503 Devoe Street Ne, Olympia, WA 98506

Olympia
Local realty services provided by:ERA Skyview Realty
Listed by: keenan french
Office: capitol real estate llc.
MLS#:2453507
Source:NWMLS
503 Devoe Street Ne,Olympia, WA 98506
$650,000
  • - Beds
  • - Baths
  • 2,422 sq. ft.
  • Multi-family
  • Active

Price summary

  • Price:$650,000
  • Price per sq. ft.:$268.37

About this home

Strong investment opportunity with immediate cash flow. Situated on the Eastside of Olympia within the UGA—just outside city limits—this property is not subject to the City of Olympia’s newer landlord-tenant regulations. Built in 2011, the duplex features two well-designed units: a 3 bed, 2 bath and a 2 bed, 1 bath. The 2-bedroom unit has been recently remodeled with LVP flooring, quartz countertops, new cabinetry, millwork, trim, doors, appliances, and fresh interior paint. Each unit includes a 1-car garage, enhancing tenant appeal. The property sits on a spacious lot just shy of half an acre and offers valuable development upside. Zoned to accommodate two duplexes, there is potential to add a second structure with sewer connection. With a 6.34% cap rate, desirable Olympia School District, and strong future growth potential, this is a compelling addition to any investment portfolio.

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Home facts

  • Year built:2011
  • Listing ID #:2453507
  • Updated:May 04, 2026 at 12:21 AM

Rooms and interior

  • Flooring:Carpet, Vinyl Plank
  • Living area:2,422 sq. ft.

Heating and cooling

  • Heating:Forced Air

Structure and exterior

  • Roof:Composition
  • Year built:2011
  • Building area:2,422 sq. ft.
  • Lot area:0.44 Acres
  • Lot Features:Dead-end Street, Paved
  • Construction Materials:Cement Planked
  • Exterior Features:Deck, Patio

Schools

  • High school:Olympia High
  • Middle school:Reeves Mid
  • Elementary school:Roosevelt Elementary

Utilities

  • Water:Public
  • Sewer:Sewer Connected

Finances and disclosures

  • Price:$650,000
  • Price per sq. ft.:$268.37
  • Tax amount:$6,873 (2025)

Features and amenities

  • Amenities:Cable TV, High Speed Internet

Parking

  • Parking description:Uncovered Space(s) : 4
  • Garage:Yes
  • Garage spaces:2
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