Listed by RE/MAX Parkside Affiliates, Bought with Better Properties NW
NOT LISTED FOR SALE

509 Old Pacific Hwy SE Olympia, WA 98513

-- Bed
-- Bath
32,950 Sq Ft
5.6 Acres

Last Sold March 14, 2022

Last sale price $5,850,000 $178 Per Sq Ft

28 Days on Market

Highlights

  • Low Bank Waterfront Property
  • RV Access or Parking
  • Deck
  • River Access
  • River View
  • No HOA

About This Home

As of March 2022

40 Apartments in 3 Buildings in Lacey close to I-5 (Exit 114) and JBLM. Located next to the Nisqually River, and close to City of Lacey/COSTCO/Schools/etc... Great upside potential. BUILDING A (1965) - 12 Units. 8/2BR, 4/1BR. New roof 2021. (Office currently not part of rent roll.). BUILDING B (1973) - 12 Units. 4/3BR, 3/2BR, 5/1BR. New roof 2020. Units 101-106, 201 newly renovated. BUILDING C (1972) - 16 Units. 8/3BR, 4/2BR, 4/1BR. New roof 2021. Unit 10 & 14 being remodeled. No recent flooding (*** 2020 water rise damage due to local power dam release error!). Plenty of parking. And extra 2 acre parcel included (#21808410000). OFFER REVIEW DATE: 2/12/2022 (Sat.) at 3:00pm sharp. No offers will be accepted before this date.

Last Agent to Sell the Property

Tom Schrader

RE/MAX Parkside Affiliates License #118109 Listed on: 01/29/2022

RE/MAX Parkside Affiliates

Co-Listed By

Justine Capra

RE/MAX Parkside Affiliates License #133048

Last Buyer's Agent

Andre Scott

Better Properties NW License #110296

Better Properties NW

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 1885047

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $33,050

Year Built

  • Built in 1965

Lot Details

  • 5.6 Acre Lot
  • Low Bank Waterfront Property
  • Waterfront
  • Partially Fenced Property
  • Property is in average condition

Property Views

  • River
  • Territorial

Home Design

  • Poured Concrete
  • Composition Roof
  • Wood Siding
  • Wood Composite

Interior Spaces

  • 32,950 Sq Ft Home
  • 2-Story Property

Flooring

  • Wall to Wall Carpet
  • Laminate
  • Vinyl

Parking

  • 75 Parking Spaces
  • Open Parking
  • RV Access or Parking

Outdoor Features

  • River Access
  • Deck

Schools

  • Evergreen Forest Ele Elementary School
  • Nisqually Mid Middle School
  • River Ridge High School

Utilities

  • Septic Tank
  • Septic System

Community Details

  • No Home Owners Association
  • Lacey Subdivision

Listing and Financial Details

  • Assessor Parcel Number 21808410300

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$33,050

Year Built

Built in 1965

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi-Family
  • StyleCode: 56 - 10+ Units
  • Year Built: 1965
  • Buyer Agency Compensation: 2.5
  • MLS Status: Sold
  • Prev Status: Closed
  • New Construction: No
  • CalculatedSquareFootage: 32950
  • EffectiveYearBuiltSource: Public Records
  • Special Features: VirtualTour

Interior Features

  • Possible Use: Multi-Family
  • Fireplace: No
  • Flooring: Laminate, Vinyl, Carpet
  • Interior Amenities: Laminate Hardwood, Wall to Wall Carpet
  • Stories: 2
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0

Exterior Features

  • Roof: Composition
  • View: River, Territorial
  • Lot Features: Paved
  • View: Yes
  • Waterfront Features: Bank-Low, River Access
  • Waterfront: Yes
  • Exterior Features: Wood, Wood Products
  • Foundation Details: Poured Concrete
  • Property Condition: Average
  • Structure Type: Multi Family

Garage/Parking

  • Carport Y N: No
  • Open Parking Spaces: 70
  • Open Parking: Yes
  • Parking Features: RV Parking
  • Total Parking Spaces: 75
  • ParkingUncoveredSpaces: 70

Utilities

  • Sewer: Septic Tank
  • Water Source: Public
  • Security: FullyFenced
  • Heating Yn: Yes
  • Utilities: Septic System, Electric
  • PowerCompany: PSE
  • SewerCompany: Private
  • WaterCompany: Lacey Water
  • WaterSewerGarbage: 1

Condo/Co-op/Association

  • Senior Community: No
  • Association: No

Fee Information

  • Annual Fuel Expense: 1

Schools

  • Junior High Dist: North Thurston
  • High School: River Ridge High
  • Middle Or Junior School: Nisqually Mid

Lot Info

  • Parcel Number: 21808410300
  • Lot Size Acres: 5.5969
  • Lot Size: Varies
  • Lot Size Sq Ft: 243801
  • Irrigation Water Rights: No
  • ResoLotSizeUnits: SquareFeet
  • ShowMapLink: true
  • SiteFeatures: Deck,Fenced-Partially,RV Parking
  • MLSLotSizeSource: GeoData
  • ZoningJurisdiction: County
  • ZoningClass: Multi-Family

Green Features

  • Power Production Type: Electric

Rental Info

  • Furnished: Unfurnished
  • GrossRentMultiplier: 1
  • LeasedItems: None
  • TotalMonthlyIncome: 1

Multi Family

  • Gross Scheduled Income: 1
  • Net Operating Income: 1
  • Number Of Units Total: 3
  • Electric Expense: 1
  • Insurance Expense: 5000
  • Leasable Area: 32950
  • EnergySource: Electric
  • UnitsInBuildingTotal: 40
  • UnitsBelowGrade: false
  • VacancyRate: 1

Tax Info

  • Year: 2021
  • Tax Annual Amount: 33050
  • AdditionalTaxIds: 21808410000,21808410300

MLS Schools

  • Elementary School: Evergreen Forest Ele

Range of Values:

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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 List to Sale Price per Sq Ft
03/14/2022 03/14/22 Sold $5,850,000 -4.9% $178 / Sq Ft
02/26/2022 02/26/22 Pending -- -- --
02/26/2022 02/26/22 For Sale $6,150,000 0.0% $187 / Sq Ft
02/16/2022 02/16/22 Pending -- -- --
01/29/2022 01/29/22 For Sale $6,150,000 -- $187 / Sq Ft
Source: Northwest Multiple Listing Service (NWMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Tom Schrader

    Seller's Agent in 2022

    Tom Schrader

    RE/MAX

    (360) 480-9387

    56 Total Sales

    Tom Schrader
    Section Image
  • Justine Capra

    Seller Co-Listing Agent in 2022

    Justine Capra

    RE/MAX

    (360) 239-4898

    28 Total Sales

    Justine Capra
    Section Image

  • A

    Buyer's Agent in 2022

    Andre Scott

    Better Properties NW

    (253) 202-1454

    82 Total Sales

    Andre Scott
    Section Image
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Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 1885047

Northwest Multiple Listing Service (NWMLS)
Washington Thurston County Olympia 98513

509 Old Pacific Hwy SE, Olympia, WA

This home is located at 509 Old Pacific Hwy SE, Olympia, WA 98513 since 29 January 2022. This property was built in 1965. 509 Old Pacific Hwy SE is a home located in Thurston County with nearby schools including Evergreen Forest Elementary School, Nisqually Middle School, and River Ridge 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) 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. 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. IDX information is provided exclusively for consumers’ personal noncommercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, that the data is deemed reliable but is not guaranteed by MLS GRID. ©2025 NWMLS.
Based on information submitted to the MLS GRID

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