Last Sold Price
3,912 sqft$128/sqft
8401 Rainier Rd SE, Olympia, WA 98513

Description

Great investment opportunity with potential upside. Two manufactured homes on 2+/- acre lot with a 30x30 shop, multiple car ports, storage container, additional outbuildings, and two RV hookups. One home just signed a lease for $1825, with the other home and shop currently vacant. Both RV hookups are currently unused as well. Homes are in good condition with metal roofs, clean and easy to maintain interiors, and both have their own private yards. A great option for an owner occupant that wants to...Great investment opportunity with potential upside. Two manufactured homes on 2+/- acre lot with a 30x30 shop, multiple car ports, storage container, additional outbuildings, and two RV hookups. One home just signed a lease for $1825, with the other home and shop currently vacant. Both RV hookups are currently unused as well. Homes are in good condition with metal roofs, clean and easy to maintain interiors, and both have their own private yards. A great option for an owner occupant that wants to live in one home and rent the other, as well as an investor looking for increasingly hard to find cash flow. Pro forma cap rate of 6.6%.
LISTING CLOSED: 10/14/2022 12:00 AM

  1. Listed by John Stormans • Greene Realty Group LLC
    P: (360) 528-4160 johnstormans@olympicsir.com

Property Details for 8401 Rainier Road Southeast

Status
MLS #
1922178
Days on Market
96
Cumulative Days on Market
167
Taxes
$4,730 / year
HOA Fees
-
Condo/Co-op Fees
-
Property Type
MLS Type
Residential Income
Year Built
1981
Lot Size
2.39 AC / 104,108 SF
Community Name
East Olympia
School District
North Thurston
Number of Assigned Spaces
6
Total Covered Parking
0
Entry Date
04-27-2022
Energy Source
Electric
Sewer
Septic Tank

Location

Listing Courtesy of Greene Realty Group LLC

Sold By Keller Williams South Sound

Add your commute

Building Information for 8401 Rainier Road Southeast

Stories1Residences2Year Built1981Building Size-Lot Size2.39 AC / 104,108 SF

Payment Calculator

Get preapproved with
OriginPoint Mortgage or Rocket Mortgage1

$2,936 per month

30 year fixed, 6.55% Interest

Principal and Interest

$2,541

Property Taxes

$394

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Know your buying power with a preapproval and custom rate in minutes

Rocket Mortgage1

Property Information for 8401 Rainier Road Southeast

Summary
Location and General Information
  • Style: 52 - Duplex
  • Site Features: Fenced-Partially, Outbuildings, RV Parking, Shop
  • Area: 449 - East Olympia
  • Directions: Use GPS.
  • Leased Items: None
  • Property Sub Type: MULT
  • View: No
  • Waterfront: No
Taxes and HOA Information
  • Tax Year: 2022
Parking
  • Number of Carport Spaces: 4.0
  • Carport: No
  • Parking Type: RV Parking
  • Open Parking Spaces: 2.0
  • Open Parking: Yes
  • Parking Features: RV Parking
Interior and Exterior Features
Interior Features
  • Furnished: Unfurnished
  • Floor Covering: Laminate
  • Features: Forced Air, Heat Pump, Laminate
  • Cooling: Yes
  • Fireplace: No
  • Heating: Yes
Exterior Features
  • Exterior: Metal/Vinyl, Wood Products
  • Roof: Composition, Metal
  • Security Features: FullyFenced
Property
Utilities
  • Water Source: Individual Well
  • Water/Sewer/Garbage: 0
  • Power Production Type: Electric
  • Utilities: Septic System, Electric, Individual Well
Property and Assessments
  • New Construction YN: No
  • Foundation: Post & Block
  • Preliminary Title Ordered: Yes
  • Senior Community: No
  • Special Listing Conditions: None
  • Photos Count: 36
Lot Information
  • Lot Details: Paved
  • Lot Size Source: Tax Assessor
  • Parcel Number Free Text: 11715210300
  • Calculated Square Footage: 3912
  • Structure Type: Duplex
  • Square Footage Finished: 0
  • Square Footage Unfinished: 0
  • Building Area Total: 3912.0
  • Building Area Units: Square Feet
  • Property Type: Residential Income
  • Elevation Units: Feet
  • Irrigation Water Rights: No
Multi Family
Building Details
  • Number of Uncovered Spaces: 2
  • Number of Stories in Building: 1
  • Vacancy Rate: 5
  • Number Of Units Total: 2
  • Units Below Grade: false
  • Units In Building Total: 2
Financing / Income and Expenses
  • Electric Expense: $0
  • Total Expenses: 6230
  • Gross Adjusted Income: 44175
  • Gross Rent Multiplier: 0
  • Gross Scheduled Income: $46,500
  • Insurance Expense: $1,500
  • Net Operating Income: $37,945
  • Other Expenses: $0
  • Total Monthly Income: 3875
  • Fuel Expense: $0
Rental
Rent Information
  • Occupant Type: Tenant
  • Leasable Area: 3912.0
  • Leasable Area Units: Square Feet

