Listed by Better Properties N. Proctor, Bought with Kelly Right RE of Seattle LLC
$600,000
SOLD JUN 20, 2025

1438 Fones Rd SE Unit A&B Olympia, WA 98501

-- Bed
-- Bath
2,383 Sq Ft
0.35 Acres

Recently Sold

$252 Per Sq Ft

8% Below List Price

Highlights

  • No HOA
  • Patio
  • Partially Fenced Property
  • Thermal Windows
  • Baseboard Heating
  • Wood Siding

About This Home

As of June 2025

Large Duplex with good rental income. Excellent location! Units are in great shape. With interior updates over the past few years. The city is bringing road enhancements along Fones road now. Close in location, easy freeway access, excellent stable rental income. Property is located in "opportunity zone" with tax benefits, might be an estate planning stategy. Take advantage of this unique opportunity. Owner occupied option may be available on Unit A. **Neighboring duplexes are also for sale**

Last Agent to Sell the Property

Joshua Carlson

Better Properties N. Proctor License #73962 Listed on: 01/11/2025

Better Properties N. Proctor

Last Buyer's Agent

Satish Kanchukatla

Kelly Right RE of Seattle LLC License #24035454

Kelly Right RE of Seattle LLC

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 2321579

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $5,593

Year Built

  • Built in 1955

Lot Details

  • 0.35 Acre Lot
  • Street terminates at a dead end
  • Partially Fenced Property
  • Property is in good condition

Home Design

  • Duplex
  • Brick Exterior Construction
  • Poured Concrete
  • Composition Roof
  • Wood Siding
  • Wood Composite

Interior Spaces

  • 2,383 Sq Ft Home
  • 1-Story Property
  • Thermal Windows

Flooring

  • Carpet
  • Laminate
  • Vinyl

Parking

  • 4 Parking Spaces
  • 2 Covered Spaces
  • Open Parking

Outdoor Features

  • Patio

Schools

  • Pleasant Glade Elementary School
  • Chinook Mid Middle School
  • North Thurston High School

Utilities

  • Baseboard Heating
  • Heating System Mounted To A Wall or Window

Community Details

  • No Home Owners Association
  • Olympia Subdivision

Listing and Financial Details

  • Assessor Parcel Number 11819140300

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$5,593

Year Built

Built in 1955

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi Family
  • StyleCode: 52 - Duplex
  • Year Built: 1955
  • MLS Status: Sold
  • Prev Status: Closed
  • New Construction: No
  • CalculatedSquareFootage: 2383
  • EffectiveYearBuiltSource: Public Records
  • Special Features: None

Interior Features

  • Possible Use: Multi-Family
  • Fireplace: No
  • Flooring: Laminate, Vinyl, Carpet
  • Stories: 1
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0
  • BathsFullUpper: 0
  • BathsHalfUpper: 0
  • BathsThreeQuarterUpper: 0
  • BedroomsUpper: 0
  • Amenities: Thermal Windows

Exterior Features

  • Roof: Composition
  • Lot Features: Dead End Street, Paved
  • View: No
  • Waterfront: No
  • Construction Type: Brick, Wood
  • Exterior Features: Brick, Wood, Wood Products
  • Foundation Details: Poured Concrete
  • Property Condition: Good
  • Structure Type: Duplex
  • ConstructionMethods: Standard Frame

Garage/Parking

  • Carport Y N: No
  • Covered Parking Spaces: 2
  • Open Parking Spaces: 2
  • Open Parking: Yes
  • Total Parking Spaces: 4
  • ParkingUncoveredSpaces: 2

Utilities

  • Sewer: Sewer Connected
  • Water Source: Public
  • Security: Partially Fenced
  • Cooling: None
  • Cooling Y N: No
  • Heating: Baseboard, Wall Unit(s)
  • Heating Yn: Yes
  • PowerCompany: PSE
  • SewerCompany: City of Olympia
  • WaterCompany: City of Olympia
  • WaterSewerGarbage: 2800

Condo/Co-op/Association

  • Senior Community: No
  • Association: No

Schools

  • Junior High Dist: North Thurston
  • High School: North Thurston High
  • Middle Or Junior School: Chinook Mid

