1022 & 1026 Bethel Street NE, Olympia, WA 98506
- $715,000
- 2,736
- SqFt
Listing courtesy of Coldwell Banker Evergreen. Selling Office: Van Dorm Realty, Inc.
- Sold Price
- $715,000
- List Price
- $690,000
- Status
- SOLD
- MLS#
- 2214311
- Closing Date
- May 15, 2024
- Days on Market
- 14
- Style
- 52 - Duplex
- Building Condition
- Very Good
- Finished SqFt
- 2,736
- Area Total SqFt
- 2736
- Annual Tax Ammount
- 4972
- Internet Provider
- Xfinity/Comcast
- Lot Size (sq ft)
- 7,194
- Sewer
- Sewer Connected
- Offer Review Date
- 2024-04-09
Property Description
Wonderfully maintained 3BR/2.5 bath each side. Same owner for over 20 years has maintained the units carefully. Roof, gutters and Hardi-Plank siding approximately 2014. FAG furnace and hot water heaters have been updated. Back patio, fenced yards. Long term tenants pay very low rents. Income was not a concern of current owner/family trust. Both tenants are on a month to month lease. POTENTIAL ALERT: Similar duplexes in age, size, 3/2.5, condition and nbrhd sold in October 2023 for $735,000 and $740,000 respectively both with rents of $1900 and $2200 per side. Cap rate reflects that owner currently pays W/S/G to offset cost of irrigation water, could be modified in several ways. This would make a wonderful owner occupied duplex.
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Additional Information
- List Date
- 2024-05-01 00:00:00
- Community
- Bigelow
- Net Operating Income
- $27,676
- Gross Adjusted Income
- $38,400
- Gross Scheduled Income
- $38,400
- Insurance Expenses
- $1,540
- Water/Sewer/Garbage Expenses
- $4,212
- Gross Rent Multiplier
- 17.96
- Total Expenses
- $10,724
- Cap Rate
- 4.01
- Total Number of Units
- 2
- Unit Name
- 1022 & 1026
- Potential Terms
- Cash Out, Conventional
- Year Built
- 1994
- View
- City
- Roof
- Composition
- Site Features
- Cable TV, Fenced-Fully, Gas Available, High Speed Internet, Outbuildings, Patio, Sprinkler System
- Energy Source
- Natural Gas
- School District
- Olympia
- Elementary School
- Roosevelt Elementary
- Middle School
- Reeves Mid
- High School
- Olympia High
- Gross Scheduled Income
- $38,400
- Gross Adjusted Income
- $38,400
- Tax Year
- 2023
- Insurance Expense
- $1,540
- W/S/G Expenses
- $4,212
- Total Expenses
- $10,724
- Net Operating Income
- $27,676
- Gross Rent Multiplier
- 17.96
- Cap Rate
- 4.01
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.