Sold
Last Sold Price
3,912 sqft
8401 Rainier Rd SE, Olympia, WA 98513
Multi FamilyProperty Type
2.39 acresLot Size
1981Year Built
$128/sq ftPrice per sq ft
6 carsParking Spaces

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%.
  • Listed by: John Stormans 360.528.4160 johnstormans@olympicsir.com • Greene Realty Group LLC
Listing closed: 10/14/2022 12:00 AM • Source: NWMLS as distributed by MLS GRID, MLS#: 1922178

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Recent comparable sales

Median sold price

$514,000

Avg days on market

23

Sale-to-list ratio

96.9%

Olympia, WA

9 comparable properties found

$550,000 | 4720-4722 Carpenter Road Southeast, Olympia, WA 98513
1/20
1

$550,000

Sold 07/11/25

Unavailable
Bedrooms
Unavailable
Bathrooms
1,560
Square Feet
0.26
Acres
a view of a house with yard and sitting area
1/2
2

$450,000

Sold 03/31/26

Unavailable
Bedrooms
Unavailable
Bathrooms
1,768
Square Feet
0.47
Acres
a view of a house with a yard and potted plants
1/19
3

$460,000

Sold 12/13/24

Unavailable
Bedrooms
Unavailable
Bathrooms
1,920
Square Feet
0.43
Acres
$514,000 | 3305 Windolph Lane Northwest, Olympia, WA 98502
1/37
4

$514,000

Sold 07/29/25

Unavailable
Bedrooms
Unavailable
Bathrooms
1,536
Square Feet
0.38
Acres
a view of outdoor space and yard
1/34
5

$500,000

Sold 07/01/25

Unavailable
Bedrooms
Unavailable
Bathrooms
1,560
Square Feet
0.25
Acres
an aerial view of a house
1/35
6

$523,500

Sold 07/29/25

Unavailable
Bedrooms
Unavailable
Bathrooms
2,064
Square Feet
0.45
Acres
a front view of a house with a yard
1/2
7

$559,500

Sold 06/24/25

Unavailable
Bedrooms
Unavailable
Bathrooms
1,848
Square Feet
0.28
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 backyard of a house with lots of green space and a forest
1/9
9

$25,000

Sold 10/18/24

Unavailable
Bedrooms
Unavailable
Bathrooms
Unavailable
Square Feet
0.17
Acres

Location

Listing Courtesy of Greene Realty Group LLC

Sold By Keller Williams South Sound

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Property Taxes

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Property Information for 8401 Rainier Road Southeast

Property Details
  • Taxes: $4,730 / year
  • MLS Type: Residential Income
  • 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
Building Information
  • Stories: 1
  • Residences: 2
  • Year Built: 1981
  • Lot Size: 2.39 AC / 104,108 SF
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.

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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 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.