Tumwater Hill Homes with Average Building Condition

Tumwater Hill Homes with Average Building Condition

Welcome to Tumwater Hill, a charming neighborhood nestled in the heart of Olympia, Washington. Known for its picturesque landscapes and welcoming community spirit, Tumwater Hill is a hidden gem in Thurston County that beautifully combines suburban tranquility with easy access to urban amenities.

As you stroll through Tumwater Hill, you’ll be captivated by the stunning views of the surrounding hills and lush greenery. The neighborhood is characterized by its well-maintained homes, many of which boast an average building condition, providing a perfect canvas for personalization and improvement. This balance of established residences and the opportunity for renovation makes Tumwater Hill an attractive option for both first-time homebuyers and seasoned investors.

Families will appreciate the neighborhood’s proximity to excellent schools, parks, and recreational facilities. Tumwater Hill is home to several family-friendly parks, perfect for weekend picnics, playdates, and outdoor activities. The community’s strong sense of camaraderie is evident in local events and gatherings, fostering a warm and inviting atmosphere for all residents.

Conveniently located just minutes from downtown Olympia, residents can enjoy a vibrant array of shopping, dining, and entertainment options. The nearby access to major highways and public transportation makes commuting a breeze, ensuring that you’re never far from the action.

Whether you’re looking to settle down in a welcoming community or seeking a property with potential, Tumwater Hill offers the perfect blend of charm, convenience, and opportunity. Discover your dream home in this delightful neighborhood today!

Newest Tumwater Hill Homes with Average Building Condition

$539,000
4 Beds ⋅ 2 Baths ⋅ 2573230 MLS ⋅ ACTIVE Status
Just off Tumwater’s historic core, near the Craft District, Brewery Park at Tumwater Falls, parks, trails and local schools, this is one of those properties where the options are the story. The recently refreshed 3-bedroom main home is warm and inviting, with a fully detached 1-bedroom, 1-bath ADU offering a second, completely separate place to live or rent. Live in the main home and rent the ADU. Live in the ADU and rent the larger home. Or rent both and let the numbers work for you. Current combined rents are $4,532/month, or $54,384/year. Seller-provided figures show $45,313 NOI and an approx. 8.4% cap rate based on current offering terms. Even with 20% down and conventional financing, current income and expenses show potential for positive cash flow. For an owner-occupant, rental income could offset a meaningful part of the monthly payment. For an investor, you have two rentable homes with established income in a location people want to live. The setting makes everyday life easy, with recreation, restaurants, schools and downtown Olympia nearby, plus direct access to I-5 for commuting north or south. Spend the morning walking Tumwater Falls, head to the Craft District for dinner, then come home to a property with room to make your own plan. Two detached homes, established income, everyday livability and more than one smart way to own it. Investor, first time buyer or downsizing? This is the property you have been waiting for!

101 2nd Avenue NW, Olympia

Listing courtesy of Coldwell Banker Evergreen.

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