Property Details
1813 Franklin Street SE
Olympia, WA 98501
$549,900
Pending Inspection
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Property Overview
Great Olympia investment opportunity featuring 2 tenant-occupied units plus a partially finished basement with future rental potential once completed! Charming property with strong income-producing possibilities in a convenient location near downtown Olympia, shopping, restaurants, parks, & I-5 access. Each unit offers functional living spaces with included appliances: refrigerator, stove, dishwasher, washer & dryer. Property features classic character, ample parking, & flexibility for investors or owner-occupants looking to offset expenses. Basement space provides additional upside opportunity for added income or expanded living area with an already finished and built full size bathroom. Don’t miss this versatile multi-unit property with immediate cash flow & future potential! Interior photos coming soon.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Pending Inspection
County
Thurston
Neighborhood
Olympia
Listed
May 7, 2026
Financial Summary
Cap Rate
4.70%
Net Operating Income
$25,840
Gross Scheduled Income
$37,800
Gross Rent Multiplier
14.50
Total Expenses
$11,960
Building & Use
Building Sq Ft
2,903
Leasable Area
1,723 sqft
Total Units
2
Lot Size
5,001 sqft
Year Built
1926
Exterior & Lot
Lot Size
0.11 sqft
Year Built
1926
Exterior Materials
Wood
Sewer
Sewer Connected
Lot Features
Curbs, Paved, Sidewalk
Exterior Features
Wood, Wood Products
Location
City
Olympia
County
Thurston
Coordinates
47.03184, -122.89889
Additional Information
Tax Year
2026
Annual Taxes
$5,744
Possession
Array
Based on information submitted to the MLS GRID as of May 21, 2026 9:00 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.
