915 Capitol Way South
915 Capitol Way South
Olympia, WA 98501
$4,350,000
Price
3
Beds
3
Baths
—Sq. Ft.
— / Sq. Ft.
—
Sq. Ft.
—
per Sq. Ft.
Listing provided courtesy of Urban Commercial Partners, LLC
Description
We are pleased to present this Downtown Olympia multi-family portfolio as available for sale for the first time in 20+ years. The offering consists of 2 contiguous properties - Olympia Court Apartments and The Anderson House. There are 34 Total Units, including (19) Studios, (12) 1 bed/1 bath units, (1) 2 bed/1 bath unit and (2) retail storefronts with frontage on popular Capitol Way South. Properties have been locally owned, operated and meticulously maintained for 20+ years. Just steps to the Capital...We are pleased to present this Downtown Olympia multi-family portfolio as available for sale for the first time in 20+ years. The offering consists of 2 contiguous properties - Olympia Court Apartments and The Anderson House. There are 34 Total Units, including (19) Studios, (12) 1 bed/1 bath units, (1) 2 bed/1 bath unit and (2) retail storefronts with frontage on popular Capitol Way South. Properties have been locally owned, operated and meticulously maintained for 20+ years. Just steps to the Capital Campus, tenants enjoy outstanding walkability to restaurants, shops, entertainment and necessities. Extremely high historic occupancy with significant upside potential via rent increases and utility charges.
- Listed by Pat Suarez • Urban Commercial Partners, LLC
Property Details for 915 Capitol Way South
Community Name
Capital Campus
School DistrictOlympia
ViewTerritorial
Number of Assigned Spaces17
Total Covered Parking17
Entry Date04-03-2024
Energy SourceElectric,Natural Gas
SewerSewer Connected
Location
Listing Courtesy of Urban Commercial Partners, LLC![]()
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LISTING UPDATED: 04/17/2024 12:28 PM
Property Details for 915 Capitol Way South
| Status | Active |
|---|---|
| MLS # | 2218285 |
| Days on Market | 27 |
| Cumulative Days on Market | 26 |
| Taxes | $37,341 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1929 |
| Lot Size | 0.34 AC / 15,000 SF |
| County | Thurston County |
Location
Listing Courtesy of Urban Commercial Partners, LLC![]()
Add your commute
Building Information for 915 Capitol Way South
Stories2Residences4Year Built1929Building Size-Lot Size0.34 AC / 15,000 SF
Payment Calculator
$26,851 per month
30 year fixed, 7.25% Interest
Principal and Interest
$23,740
Property Taxes
$3,112
HOA Dues
$0
The Payment Calculator is for illustrative purposes only.
Property Information for 915 Capitol Way South
Summary
Location and General Information
- Style: 56 - 10+ Units
- Area: 447 - Olympia North
- Directions: From I-5, Take Exit 105 to State Capital. Turn Right on Capital Way South. Property on your left.
- Leased Items: None
- Property Sub Type: MULT
- View: Yes
- Waterfront: No
Taxes and HOA Information
- Tax Year: 2024
- Additional Tax Ids: 78506500003
Parking
- Number of Carport Spaces: 0.0
- Carport: No
- Open Parking Spaces: 0.0
- Open Parking: No
Interior and Exterior Features
Interior Features
- Floor Covering: Vinyl, Carpet
- Features: Wall to Wall Carpet
- Amenities: Coin Op Laundry
- Cooling: No
- Cooling: None
- Fireplace: No
- Heating: Yes
- Heating: Baseboard
Exterior Features
- Exterior: Wood
- Roof: Composition
Property
Utilities
- Water/Sewer/Garbage: 53394
- Power Production Type: Electric, Natural Gas
Property and Assessments
- New Construction YN: No
- Foundation: Poured Concrete
- Preliminary Title Ordered: Yes
- Senior Community: No
- Special Listing Conditions: None
- Photos Count: 14
Lot Information
- Lot Size Source: County
- Parcel Number Free Text: 78506500002
- Calculated Square Footage: 0
- Structure Type: Multi Family
- Square Footage Finished: 0
- Square Footage Unfinished: 0
- Building Area Total: 0.0
- Building Area Units: Square Feet
- Property Type: Residential Income
- Elevation Units: Feet
- Irrigation Water Rights: No
Multi Family
Building Details
- Number of Uncovered Spaces: 0
- Number of Stories in Building: 2
- Vacancy Rate: 4
- Number Of Units Total: 4
- Units Below Grade: true
- Units In Building Total: 34
Financing / Income and Expenses
- Electric Expense: $0
- Total Expenses: 193953
- Gross Adjusted Income: 443750
- Gross Rent Multiplier: 9.41
- Gross Scheduled Income: $462,240
- Insurance Expense: $27,719
- Net Operating Income: $249,567
- Other Expenses: $75,499
- Total Monthly Income: 38120
- Fuel Expense: $0
Unit 1
- Name Unit 1: (19)
- Washer/Dryer Unit 1: false
- Range/Oven Unit 1: true
- Refrigerator Unit 1: true
- Dishwasher Unit 1: false
- Rent Unit 1: $1,020.00
- Bedrooms Unit 1: 0
- Fireplaces Unit 1: 0
- Bathrooms Unit 1: 1
Unit 2
- Name Unit 2: (12)
- Washer/Dryer Unit 2: false
- Range/Oven Unit 2: true
- Refrigerator Unit 2: true
- Dishwasher Unit 2: false
- Rent Unit 2: $1,191.00
- Bedrooms Unit 2: 1
- Fireplaces Unit 2: 0
- Bathrooms Unit 2: 1
Unit 3
- Name Unit 3: (1)
- Washer/Dryer Unit 3: false
- Range/Oven Unit 3: true
- Refrigerator Unit 3: true
- Dishwasher Unit 3: false
- Rent Unit 3: $1,495.00
- Bedrooms Unit 3: 2
- Fireplaces Unit 3: 0
- Bathrooms Unit 3: 1
Unit 4
- Name Unit 4: (2)
- Washer/Dryer Unit 4: false
- Range/Oven Unit 4: false
- Refrigerator Unit 4: false
- Dishwasher Unit 4: false
- Rent Unit 4: $995.00
- Bedrooms Unit 4: 0
- Bathrooms Unit 4: 0
Rental
Rent Information
- Occupant Type: Tenant
- Leasable Area: 23677.0
- Leasable Area Units: Square Feet
Property History for 915 Capitol Way South
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 915 Capitol Way South
Taxable ValueLand$318,700Additions$3,225,100Total$3,543,800
Tax Record2023$35,298 ($2,941 / month)
Home Facts
Total Finished SqFt19,783 SqFtAbove Ground SqFt19,783 SqFtStories2Lot Size14,810 SqFtStyleMulti-Family Res (5+ Units)Year Built1929Year Renovated1975CountyTHURSTONAPN7850-65-00002
Schools near 915 Capitol Way South
This home is within Olympia School District.
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | K to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | 9 to 12 |
Rating | School | Distance |
|---|---|---|
Lincoln Elementary School PublicK to 5 | ||
Washington Middle School Public6 to 8 | ||
Olympia High School Public9 to 12 | ||
Avanti 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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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.
Listing Courtesy of Urban Commercial Partners, LLC
Listing provided courtesy of NWMLS, RMLS or Yakima MLS. The information contained in this listing has not been verified by Compass or the MLS and should be verified by the buyer. The DOM value represents the number of days this listing has been Active on this website.