Property Details
2009 Water Street SW, Olympia, WA 98501
Olympia, WA 98501
$599,900
Active
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About This Home
Rare opportunity in the prestigious South Capitol neighborhood! This renovated duplex is located on a quiet street just 5 blocks from the State Capitol campus and minutes from the markets and restaurants of downtown Olympia. Situated next to a serene pocket park, the property offers a peaceful setting with a strong cap rate and ATTRACTIVE OWNER FINANCING. Large picture windows provide fantastic natural light and beautiful territorial views with pleasant spots to gaze at Capitol Lake through the surrounding tall trees. The upper unit features gorgeous refinished red oak floors and a working wood stove for cozy evenings. The lower unit includes a private deck perfect for relaxing. Both units are small and highly practical, offering 1 bedroom and 1 bathroom each. The kitchens are bright with new countertops, plenty of storage, and dedicated eating spaces. Modern upgrades include new water heaters and stacked washer and dryer systems in both units. With rents increased in the last year, this is a turnkey investment or an ideal primary residence with rental income to offset the mortgage. Enjoy being close to everything the city has to offer while living in one of Olympia's most sought-after areas. This property combines charm, modern amenities, and a prime location for any savvy buyer. Don't miss out on this versatile duplex in the heart of South Capitol. Access to upper unit only, lower unit will be accessible upon signed purchase and sale agreement.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
Thurston
Neighborhood
Olympia
Listed
Apr 3, 2026
Interior Features
Bathrooms
0.0
Stories
2
Exterior & Lot
Lot Size
0.64 sqft
Year Built
1940
Exterior Materials
Wood
Sewer
Sewer Connected
Water Source
Public
Lot Features
Curbs, Paved, Sidewalk
Exterior Features
Wood
Location
City
Olympia
County
Thurston
Coordinates
47.03050, -122.90472
Schools
School District
Olympia
Elementary School
Lincoln Elementary
Middle School
Wash Mid
High School
Olympia High
Additional Information
Tax Year
2026
Annual Taxes
$5,112
Possession
Array
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Estimated Monthly Payment
$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 April 4, 2026 4:15 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.
