333 Division Street NW, Olympia, WA 98502
- $2,495,000
- 10,338
- SqFt
Listing courtesy of The Foundation Group LLC. Selling Office: The Foundation Group LLC.
- Sold Price
- $2,495,000
- List Price
- $2,550,000
- Status
- SOLD
- MLS#
- 2164199
- Closing Date
- Apr 29, 2024
- Days on Market
- 137
- Style
- 56 - 10+ Units
- Building Condition
- Good
- Finished SqFt
- 10,338
- Area Total SqFt
- 10338
- Annual Tax Ammount
- 21732
- Lot Size (sq ft)
- 35,260
- Sewer
- Sewer Connected
Property Description
Price reduction - current cap rate of 6.52% trending to 8.81%. Olympia Portfolio: value-add 15-unit in NW Olympia. Proximity to Capital Mall for retail, groceries, and dining. Well-connected to transportation. 7 contiguous parcels - four townhomes (built 2007, 2009), single-family home (1934), 6-unit apartment with standalone retail (1947), single parcel containing a house, cottage and converted garage unit (1935). Nearby to parks and Evergreen State College. Thoughtfully maintained with high curb appeal. Fully occupied, potential for rent increases and interior renovations. Parcels offer flexibility and significant value-add component.
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Additional Information
- List Date
- 2023-12-14 00:00:00
- Community
- Westside
- Net Operating Income
- $163,286
- Gross Adjusted Income
- $238,783
- Gross Scheduled Income
- $241,020
- Total Monthly Income
- $20,982
- Insurance Expenses
- $8,366
- Water/Sewer/Garbage Expenses
- $11,000
- Gross Rent Multiplier
- 10
- Total Expenses
- $75,497
- Cap Rate
- 6.51
- Vacancy Rate
- 4
- Total Number of Units
- 15
- Unit Name
- 333
- Potential Terms
- Cash Out
- Year Built
- 1935
- Roof
- Composition, See Remarks
- Electric Expenses
- 4740
- Other Expenses
- 29659
- Energy Source
- Electric
- School District
- Olympia
- Total Monthly Income
- $20,982
- Gross Scheduled Income
- $241,020
- Vacancy Rate
- 4
- Gross Adjusted Income
- $238,783
- Tax Year
- 2023
- Insurance Expense
- $8,366
- W/S/G Expenses
- $11,000
- Total Expenses
- $75,497
- Net Operating Income
- $163,286
- Gross Rent Multiplier
- 10
- Cap Rate
- 6.51
Based on information submitted to the MLS GRID as of . 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, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.