotSizeUnits: SquareFeet
  • ShowMapLink: true
  • MLSLotSizeSource: County

Green Features

  • Power Production Type: Electric

Rental Info

  • Furnished: Unfurnished
  • GrossRentMultiplier: 9.14
  • LeasedItems: None
  • TotalMonthlyIncome: 15265

Multi Family

  • Gross Scheduled Income: 183180
  • Net Operating Income: 100330
  • Number Of Units Total: 3
  • Insurance Expense: 6002
  • Leasable Area: 9447
  • EnergySource: Electric
  • UnitsInBuildingTotal: 19
  • UnitsBelowGrade: false
  • VacancyRate: 5

Tax Info

  • Year: 2021
  • Tax Annual Amount: 13838

Range of Values:

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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
03/31/2022 03/31/22 Sold $1,675,000 0.0% --
12/24/2021 12/24/21 Pending -- -- --
12/10/2021 12/10/21 For Sale $1,675,000 -- --
Source: Northwest Multiple Listing Service (NWMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Pat Suarez

    Seller's Agent in 2022

    Pat Suarez

    Urban Commercial Partners, LLC

    (206) 226-6200

    1 in this area

    17 Total Sales

    Pat Suarez
    Section Image
  • John Stormans

    Buyer's Agent in 2022

    John Stormans

    Olympic Sotheby's Int'l Realty

    (360) 915-2071

    1 in this area

    136 Total Sales

    John Stormans
    Section Image
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Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 1871628

Northwest Multiple Listing Service (NWMLS)

Washington Thurston County Olympia 98501 Downtown Olympia

1017 Capitol Way S, Olympia, WA

This home is located at 1017 Capitol Way S, Olympia, WA 98501 since 10 December 2021. This property was built in 1918. 1017 Capitol Way S is a home located in Thurston County with nearby schools including Lincoln Elementary School, Washington Middle School, and Avanti High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Northwest Multiple Listing Service (NWMLS) Listing information is provided by the Northwest Multiple Listing Service (NWMLS). Property information is based on available data that may include MLS information, county records, and other sources. Listings marked with the 3 tree icon and provided by NWMLS. All properties are subject to prior sale or withdrawal. ©2025 NWMLS.

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