Sold
Last Sold Price
1,902 sqft$315/sqft
507 Kaiser Rd NW, Olympia, WA 98502
Multi FamilyProperty Type
0.63 acresLot Size
1970Year Built
$315/sq ftPrice per sq ft
6 carsParking Spaces

Description

8% Cap Rate! 3 units on 2/3 acre on Olympia's Westside. Duplex plus single family home. Unit A: 1 bed / 1 full bath w/ attached carport; Unit B: Studio Apt w/ full bath. Unit C: 2 bed / 1 full bath & loft. Updated interiors. Property has wide circular driveway w/ 4 additional parking spaces. Accessibility cannot be beat! One block to bus stop and 1/4 mile to 101 freeway. Owner will pay for professional placement of new tenants for all units. All units are currently operating as a 4.78-star Airbnbs....8% Cap Rate! 3 units on 2/3 acre on Olympia's Westside. Duplex plus single family home. Unit A: 1 bed / 1 full bath w/ attached carport; Unit B: Studio Apt w/ full bath. Unit C: 2 bed / 1 full bath & loft. Updated interiors. Property has wide circular driveway w/ 4 additional parking spaces. Accessibility cannot be beat! One block to bus stop and 1/4 mile to 101 freeway. Owner will pay for professional placement of new tenants for all units. All units are currently operating as a 4.78-star Airbnbs. Furnishings can be purchased outside of closing for $10,000. Please do not disturb guests. Tours available - must be accompanied by an agent.
  • Listed by: Julie Brannberg 360.790.6317 Julie@amerapropertymanagement.com • Kenzie Properties LLC
Listing closed: 03/19/2024 12:00 AM • Source: NWMLS as distributed by MLS GRID, MLS#: 2180926

Recent comparable sales

Median sold price

$540,000

Avg days on market

28

Sale-to-list ratio

96.2%

Olympia, WA

9 comparable properties found

a potted plant sitting in front of a house
1/35
1

$540,000

Sold 10/07/24

Unavailable
Bedrooms
Unavailable
Bathrooms
1,864
Square Feet
0.17
Acres
a view of front of a house with a yard
1/31
2

$550,000

Sold 09/18/24

Unavailable
Bedrooms
Unavailable
Bathrooms
1,552
Square Feet
0.18
Acres
$514,000 | 3305 Windolph Lane Northwest, Olympia, WA 98502
1/37
3

$514,000

Sold 07/29/25

Unavailable
Bedrooms
Unavailable
Bathrooms
1,536
Square Feet
0.38
Acres
an aerial view of multiple house
1/22
4

$600,000

Sold 10/18/24

Unavailable
Bedrooms
Unavailable
Bathrooms
2,231
Square Feet
0.14
Acres
a front view of a house with a yard
1/2
5

$559,500

Sold 06/24/25

Unavailable
Bedrooms
Unavailable
Bathrooms
1,848
Square Feet
0.28
Acres
a view of a house with a yard and potted plants
1/19
6

$460,000

Sold 12/13/24

Unavailable
Bedrooms
Unavailable
Bathrooms
1,920
Square Feet
0.43
Acres
an aerial view of a house
1/35
7

$523,500

Sold 07/29/25

Unavailable
Bedrooms
Unavailable
Bathrooms
2,064
Square Feet
0.45
Acres
a front view of a house with garden
1/29
8

$560,000

Sold 10/21/25

Unavailable
Bedrooms
Unavailable
Bathrooms
1,572
Square Feet
0.15
Acres
a view of outdoor space and yard
1/34
9

$500,000

Sold 07/01/25

Unavailable
Bedrooms
Unavailable
Bathrooms
1,560
Square Feet
0.25
Acres

Location

Listing Courtesy of Kenzie Properties LLC

Sold By Better Properties N. Proctor

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Property Information for 507 Kaiser Road Northwest

