Olympia WA Multi-Family Real Estate, Homes for Sale

This beautiful duplex is ready for its next owner. House is sound and has been lovingly updated with new flooring throughout, brand new windows (with transferable lifetime warranty), new fence, new water heater in 1327 and new tub in 1329. All appliances stay. Roof is less than 10 years old. This duplex is consistently rented with high occupancy percentage. Elementary school located right across the street. Great location, close to JBLM, shopping, and the I-5 corridor.

1327 Horne Street NE, Olympia

Listing courtesy of Real Broker LLC.

$469,000

2571995 MLS ⋅ ACTIVE Status

solid one level duplex in excellent Eastside location; equally walkable to downtown or the San Francisco Steet Bakery. Each unit has 2 bedrooms, 1.5 baths, a large, private fenced backyard, a secure attached garage plus additional off street parking, a laundry room with washer and dryer, well set back from the street, and no stairs. Building has a new roof and electrical service, and has been well maintained with a lot of recent updates.

1126 Puget Street NE, Olympia

Listing courtesy of RE/MAX Northwest.

$639,000

2567540 MLS ⋅ ACTIVE Status

Great opportunity to acquire a freshly remodeled duplex in excellent condition with tremendous income producing potential. Or occupy one side and lease out the other to decrease your mortgage payment. Located on Olympia’s Eastside in the UGA, just outside city limits, this 2011-built duplex offers two established rental units plus potential to expand. The property includes a 3-bedroom, 2-bath unit with a 1-car garage and a fully remodeled 2-bedroom, 1-bath unit with a 1-car garage. The smaller unit has been extensively updated with LVP flooring, quartz countertops, new kitchen cabinets, appliances, doors, millwork, trim, and fresh paint. The nearly half-acre lot provides potential to develop an additional duplex, creating the possibility for four total units and increased income-producing capacity. Strong location, Olympia schools, existing rental income, and future possibilities for development. This is a great location within walking distance to most Eastside Olympia amenities, but has a rural feel of living in the country!

503 Devoe Street NE, Olympia

Listing courtesy of Capitol Real Estate LLC.

$399,950

2566733 MLS ⋅ ACTIVE Status

Side-by-side duplex on a quiet dead-end road. Each unit features 1 bedroom and 1 bathroom, with a simple, functional layout. Both units offer a dedicated carport plus additional parking. Enjoy a convenient location close to shopping, town center, and everyday amenities, with easy access to bus lines and nearby freeways for commuters. **The 1-bedroom unit is currently vacant and available to show, providing an excellent opportunity for an owner-occupant ** Duplex next door is also for sale.

1508 1510 Fones Road SE, Olympia

Listing courtesy of Better Properties N. Proctor.

$475,000

2555802 MLS ⋅ ACTIVE Status

Great rental potential in the coveted Bigelow neighborhood! Formerly a fully rented duplex, the current owners converted to SFR. Easily converted back to a duplex just by adding door by the living room to create a separate upstairs unit. Upstairs back room is still plumbed for a full kitchen, and you could add a ductless washer/dryer to the space for full functionality. Downstairs has a completely remodeled kitchen with smart appliances (combo oven with convection/steam/air fryer options and gas range with voice-activated hood!), butcher block counters, and USB outlets, large laundry/mud room, bedroom with walk-in closet, and full bath. Upstairs has a large living room with seasonal views of the capital dome, a bedroom, a potential kitchen/dining room, and full bath. Alley parking for downstairs unit, and free street parking for upstairs. Located just blocks from downtown Olympia, parks, restaurants, Swantown Marina, and the farmers market. Mixed-use zoning is perfect for a live/work lifestyle. Zoning would also allow commercial, so you could live upstairs and run a business from the main floor! Buyer to verify all possible uses. Preferred lender incentive available.

1128 State Avenue NE, Olympia

Listing courtesy of Redfin.

$3,625,000

2552161 MLS ⋅ ACTIVE Status

Exceptional opportunity to acquire 4 brand-new duplexes in highly desirable West Olympia. Built for long-term, low-maintenance ownership, these turnkey investment properties offer modern construction with minimal capital expenditure concerns for years to come. Located in a strong rental market characterized by high demand, low vacancy rates, and attractive rental income potential, these duplexes are well-positioned for consistent cash flow and long-term appreciation. Situated at the end of a private dead-end street, the properties offer a quiet setting that appeals to quality tenants while remaining conveniently close to major employers, shopping, schools, and commuter routes. Whether you're looking to expand your portfolio or complete a 1031 exchange, this is a rare opportunity to invest in newly constructed multifamily assets in one of Olympia's most sought-after rental locations.

