Property Details
2511 -2513 Prospect Avenue NE #13
Olympia, WA 98506
$465,000
Pending Inspection
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Property Overview
Wise investment. Fair value duplex in an established, desirable NE Olympia neighborhood that is very close to all conveniences and I-5. Responsible, long term tenants who want to stay on. First floor tenant's lease expires in July 2026. Second floor tenant's lease expires at the end of August. Five off the street parking spots. Each unit has its own yard and garden space (tenant maintained) with a fence delineating each portion. Gas furnaces in each unit. Some recent updates. Tile floors + shower, engineered hardwood, not the cheap materials traditionally used in rentals. Updated electric wiring, insulated attic and crawl space, composition roof in good condition. First floor #2513 is the larger unit with large main bedroom and half en suite bath. Also, large living room, kitchen, laundry room, full second bathroom and back door entry into a mud room. Second floor unit is smaller and consists of main bedroom, kitchen, living room and a little reading/meditation nook.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Pending Inspection
County
Thurston
Neighborhood
Olympia
Listed
Feb 25, 2026
Financial Summary
Cap Rate
5.39%
Net Operating Income
$24,535
Gross Scheduled Income
$31,800
Gross Rent Multiplier
14.30
Total Expenses
$7,265
Building & Use
Building Sq Ft
1,422
Leasable Area
1,440 sqft
Total Units
2
Lot Size
6,299 sqft
Year Built
1901
Exterior & Lot
Lot Size
0.14 sqft
Year Built
1901
Exterior Materials
Wood
Sewer
Septic Tank
Water Source
Public
Lot Features
Paved
Exterior Features
Wood, Wood Products
Location
City
Olympia
County
Thurston
Coordinates
47.04896, -122.86585
Additional Information
Tax Year
2026
Annual Taxes
$4,950
Possession
Array
Based on information submitted to the MLS GRID as of April 25, 2026 5:11 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.
