Listed by Solution Partners NW, Bought with eXp Realty
NOT LISTED FOR SALE

8631 Steilacoom Rd SE Unit A & B Olympia, WA 98513

Meadows Neighborhood

Estimated Value: $688,000 - $750,000

6 Beds
4 Baths
2,468 Sq Ft
$288/Sq Ft Est. Value

Last Sold February 24, 2020

Last sale price $455,000 $184 Per Sq Ft

Est. 56% increase in value since last sale

Current estimated payment $4,212/month

7 Days on Market

Highlights

  • Cul-De-Sac
  • Partially Fenced Property
  • 1-Story Property
  • Patio
  • Wall to Wall Carpet

About This Home

As of February 2020

RARE FIND with 7% CAP RATE! Fantastic Cul-De-Sac Duplex in Olympia backs up to RAC w/soccer fields, walking trails & parks! Built in 1997, each unit is 3 bed, 2 bath, 1234 sq ft and includes a 1 car garage with plenty of parking in the front! Offering features like cathedral ceilings, skylights, an open floor plan, spacious dining & living room w/cozy fireplaces, both units have their own W/D, side yards and partially fenced backyards! Close to shoppping and schools! Tenants pay all utilities.

Last Agent to Sell the Property

Jane Snyder

Solution Partners NW License #95776 Listed on: 01/21/2020

Solution Partners NW

Last Buyer's Agent

Sung Han

eXp Realty License #81847

eXp Realty

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 1556596

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $3,599

Year Built

  • Built in 1997

Lot Details

  • 0.33 Acre Lot
  • Cul-De-Sac
  • Partially Fenced Property

Home Design

  • Duplex
  • Poured Concrete
  • Composition Roof
  • Wood Composite

Interior Spaces

  • 2,468 Sq Ft Home
  • 1-Story Property

Flooring

  • Wall to Wall Carpet
  • Vinyl

Parking

  • 6 Parking Spaces
  • 2 Covered Spaces
  • Open Parking

Additional Features

  • Patio
  • Cable TV Available

Community Details

  • Lacey Subdivision

Listing and Financial Details

  • Assessor Parcel Number 11813241008

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$3,599

Year Built

Built in 1997

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi-Family
  • StyleCode: 52 - Duplex
  • Year Built: 1997
  • Buyer Agency Compensation: 3
  • MLS Status: Sold
  • Prev Status: Closed
  • New Construction: No
  • CalculatedSquareFootage: 2468
  • Special Features: None

Interior Features

  • Possible Use: Multi-Family
  • Fireplace: No
  • Flooring: Vinyl, Carpet
  • Interior Amenities: Wall to Wall Carpet
  • Stories: 1
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0

Exterior Features

  • Roof: Composition
  • Lot Features: Cul-De-Sac, Paved
  • View: No
  • Waterfront: No
  • Exterior Features: Wood Products
  • Foundation Details: Poured Concrete
  • Structure Type: Duplex

Garage/Parking

  • Carport Y N: No
  • Covered Parking Spaces: 2
  • Open Parking Spaces: 4
  • Open Parking: Yes
  • Total Parking Spaces: 6
  • ParkingUncoveredSpaces: 4

Utilities

  • Sewer: Sewer Connected
  • Water Source: Public
  • Security: FullyFenced
  • Heating Yn: Yes
  • Utilities: Cable Connected, Sewer Connected, Electric, Wood
  • PowerCompany: PSE
  • SewerCompany: City of Lacey
  • WaterCompany: City of Lacey
  • WaterSewerGarbage: 0

Condo/Co-op/Association

  • Association Fee Frequency: Annually

Schools

  • Junior High Dist: North Thurston

Lot Info

  • Parcel Number: 11813241008
  • Lot Size Acres: 0.33
  • Lot Size Sq Ft: 14375
  • Irrigation Water Rights: No
  • ResoLotSizeUnits: SquareFeet
  • ShowMapLink: true
  • SiteFeatures: Cable TV,Fenced-Partially,Patio
  • MLSLotSizeSource: County Records
  • ZoningClass: Multi-Family

Green Features

  • Power Production Type: Electric, Wood

Rental Info

  • Furnished: Unfurnished
  • GrossRentMultiplier: 12
  • LeasedItems: None
  • TotalMonthlyIncome: 2885