1624 Decatur Street SW, Olympia

Listing courtesy of Capitol Real Estate LLC.

$1,625,000

2545999 MLS ⋅ ACTIVE Status

Exceptional opportunity to acquire 2 brand-new duplexes in highly desirable West Olympia. Built for long-term, low-maintenance ownership, these turnkey investment properties offer modern construction with minimal capital expenditure concerns for years to come. Located in a strong rental market characterized by high demand, low vacancy rates, and attractive rental income potential, these duplexes are well-positioned for consistent cash flow and long-term appreciation. Situated at the end of a private dead-end street, the properties offer a quiet setting that appeals to quality tenants while remaining conveniently close to major employers, shopping, schools, and commuter routes. Whether you're looking to expand your portfolio or complete a 1031 exchange, this is a rare opportunity to invest in newly constructed multifamily assets in one of Olympia's most sought-after rental locations.

1620 Decatur Street SW, Olympia

Listing courtesy of Capitol Real Estate LLC.

$665,000

2548425 MLS ⋅ ACTIVE Status

PRICE IMPROVEMENT!! Excellent Location & Strong Investment Opportunity! Well-maintained units in great condition, featuring thoughtful interior updates completed over the past few years. The property benefits from ongoing city road improvements along Fones Road, enhancing accessibility and long-term value. Ideally situated in a close-in location and very close to a freeway exit, this property offers easy commuting and excellent convenience. Enjoy stable and reliable rental income in a highly accessible area. Located within an Opportunity Zone, providing potential tax advantages and appealing estate planning considerations. Owner-occupancy may be possible in Unit A—adding flexibility for investors or owner-users alike. Recent upgrades include: New roof (2025) New water heater Updated flooring Upgraded electrical panel Don’t miss this unique investment opportunity!

1438 SE Fones Rd Unit #A&B, Olympia

Listing courtesy of Kelly Right RE of Seattle LLC.

$634,950

2545983 MLS ⋅ ACTIVE Status

Great investment opportunity! Nestled among a grove of mature trees for exceptional privacy, this well-maintained 2,550 sq ft duplex offers the perfect blend of peaceful living and income potential with scenic views of Pattison Lake. Each spacious unit features 1,275 sqft of comfortable living space with 2 bedrooms, 2 bathrooms, vaulted ceilings, central heat, and an attached one-car garage. Enjoy the beauty of lake living with public access just down the street and a nearby boat launch, making it easy to spend your days fishing, kayaking, or enjoying the water. Tucked away in a quiet neighborhood, this property offers a peaceful retreat while still being conveniently close to schools, shopping, restaurants, and everyday amenities. Whether you're looking to expand your portfolio or invest in a property with strong long-term potential, this duplex offers a rare combination of privacy, location, and lifestyle.

8111 58th Avenue SE, Olympia

Listing courtesy of Keller Williams Rty Tacoma.

$595,000

2543048 MLS ⋅ ACTIVE Status

Here is your opportunity to buy a duplex and become your own landlord, conveniently located on the Westside of Olympia. Both units are 2 beds / 1 bath and feature updated kitchens, appliances, water heaters, windows, and paint. Heat pumps for efficient heating and cooling, as well as real hardwood floors throughout the main living area. Individual garages, large private patios, and an expansive back yard helps this property appeal to the potential tenants of all sorts. Live in one side and have your tenant make half your mortgage payment or rent both, as it would cash flow. HOA maintained common area landscaping. Situated on a quiet dead-end street, this duplex is just minutes from schools, shopping, healthcare, HWY 101, and I5. Great long term tenant in one unit who would like to stay, other being kept vacant for sales purposes.

2015 2017 8th Court SW, Olympia

Listing courtesy of Windermere RE/Himlie.

$819,000

2537956 MLS ⋅ ACTIVE Status

Exceptional opportunity to acquire brand-new duplexes in highly desirable West Olympia. Built for long-term, low-maintenance ownership, these turnkey investment properties offer modern construction with minimal capital expenditure concerns for years to come. Located in a strong rental market characterized by high demand, low vacancy rates, and attractive rental income potential, these duplexes are well-positioned for consistent cash flow and long-term appreciation. Situated at the end of a private dead-end street, the properties offer a quiet setting that appeals to quality tenants while remaining conveniently close to major employers, shopping, schools, and commuter routes. Whether you're looking to expand your portfolio or complete a 1031 exchange, this is a rare opportunity to invest in newly constructed multifamily assets in one of Olympia's most sought-after rental locations.