Lot Info

  • Parcel Number: 11819140300
  • Lot Size Acres: 0.3505
  • Lot Size Sq Ft: 15268
  • Zoning Description: Multi-Family
  • Irrigation Water Rights: No
  • ShowMapLink: true
  • SiteFeatures: Fenced-Partially,Patio
  • MLSLotSizeSource: County
  • MLSSquareFootageSource: County

Green Features

  • Efficiency: Thermal Windows
  • Power Production Type: Electric

Rental Info

  • GrossRentMultiplier: 12.7
  • LeasedItems: None
  • TotalMonthlyIncome: 4120

Multi Family

  • Gross Scheduled Income: 49440
  • Net Operating Income: 36625
  • Number Of Units Total: 2
  • Insurance Expense: 1200
  • Leasable Area: 2383
  • EnergySource: Electric
  • UnitsInBuildingTotal: 2
  • UnitsBelowGrade: false
  • VacancyRate: 5

Tax Info

  • Year: 2024
  • Tax Annual Amount: 5593

MLS Schools

  • Elementary School: Pleasant Glade Elem

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 11, 2025
Closed on
Jun 20, 2025
Sold by
Yasmeen Mizna
Bought by
Mohammed Abdul Sajid
Seller's Agent
Joshua Carlson
Better Properties N. Proctor
Buyer's Agent
Satish Kanchukatla
Kelly Right RE of Seattle LLC
List Price
$649,900
Sold Price
$600,000
Premium/Discount to List
-$49,900
-7.68%
Views
133
Current Estimated Value
$612,996

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$12,996
Avg. Annual Appreciation
7.40%
Original Mortgage
$450,000
Interest Rate
6.76%
Mortgage Type
New Conventional

Purchase Details

Listed on
Jan 11, 2025
Closed on
May 3, 2025
Sold by
Harvard Apartment Investments Llc
Bought by
Mohammed Abdul Sajid
Seller's Agent
Joshua Carlson
Better Properties N. Proctor
Buyer's Agent
Satish Kanchukatla
Kelly Right RE of Seattle LLC
List Price
$649,900
Sold Price
$600,000
Premium/Discount to List
-$49,900
-7.68%
Views
133

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$450,000
Interest Rate
6.76%
Mortgage Type
New Conventional

Purchase Details

Closed on
Aug 10, 2022
Sold by
Harvard Apartments Llc
Bought by
City Of Olympia

Purchase Details

Closed on
Nov 28, 2018
Sold by
Holert Donald C and Holert Donald Carl
Bought by
Delphi Pines Llc

Purchase Details

Closed on
Apr 21, 1998
Sold by
Holert Nancy L
Bought by
Holert Donald Carl
Source: Public Records

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

Purchase History

Date Type Sale Price Title Company
Quit Claim Deed -- Wfg National Title
Warranty Deed $600,000 Wfg National Title
Warranty Deed -- --
Warranty Deed $1,200,000 Stewart Title Co
Interfamily Deed Transfer -- --
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Previous Owner $450,000 New Conventional
Closed $0 Commercial
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
06/20/2025 06/20/25 Sold $600,000 -7.7% $252 / Sq Ft
05/05/2025 05/05/25 Pending -- -- --
01/11/2025 01/11/25 For Sale $649,900 -- $273 / Sq Ft
Source: Northwest Multiple Listing Service (NWMLS)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $5,593 $622,300 $271,600 $350,700
2023 $5,593 $579,600 $207,100 $372,500
2022 $5,743 $550,500 $222,100 $328,400
2021 $5,372 $476,200 $207,100 $269,100
2020 $5,049 $416,500 $109,200 $307,300
2019 $3,861 $401,800 $180,900 $220,900
2018 $4,062 $292,500 $104,600 $187,900
2017 $3,368 $262,500 $98,400 $164,100
2016 $2,440 $222,850 $77,250 $145,600
2014 -- $192,150 $81,550 $110,600
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 2321579

Northwest Multiple Listing Service (NWMLS)

APN: 11819140300