Property Details
  • Taxes: $4,385 / year
  • MLS Type: Residential Income
  • Community Name: Westside
  • School District: Olympia
  • View: Territorial
  • Number of Assigned Spaces: 6
  • Total Covered Parking: 0
  • Entry Date: 11-17-2023
  • Energy Source: Electric
  • Sewer: Septic Tank
Building Information
  • Stories: 2
  • Residences: 3
  • Year Built: 1970
  • Lot Size: 0.63 AC / 27,443 SF
Summary
Location and General Information
  • Style: 53 - Tri-plex
  • Site Features: Cable TV, High Speed Internet, Outbuildings, Patio, RV Parking
  • Area: 444 - Olympia Westside
  • Elementary School: Mclane Elem
  • Middle Or Junior School: Marshall Middle
  • High School: Capital High
  • Directions: East on Mud Bay / Harrison, Right on Kaiser to property on Right.
  • Leased Items: None
  • Property Sub Type: MULT
  • View: Yes
  • Waterfront: No
Taxes and HOA Information
  • Tax Year: 2023
Parking
  • Number of Carport Spaces: 1.0
  • Carport: No
  • Parking Type: RV Parking
  • Open Parking Spaces: 5.0
  • Open Parking: Yes
  • Parking Features: RV Parking
Interior and Exterior Features
Interior Features
  • Floor Covering: Laminate, Vinyl, Vinyl Plank, Carpet
  • Features: Laminate, Wall to Wall Carpet
  • Cooling: Yes
  • Cooling: Window Unit A/C
  • Fireplace: No
  • Heating: Yes
  • Heating: Baseboard, Wall Unit(s)
  • FIRPTA: No
Exterior Features
  • Exterior: Wood
  • Roof: Composition
Property
Utilities
  • Water Source: Individual Well
  • Water/Sewer/Garbage: 0
  • Power Company: PSE
  • Sewer Company: Septic
  • Water Company: Individual Well
  • Power Production Type: Electric
Property and Assessments
  • New Construction YN: No
  • Zoning Jurisdiction: City
  • Zoning Class: Office,Residential
  • First Right Of Refusal: false
  • Possible Use: Office, Residential
  • MLS Square Footage Source: Contractor / Buyer to Verify
  • Preliminary Title Ordered: Yes
  • Senior Community: No
  • Special Listing Conditions: None
  • Photos Count: 35
Lot Information
  • Lot Details: Paved
  • Lot Size Source: County Assessor
  • Parcel Number Free Text: 12817310901
  • Building Condition: Good
  • Calculated Square Footage: 1902
  • Structure Type: Triplex
  • Square Footage Finished: 0
  • Square Footage Unfinished: 0
  • Building Area Total: 1902.0
  • Building Area Units: Square Feet
  • Property Type: Residential Income
  • Elevation Units: Feet
  • Irrigation Water Rights: No
Multi Family
Building Details
  • Number of Uncovered Spaces: 5
  • Number of Stories in Building: 2
  • Vacancy Rate: 5
  • Number Of Units Total: 3
  • Units Below Grade: false
  • Units In Building Total: 3
Financing / Income and Expenses
  • Electric Expense: $0
  • Total Expenses: 8085
  • Gross Adjusted Income: 57570
  • Gross Rent Multiplier: 10.18
  • Gross Scheduled Income: $60,600
  • Insurance Expense: $1,500
  • Net Operating Income: $49,485
  • Other Expenses: $2,200
  • Total Monthly Income: 5250
  • Fuel Expense: $0
Rental
Rent Information
  • Occupant Type: Tenant
  • Leasable Area: 1902.0
  • Leasable Area Units: Square Feet

Property History for 507 Kaiser Road Northwest

DateEvent & SourcePriceAppreciation
Mar 19, 2024

Sold

NWMLS #2180926

$600,000
Jan 8, 2024

Pending

NWMLS #2180926

Jan 6, 2024

Cancelled

NWMLS #2180926

DateEvent & SourcePrice
03/19/2024

Sold

NWMLS #2180926

$600,000
01/08/2024

Pending

NWMLS #2180926

01/06/2024

Cancelled

NWMLS #2180926

For completeness, we often displays two records for one sale: the MLS record and the public record.

Schools near 507 Kaiser Road Northwest

This home is within Olympia School District.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
McLane Elementary School
PublicPK to 5

Thurgood Marshall Middle School
Public6 to 8

Avanti High School
Public9 to 12

Capital High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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Nearby home values

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Kenzie Properties LLC

Based on information submitted to the MLS GRID as of 09/05/2024 05:48 AM. 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. Properties displayed may be listed or sold by various participants in the MLS. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed by MLS GRID. Use of the MLS GRID data may be subject to an end user license agreement prescribed by the applicable MLS of the Member Participant, if any, and as amended from time to time.