915 Capitol Way S
Olympia WA 98501
915 Capitol Way South
915 Capitol Way S Olympia WA 98501
Listing #: 679763 | Status: Available | Last Modified: 4/17/2024 |
For Sale
- Phone:(206) 226-6200
- Email:pat@urbanseattle.com
- Office Name:Urban Commercial Partners, LLC
- Office Phone:(206) 325-9333
- Office Website:
- Call Listing AgentNo
- Use DiscretionNo
- Listing Price$ 4,350,000.0
- $/SF$ 183.7
- $/Unit$ 4,350,000.0
- Listing StatusAvailable
- Days on Market38
- Asset ClassRetail, Multi-Family
- Terms
- Investment Type
- Investment PropYes
- Gross Income443,750
- Vacancy Factor %4.00%
- Operating Expenses194,184
- Net Operating Income231,816
- CAP Rate 5.74 %
- Min Total SF0
- Max Total SF0
- Lease Rate Low$ 00.0
- Lease Rate High$ 00.0
- Heat Source
- Total Units
- Water
- Electricity
- Storm Sewer
- SignageSignage on Building and Freestanding
- Anchor
- Crane Count
- Crane Tonnage0
- Clearance Height Min
- Clearance Height Max
- Bay Depth
- Second Road Front
- Grade Level Door Count
- Tennant Improvement Allowance
- CAP Rate 5.74 %
- Building StatusExisting
- # of Buildings1
- # of Floors2
- # of Units34
- # of Elevators0
- Clearance Height Min
- Clearance Height Max
- Bay Depth
- Total Building SF23677
- Net Rentable Area23677
- Total Office SF
- Largest Contiguous SF
- Lot SF17424
- Acres0.4
- Property TypeMulti-Family
- Office Type
- Building Class
- CountyThurston
- Vicinity
- Location Description
- Second Address
- Cross Street
- Market AreaOlympia
- Tax ID #78506500002
- Additional Parcels
- ZoningDB
- Year Built1929
- Year Renovated
- Completion Date
- Roof Type
- Construction Type
Olympia Court Apartments
We are pleased to present this Downtown Olympia multi-family portfolio as available for sale for the first time in 20+ years. The offering consists of 2 contiguous properties - Olympia Court Apartments and The Anderson House. There are 34 Total Units, including (19) Studios, (12) 1 bed/1 bath units, (1) 2 bed/1 bath unit and (2) retail storefronts with frontage on popular Capitol Way South. Properties have been locally owned, operated and meticulously maintained for 20+ years. Just steps to the Capital Campus, tenants enjoy outstanding walkability to restaurants, shops, entertainment and necessities. Extremely high historic occupancy with significant upside potential via rent increases and utility charges.
