Property Details
1815 Karen Frazier Road SE
Olympia, WA 98501
$699,950
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Property Overview
Like new investment opportunity in the heart of Olympia. This duplex style home features a 3 bedroom, 2.5 bath main home with an attached 2 bedroom, 1 bath ADU. Both homes features solid surface flooring throughout, granite counters throughout, stainless appliances, high efficiency mini split heat pump systems with air conditioning, and energy efficient insulation and lighting packages. Built in 2022 and exceptionally maintained. Long term leases in place and a great cap rate with room for continued growth. Exterior features custom accents and fenced rear yards. Close to all amenities and freeway access, with top rated Olympia schools nearby.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
Thurston
Neighborhood
Olympia
Listed
May 23, 2026
Structure Type
Duplex
Parcel Number
76000600107
Tax & HOA
Annual Property Tax
$7,803 (2026)
Est. Monthly Tax
$650/mo
Financial Summary
Cap Rate
5.90%
Net Operating Income
$41,355
Gross Scheduled Income
$52,428
Gross Rent Multiplier
13.50
Total Expenses
$11,073
Vacancy Rate
1.0%
Building & Use
Building Sq Ft
2,207
Leasable Area
2,207 sqft
Total Units
2
Zoning
Residential
Possible Use
Residential
Lot Size
5,149 sqft
Year Built
2022
Exterior & Lot
Lot Size
0.12 sqft
Year Built
2022
Garage
2 spaces
Exterior Materials
Cement, Wood
Sewer
Sewer Connected
Lot Features
Curbs, Paved, Sidewalk
Exterior Features
Cement/Concrete, Wood, Wood Products
Community & Access
Directions
South on Fones road from Pacific, right on 18th, left on Karen Frazier to house on right.
Location
City
Olympia
County
Thurston
Coordinates
47.03207, -122.86316
Additional Information
Tax Year
2026
Annual Taxes
$7,803
Possession
Array
Based on information submitted to the MLS GRID as of June 1, 2026 11:14 AM. 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.
