Property Details
1604 Fones Road SE
Olympia, WA 98501
$325,000
Pending Inspection
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About This Home
Exceptional Investment & Development Opportunity! Situated on a prime shy half-acre parcel in a high-density zoning area, this property offers outstanding potential for investors, developers, or those seeking long-term appreciation. Ideally located along Fones Road, the property is positioned to benefit from significant infrastructure improvements currently underway, including newly constructed streets and upgraded utilities, further enhancing its future value and development potential. The existing 2-bedroom, 1-bath home is undergoing a complete renovation with quality finishes throughout, creating an attractive, move-in-ready residence or income-producing rental. Renovations include an open-concept floor plan, stylish high-end finishes, and durable luxury vinyl plank flooring throughout. Whether you're looking to generate immediate rental income while planning future development or secure a property in a rapidly improving corridor, this is a rare opportunity to capitalize on both current cash flow and future multifamily development potential.
Property Details
Property Information
Property Type
Residential
Subtype
Single Family Residence
Status
Pending Inspection
County
Thurston
Neighborhood
Olympia
Listed
Jul 15, 2026
Structure Type
House
Parcel Number
11819142200
Tax & HOA
Annual Property Tax
$2,686 (2026)
Est. Monthly Tax
$224/mo
Interior Features
Bedrooms
2
Bathrooms
1.0
Living Area
1,056 sq ft
Basement
None
Entry Level
Main
Interior Features
Dining Room, Water Heater
Exterior & Lot
Lot Size
0.49 sqft
Year Built
1940
Exterior Materials
Wood
Parking
Driveway
Sewer
Septic Tank
Water Source
Public
Exterior Features
Wood
Community & Access
Directions
GPS friendly.
Location
City
Olympia
County
Thurston
Coordinates
47.03420, -122.84621
Schools
School District
North Thurston
Elementary School
Mountain View Elementary
Middle School
Chinook Mid
High School
North Thurston High
Additional Information
Tax Year
2026
Annual Taxes
$2,686
Possession
Array
Inclusions
Dishwasher(s),Microwave(s),Refrigerator(s),Stove(s)/Range(s)
Mortgage Calculator
Estimated Monthly Payment
$0
Down Payment
$0
Loan Amount
$0
Provided by Beyond Real Estate, LLC
Down Payment Assistance Available
This property may qualify for homebuyer assistance programs
Find out if you’re eligible for down payment assistance programs that could help make this home more affordable. Programs can provide thousands of dollars toward your down payment and closing costs.
Check Your EligibilityBased on information submitted to the MLS GRID as of July 23, 2026 6:00 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.
