Property Details
1103 Creekwood Court SE
Olympia, WA 98501
$850,000
Pending Inspection
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Property Overview
Fully rented 4-plex in the Olympia School District. Each unit includes its own garage and in-unit washer and dryer, a rare combination that adds convenience and long-term appeal. Three of the four units have been beautifully remodeled top to bottom with updated kitchens, new flooring, and modern finishes. Major exterior updates include new concrete plank siding, newer roof, and windows, ensuring lower maintenance and long-term durability. Located minutes from parks, schools, and shopping, this well-maintained property attracts strong tenant demand. Reliable rental history, desirable unit features, and potential for increased rents make this a smart addition to any portfolio. A solid opportunity for new and seasoned investors.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Pending Inspection
County
Thurston
Neighborhood
Olympia
Listed
Jul 7, 2025
Original Price
$959,000
Financial Summary
Cap Rate
4.70%
Net Operating Income
$41,868
Gross Scheduled Income
$67,200
Gross Rent Multiplier
13.00
Total Expenses
$23,316
Vacancy Rate
2.0%
Building & Use
Building Sq Ft
3,616
Leasable Area
3,616 sqft
Total Units
4
Lot Size
9,583 sqft
Year Built
1992
Exterior & Lot
Lot Size
0.22 sqft
Year Built
1992
Garage
4 spaces
Exterior Materials
Cement Plank
Sewer
Sewer Connected
Water Source
Public
Lot Features
Paved
Exterior Features
Cement Planked
Location
City
Olympia
County
Thurston
Coordinates
47.03866, -122.86697
Additional Information
Tax Year
2025
Annual Taxes
$9,836
Possession
Array
Based on information submitted to the MLS GRID as of April 25, 2026 5:10 PM. 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, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2026 NWMLS. All rights reserved.
IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2026 NWMLS. All rights reserved.
