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Street View
Listed by: Ken Crotts (425) 432-8600 | eXp Realty (888) 317-5197
$325,000
Monthly Est:$1,618
2 Beds
1 Bath1 full bath
1,056sqft
1604 Fones Rd SE, Olympia, WA 98501
$325,000
$1,618/moEst:
Get Pre-Approved
Single Family Residence
Built in 1940
$-- HOA
21,454 sqft lot
$308/sq.ft
Description
DEVELOPMENT & INVESTMENT OPPORTUNITY! Unlock the potential of this strategically positioned property in a rapidly evolving corridor with strong future multifamily development potential. Situated on a valuable parcel, the property offers investors the opportunity to acquire and hold today while creating additional value through future redevelopment. The existing 2-bedroom, 1-bath home provides flexibility for interim rental income or personal use while exploring development plans, entitlements, or redevelopment opportunities. This unique combination of current income potential and long-term land value makes the property an attractive option for investors seeking multiple exit strategies. Ideal for investors, builders, and developers looking to capitalize on an area experiencing ongoing infrastructure improvements and growth. Generate potential income today, hold for appreciation, and position yourself for future multifamily development. A compelling opportunity to invest in the property’s current value while planning for its greater future potential.
- Houzeo last checked: 12 hours ago
- Listing updated: September 18, 2026 at 4:44 pm
- Source: Northwest Multiple Listing Service | MLS#: NWM2553249
Property Details
Status
Pending
Type
Single Family Residence
No. of Stories
-
County
City
Neighborhood
--
Year Built
1940
HOA Fees
-
Finished Area
1,056 sqft
Lot Size
21,454 sqft lot
Basement Area
- sqft
MLS Name
Northwest Multiple Listing Service
MLS Number
NWM2553249
MLS Status
Pending Feasibility
Days on Market
79
Cumulative Days on Market
43
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Location
Facts & Features
Rooms
Bedrooms & bathrooms
Bedrooms: 2
Bathroom: 1
Dining Room
Level: Main
Entry Hall
Level: Main
Kitchen Without Eating Space
Level: Main
Living Room
Level: Main
Utility Room
Level: Main
Bathroom Full
Level: Main
Bedroom
Level: Main
Bedroom
Level: Main
Interior
Exterior Features
Wood
Heating
Baseboard, Forced Air
Sewer
Septic Tank
Cooling
Forced Air
Interior Features
Dining Room, Water Heater
Appliances
Dishwasher, Microwave, Refrigerator, Stove(s)/range(s)
Construction
Year Built
Year Built: 1940
Home type
Single Family Residence
Construction Materials
Wood
Foundation Details
Pillar/post/pier
Roof
Composition
Utilities & Energy
Water Source
Public
Parking Features
Driveway
Basement
None
Other Features
Subdivision Name
Olympia
Price History
| Date | Event | Price |
|---|---|---|
09/18/2026 Source: | Pending | $325,000 $308/sqft |
09/02/2026 Source: | Listed for Sale | $325,000 $308/sqft |
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Based on information submitted to the MLS GRID by Northwest Multiple Listing Service as of Oct 02, 2026, 09:01AM. 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.
IDX information is provided exclusively for consumers’ personal, noncommercial use; it may not be used for any purpose other than to identify prospective properties that consumers may be interested in purchasing, that the data is deemed reliable, but is not guaranteed by MLS GRID, and that the use of the MLS GRID Data may be subject to an end-user license agreement prescribed by the Member Participant’s applicable MLS, if any and as amended from time to time. © 2025 Northwest Multiple Listing Service. All Rights Reserved.
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