1610 Decatur Street SW, Olympia

Listing courtesy of Capitol Real Estate LLC.

$819,000

2537959 MLS ⋅ ACTIVE Status

Exceptional opportunity to acquire brand-new duplexes in highly desirable West Olympia. Built for long-term, low-maintenance ownership, these turnkey investment properties offer modern construction with minimal capital expenditure concerns for years to come. Located in a strong rental market characterized by high demand, low vacancy rates, and attractive rental income potential, these duplexes are well-positioned for consistent cash flow and long-term appreciation. Situated at the end of a private dead-end street, the properties offer a quiet setting that appeals to quality tenants while remaining conveniently close to major employers, shopping, schools, and commuter routes. Whether you're looking to expand your portfolio or complete a 1031 exchange, this is a rare opportunity to invest in newly constructed multifamily assets in one of Olympia's most sought-after rental locations.

1614 Decatur Street SW, Olympia

Listing courtesy of Capitol Real Estate LLC.

$470,000

2510651 MLS ⋅ ACTIVE Status

Excellent rent-ready duplex in highly desirable West Side, Cooper Point location. Ideal for investors or buyers looking to live comfortably in while offsetting their mortgage. Each unit is 1,170 SF (including 1-car garage) with 2 bedrooms and 1 bathroom, guest parking on a quiet cul-de-sac. This cozy home features a large galley kitchen, dining room, spacious living room and a one-car garage with a laundry room and washer and dryer hookups. Double pane windows keep the elements at bay while the beautiful natural surroundings create a tranquil atmosphere. Both units are occupied. The first unit (#A) is month-to-month and rented at $1600/month. The second unit (#B) is occupied and rented at $1450/month on a month-to-month lease. Located close to schools, shopping, dining, parks and essential services, with easy access to major routes. Unit A: New septic tank (November 2024). Note: The other two duplexes in the cul-de-sac (4416 and 4420) are also available for sale.

4424 NW Ridgewood Court Unit #A & B, Olympia

Listing courtesy of The Rants Group.

$699,950

2528865 MLS ⋅ ACTIVE Status

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.

1815 Karen Frazier Road SE, Olympia

Listing courtesy of Blue Summit Realty LLC.

$699,950

2528879 MLS ⋅ ACTIVE Status

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.

1819 Karen Frazier Road SE, Olympia

Listing courtesy of Blue Summit Realty LLC.

$699,950

2528804 MLS ⋅ ACTIVE Status

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.

1823 Karen Frazier Road SE, Olympia

Listing courtesy of Blue Summit Realty LLC.

$484,000

2510603 MLS ⋅ ACTIVE Status

Duplex Investment Opportunity in Olympia! Well-located duplex in the Cooper Point area offering flexibility for both investors and owner-occupants. This single-story property features two 2-bedroom, 1-bath units, each approximately 904 square feet, for a total of 1,808 square feet of living space. Unit A is currently occupied, providing immediate rental income, while Unit B is vacant and available for occupancy or lease-up. Each unit includes a functional layout with kitchen appliances (range/oven, refrigerator, dishwasher) and comfortable living spaces. Situated on a spacious ~0.33-acre lot in a cul-de-sac setting, the property offers a residential environment with convenient access to local amenities, services, and transportation routes. List of Recent Improvements: Re-roof (2025) Unit A: Refinished shower (April 2025), Unit A: New dryer (November 2024) Unit A: new kitchen appliances (November 2024) Unit B: New kitchen appliances (November 2025) Unit B: New carpets and vinyl (October 2024) Note: The other two duplexes in the cul-de-sac (4420 and 4424) are also available for sale.

4416 Ridgewood Court NW Unit #A & B, Olympia

Listing courtesy of The Rants Group.