Multi Family

  • Gross Scheduled Income: 34620
  • Net Operating Income: 29953
  • Number Of Units Total: 6
  • Insurance Expense: 1068
  • Leasable Area: 2468
  • UnitsInBuildingTotal: 2
  • UnitsBelowGrade: false
  • VacancyRate: 0

Tax Info

  • Year: 2019
  • Tax Annual Amount: 3599

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 21, 2020
Closed on
Feb 18, 2020
Sold by
Rei Olympia Llc
Bought by
Lee Sang K and Lee Hui K
Seller's Agent
Jane Snyder
Solution Partners NW
Buyer's Agent
Sung Han
eXp Realty
List Price
$449,999
Sold Price
$455,000
Premium/Discount to List
$5,001
1.11%
Current Estimated Value
$711,491

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$256,491
Avg. Annual Appreciation
7.70%
Original Mortgage
$255,000
Outstanding Balance
$228,646
Interest Rate
3.6%
Mortgage Type
New Conventional
Estimated Equity
$459,806

Purchase Details

Closed on
May 13, 2019
Sold by
Young Steve and Young Christina Anne
Bought by
Rei Olympia Llc

Purchase Details

Listed on
Aug 24, 2018
Closed on
Dec 29, 2018
Sold by
Taylor Anthony
Bought by
Yang Steve and Bryan Christina
Seller's Agent
Jim Bennett
RE/MAX Parkside Affiliates
Buyer's Agent
Renee Vinje
Coldwell Banker Bain
List Price
$389,000
Sold Price
$379,000
Premium/Discount to List
-$10,000
-2.57%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
9.29%
Original Mortgage
$284,250
Interest Rate
4.8%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jan 28, 2009
Sold by
Taylor Rita Magdalena
Bought by
Taylor Anthony

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$348,978
Interest Rate
5.04%
Mortgage Type
VA

Purchase Details

Closed on
Jun 15, 2007
Sold by
Tomsinski Roman S
Bought by
Taylor Anthony and Taylor Rita

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$342,000
Interest Rate
6.16%
Mortgage Type
VA
Source: Public Records

Range of Values:

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Average Value
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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 Buyer Sale Price Title Company
Lee Sang K $455,000 Stewart Title Thurston
Rei Olympia Llc -- None Available
Yang Steve $379,000 Stewart Title
Taylor Anthony -- None Available
Taylor Anthony $342,000 Stewart Title Of Western Was
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Lee Sang K $255,000
Previous Owner Yang Steve $284,250
Previous Owner Taylor Anthony $388,050
Previous Owner Taylor Anthony $377,318
Previous Owner Taylor Anthony $365,549
Previous Owner Taylor Anthony $373,449
Previous Owner Taylor Anthony $364,250
Previous Owner Taylor Anthony $348,978
Previous Owner Taylor Anthony $346,174
Previous Owner Taylor Anthony $342,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
02/24/2020 02/24/20 Sold $455,000 +1.1% $184 / Sq Ft
01/28/2020 01/28/20 Pending -- -- --
01/21/2020 01/21/20 For Sale $449,999 +18.7% $182 / Sq Ft
01/03/2019 01/03/19 Sold $379,000 -2.6% $154 / Sq Ft
11/17/2018 11/17/18 Pending -- -- --
10/19/2018 10/19/18 For Sale $389,000 0.0% $158 / Sq Ft
10/02/2018 10/02/18 Pending -- -- --
08/24/2018 08/24/18 For Sale $389,000 -- $158 / 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 $5,465 $572,200 $247,400 $324,800
2023 $5,465 $571,700 $206,300 $365,400
2022 $4,483 $493,200 $188,800 $304,400
2021 $4,663 $385,300 $139,300 $246,000
2020 $4,621 $361,700 $90,600 $271,100
2019 $3,599 $369,300 $148,700 $220,600
2018 $4,009 $285,000 $86,800 $198,200
2017 $3,465 $255,550 $59,750 $195,800
2016 $3,365 $213,900 $60,300 $153,600
2014 -- $244,100 $66,000 $178,100
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 1556596

Northwest Multiple Listing Service (NWMLS)

APN: 11813241008