Property History for 8401 Rainier Road Southeast

DateEvent & SourcePriceAppreciation
Oct 14, 2022

Sold

NWMLS #1922178

$500,000
Oct 13, 2022

Sold (Public Record)

Public Record #1498994811

$500,000

+17.1% / yr

Oct 12, 2022

Pending

NWMLS #1922178

DateEvent & SourcePrice
10/14/2022

Sold

NWMLS #1922178

$500,000
10/13/2022

Sold (Public Record)

Public Record #1498994811

$500,000

+17.1% / yr

10/12/2022

Pending

NWMLS #1922178

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

Public Records for 8401 Rainier Road Southeast

Taxable ValueLand$272,300Additions$199,600Total$471,900
Tax Record2026$227 ($19 / month)
Home Facts
Total Finished SqFt1,848 SqFtAbove Ground SqFt1,848 SqFtStories1Lot Size104,108 SqFtStyleMobile / Manufactured HomeYear Built1992CountyTHURSTONAPN1171-52-10300Fireplace TypeHas Fireplace

Schools near 8401 Rainier Road Southeast

This home is within North Thurston Public Schools.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 6 to 8
Rating
School
Distance
Horizons Elementary School
PublicK to 5

Komachin Middle School
Public6 to 8

Timberline High School
Public9 to 12

Aspire Middle School
Public6 to 8

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.

Similar Homes

New listings in 98513

$619,500 | 6820 Meridian Road Southeast, Olympia, WA 98513
1/40

Courtesy of NWMLS

New

$619,500

3
Bedrooms
1,658
Square Feet
2.13
Acres
$749,999 | 2926 Balsamroot Drive Southeast, Lacey, WA 98513
1/29

Courtesy of NWMLS

$749,999

2
Bedrooms
2,295
Square Feet
0.14
Acres
$619,000 | 3746 Golden Eagle Loop Southeast, Olympia, WA 98513
1/39

Courtesy of NWMLS

$619,000

3
Bedrooms
1,830
Square Feet
0.37
Acres
$339,950 | 818 Berne Lane Southeast, Olympia, WA 98513
1/24

Courtesy of NWMLS

$339,950

3
Bedrooms
1,072
Square Feet
0.05
Acres
$430,000 | 1706 Foxfire Drive Southeast, Olympia, WA 98513
1/31

Courtesy of NWMLS

Virtual Tour

$430,000

3
Bedrooms
1,014
Square Feet
0.23
Acres
$119,999 | 1546 Reservation Road Southeast, Unit 22, Olympia, WA 98513
1/22

Courtesy of NWMLS

$119,999

1
Bedrooms
120
Square Feet
$300,000 | 11540 6th Avenue Southeast, Olympia, WA 98513
1/36

Courtesy of NWMLS

$300,000

3
Bedrooms
1,344
Square Feet
0.30
Acres
$280,000 | 1546 Reservation Road Southeast, Unit 197, Olympia, WA 98513
1/34

Courtesy of NWMLS

$280,000

1
Bedrooms
589
Square Feet
$730,000 | 6139 86th Avenue Southeast, Olympia, WA 98513
1/40

Courtesy of NWMLS

$730,000

3
Bedrooms
2,108
Square Feet
1.07
Acres

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 Greene Realty Group LLC

Based on information submitted to the MLS GRID as of 09/05/2024 05:45 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.