$499,950

2517453 MLS ⋅ ACTIVE Status

RARE OLYMPIA INVESTMENT + DEVELOPMENT OPPORTUNITY! Two 2-bedroom, 1-bath rental homes PLUS a separate adjacent 5,779 sq. ft. building lot—all offered together at $499,950. Live in one, rent both, or explore future development possibilities while maintaining existing rental income. 523 Boulevard Rd SE is 769 sq. ft., built in 1962, and features a newer roof, siding and flooring. It was rented for $1,670/month. 521 is 839 sq. ft., built in 1965, and offers additional upside with some TLC; current rent is well below market at $787.50/month on a month-to-month basis. Each home includes a carport. The adjacent lot offers exciting potential for investors and developers. Explore building while retaining rental income, or investigate condominiumization or short-plat possibilities for individual resale. Alley access may provide additional flexibility (buyer to verify). Each lot is approximately 5,779 sq. ft. and zoning allows 4–8 units per acre. Commercial zoning is nearby on the other side of the street. Recent property-management inspections are available upon request. Combined square footage of both residences is reflected in the listing. Taxes: $4,658.11 for 521/523 and $1,824.27 for the additional lot. Please do not disturb tenants. Interior viewing of 521 upon mutual acceptance. Two homes. Two lots. Existing income. Future potential—all for $499,950!! The cap rate, GSI, etc., are based on unit 521 being rented at the same amount as 523.

521 & 523 Boulevard Road SE, Olympia

Listing courtesy of Keller Williams Realty PS.

$795,000

2513663 MLS ⋅ ACTIVE Status

Solid investment opportunity in West Olympia! This fully occupied duplex features two spacious 3BD/2.5BA units with strong rental income. Solid 4.12% cap rate makes this an attractive addition to any investment portfolio. Both units tenant occupied — please do not disturb tenants. Showings following accepted offer.

3145 5th Avenue NW, Olympia

Listing courtesy of Pacific Residential Brokers.

$1,900,000

2513658 MLS ⋅ ACTIVE Status

Exceptional investment opportunity in West Olympia! This 4-plex features four spacious 3BD/2.5BA townhome-style units built in 2015. Each unit offers modern finishes, in-unit washer/dryer, stainless appliances, granite counters, and a 2-car garage. Strong rental income. 4.58% cap rate. Please do not disturb the tenants. Showings will be provided following an offer.

517 Oso Berry Street NW, Olympia

Listing courtesy of Pacific Residential Brokers.

$998,000

2481889 MLS ⋅ ACTIVE Status

Unique Investor or Developer Opportunity in Downtown Olympia! Don't miss this one! Listing includes a duplex and 7-plex on one parcel and a leased parking lot. Under market rents, all tenants on month to month tenancy. Units offer a mix of studios and one-bedrooms. Parking spots lease for $30/mo with over 20 stalls! Close to downtown, waterfront, and shopping. Zoned UR (Urban Residential), allows for high-rise redevelopment or mixed-use opportunities!

906 908 Adams Street SE, Olympia

Listing courtesy of Olympic Sotheby's Int'l Realty.

$429,950

2480270 MLS ⋅ ACTIVE Status

Opportunity knocks with this side by side duplex located on a quiet dead end road. Each unit offers a simple, functional layout with 2 bedrooms, 1 bathroom on one side and 1 bedroom 1 bathroom on the other side. They each have dedicated carport plus additional parking. Excellent location—close to shopping, the town center, and everyday conveniences. Commuters will appreciate the easy access to the bus line and nearby freeways. **The one bedroom unit is vacant and available for showing, or owner occupancy options**

1512 1514 Fones Road SE, Olympia

Listing courtesy of Better Properties N. Proctor.

$710,000

2453019 MLS ⋅ ACTIVE Status

Great opportunity to add to your investment portfolio, offering potential for instant cash flow. This 2007 duplex features 2 townhomes, each w/2 bedrooms & 2.5 bathrooms. One unit includes a two-car garage, while the other offers a one-car garage w/additional storage; both units have driveway parking & private backyards. The homes offer thoughtfully designed open concept floor plans perfect for entertaining, w/soaring 18 ft. living room ceilings, gas fireplaces, & abundant natural light throughout each home. Incredible location making these a commuter's dream, close to schools, parks, groceries, gas stations, countless eateries & entertainment. Perfect first-time real estate investment.

420 Bungalow Drive NW, Olympia

Listing courtesy of RE/MAX Parkside Affiliates.

$1,750,000

2339340 MLS ⋅ PENDING Status

Exceptional opportunity to own a fully leased 11-unit transitional housing property in the heart of Olympia, generating a strong $148,073 in annual NOI. Spread across three buildings, this triplex-configured asset delivers consistent performance with long-term tenancy and stable returns. Features include shared laundry and ample off-street parking—enhancing tenant retention in this central location. Residents benefit from close proximity to shopping, dining, and transit. This is an ideal acquisition for impact-focused buyers or investors seeking immediate cash flow and long-term potential. Don’t miss this rare opportunity to own a high-performing asset in one of Olympia’s most accessible neighborhoods.

3532 Mary Elder Road NE, Olympia

Listing courtesy of COMPASS.

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