NOT LISTED FOR SALE

4022 52nd Ave SW Olympia, WA 98512

-- Bed
-- Bath
3,464 Sq Ft
0.76 Acres

Last Sold September 15, 2022

Last sale price $870,000 $251 Per Sq Ft

72 Days on Market

Highlights

  • Territorial View
  • No HOA
  • Open Space
  • Black Lake Elementary School Rated A-
  • Patio
  • Partially Fenced Property

About This Home

As of September 2022

Great cash flowing investment opportunity with upside potential. Located near Black Lake this property sits on a quiet street, yet is minutes to Tumwater and West Olympia. All 5 unit have been well maintained and professionally managed for many years. Large .75+/- acre property with individual patios and plenty of both front and back yard space. Ample parking and great privacy for all units. Nice open floor plans for both the home and four plex units. Updated windows and roofing on both buildings. Currently a 5.9% cap rate with a pro forma cap rate of 7.7% based on market rents. Come take advantage of this great investment opportunity.

Last Agent to Sell the Property

John Stormans

Olympic Sotheby's Int'l Realty License #130340 Listed on: 06/21/2022

Olympic Sotheby's Int'l Realty

Last Buyer's Agent

Mace Erickson

Skyline Properties, Inc. License #24105

Skyline Properties, Inc.

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 1955386

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $6,340

Year Built

  • Built in 1952

Lot Details

  • 0.76 Acre Lot
  • Open Space
  • Partially Fenced Property

Home Design

  • Block Foundation
  • Composition Roof
  • Wood Siding

Interior Spaces

  • 3,464 Sq Ft Home
  • 1-Story Property
  • Territorial Views

Flooring

  • Wall to Wall Carpet
  • Vinyl

Parking

  • 7 Parking Spaces
  • 1 Covered Space
  • Open Parking

Outdoor Features

  • Patio

Utilities

  • Well
  • Septic Tank
  • Septic System
  • Cable TV Available

Community Details

  • No Home Owners Association
  • Black Lake Subdivision

Listing and Financial Details

  • Assessor Parcel Number 12832320202

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$6,340

Year Built

Built in 1952

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi-Family
  • StyleCode: 55 - 5-9 Units
  • Year Built: 1952
  • Buyer Agency Compensation: 2.5
  • MLS Status: Sold
  • Prev Status: Closed
  • New Construction: No
  • CalculatedSquareFootage: 3464
  • EffectiveYearBuiltSource: Public Records
  • Special Features: None
  • Cumulative Days on Market: 353

Interior Features

  • Fireplace: No
  • Flooring: Vinyl, Carpet
  • Interior Amenities: Forced Air, Wall to Wall Carpet
  • Stories: 1
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0

Exterior Features

  • Roof: Composition
  • View: Territorial
  • Lot Features: Open Space, Paved
  • View: Yes
  • Waterfront: No
  • Exterior Features: Cement/Concrete, Wood
  • Foundation Details: Block
  • Structure Type: Multi Family

Garage/Parking

  • Carport Y N: No
  • Covered Parking Spaces: 1
  • Open Parking Spaces: 6
  • Open Parking: Yes
  • Total Parking Spaces: 7
  • ParkingUncoveredSpaces: 6

Utilities

  • Sewer: Septic Tank
  • Water Source: Individual Well
  • Security: FullyFenced
  • Heating Yn: Yes
  • Utilities: Cable Connected, Septic System, Electric, Individual Well
  • PowerCompany: PSE
  • SewerCompany: Septic
  • WaterCompany: Well
  • WaterSewerGarbage: 0

Condo/Co-op/Association

  • Senior Community: No
  • Association: No

Schools

  • Junior High Dist: Tumwater

Lot Info

  • Parcel Number: 12832320202
  • Lot Size Acres: 0.7593
  • Lot Size Sq Ft: 33075
  • Irrigation Water Rights: No
  • ResoLotSizeUnits: SquareFeet
  • ShowMapLink: true
  • SiteFeatures: Cable TV,Fenced-Partially,Patio
  • MLSLotSizeSource: County

Green Features

  • Power Production Type: Electric

Rental Info

  • Furnished: Unfurnished
  • GrossRentMultiplier: 0
  • LeasedItems: None
  • TotalMonthlyIncome: 5390

Multi Family

  • Gross Scheduled Income: 64680
  • Net Operating Income: 55840
  • Number Of Units Total: 5
  • Insurance Expense: 2500
  • Leasable Area: 3464
  • EnergySource: Electric
  • UnitsInBuildingTotal: 5
  • UnitsBelowGrade: false
  • VacancyRate: 0

Tax Info

  • Year: 2022
  • Tax Annual Amount: 6340

Range of Values:

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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
09/15/2022 09/15/22 Sold $870,000 -3.3% $251 / Sq Ft
09/01/2022 09/01/22 Pending -- -- --
08/30/2022 08/30/22 Price Changed $899,900 -5.2% $260 / Sq Ft
06/21/2022 06/21/22 For Sale $949,000 -- $274 / Sq Ft
Source: Northwest Multiple Listing Service (NWMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • John Stormans

    Seller's Agent in 2022

    John Stormans

    Olympic Sotheby's Int'l Realty

    (360) 915-2071

    137 Total Sales

    John Stormans
    Section Image
  • Mace Erickson

    Buyer's Agent in 2022

    Mace Erickson

    Skyline Properties, Inc

    16 Total Sales

    Mace Erickson
    Section Image
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Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 1955386

Northwest Multiple Listing Service (NWMLS)

Washington Thurston County Olympia 98512

4022 52nd Ave SW, Olympia, WA

This home is located at 4022 52nd Ave SW, Olympia, WA 98512 since 21 June 2022. This property was built in 1952. 4022 52nd Ave SW is a home located in Thurston County with nearby schools including Black Lake Elementary School, Tumwater Middle School, and A.G. West Black Hills 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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