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.
Active
Listed by: Capitol Real Estate LLC • Justin W Hjelm
$3,625,000
1624 Decatur Street SW, Olympia, WA 98502
24beds
24baths
11,856sqft
Multi Family
Built in 2026
-- sqft lot
$-- Zestimate®
$306/sqft
$-- HOA
What's special
Brand-new duplexesPrivate dead-end street
- --
- on Zillow
- 69
- views
- 0
- saves
Zillow last checked:
Listing updated:
Listed by:
Justin W Hjelm,
Capitol Real Estate LLC
Source: NWMLS as distributed by MLS GRID,MLS#: 2552161
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 24
- Bathrooms: 24
Heating
- Forced Air, Heat Pump, Electric
Cooling
- Heat Pump
Features
- Flooring: Vinyl, Carpet
- Has fireplace: No
Interior area
- Total structure area: 11,856
- Total interior livable area: 11,856 sqft
Property
Parking
- Total spaces: 16
- Parking features: Garage
- Garage spaces: 8
- Uncovered spaces: 8
Lot
- Size: 0.52 Acres
- Features: Paved
Details
- Parcel number: 38703301000
- Zoning description: Jurisdiction: City
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Architectural style: 5-9 Units
- Property subtype: Multi Family
Materials
- Cement Planked, Cement Plank
- Foundation: Poured Concrete
- Roof: Composition
Condition
- Under Construction
- New construction: Yes
- Year built: 2026
Utilities & green energy
- Electric: Company: PSE
- Sewer: Sewer Connected, Company: City of Olympia
- Water: Public, Company: City of Olympia
- Utilities for property: Comcast/Infinity, Comcast/Infinity
Community & HOA
Community
- Subdivision: Westside
Location
- Region: Olympia
Financial & listing details
- Price per square foot: $306/sqft
- Tax assessed value: $86,400
- Annual tax amount: $21,250
- Date on market: 7/9/2026
- Listing terms: Conventional
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 7/9/2026 | Listed for sale | $3,625,000$306/sqft |
Source:  NWMLS as distributed by MLS GRID #2552161 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $921 +24.3% | $86,400 +23.6% |
| 2024 | $741 +147.1% | $69,900 +151.4% |
| 2023 | $300 -50.1% | $27,800 -53.2% |
| 2022 | $601 +5.7% | $59,400 +26.7% |
| 2021 | $569 -7.3% | $46,900 |
| 2020 | $614 +34.7% | $46,900 +15.2% |
| 2019 | $456 -49.6% | $40,700 +11.8% |
| 2018 | $905 +5.5% | $36,400 -52.3% |
| 2017 | $857 | $76,350 +9.9% |
| 2016 | $857 | $69,450 +2.1% |
| 2014 | $857 -0.8% | $68,050 |
| 2007 | $865 -19.9% | -- |
| 2006 | $1,079 +53.7% | -- |
| 2005 | $702 | -- |
| 2002 | -- | -- |
| 2001 | $550 -0.4% | $35,000 |
| 2000 | $553 | $35,000 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: South Westside
Nearby schools
Schools provided by the listing agent
- Elementary: Hansen Elementary
- Middle: Marshall Middle
- High: Capital High
Source: NWMLS as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
- $1,625,00012 bd12 ba5.9k sqft1620 Decatur St SW, Olympia, WA 98502New Construction
- $819,0006 bd6 ba2.9k sqft1614 Decatur St SW, Olympia, WA 98502New Construction
- $819,0006 bd6 ba2.9k sqft1610 Decatur St SW, Olympia, WA 98502New Construction
- $349,0002 bd2 ba1.1k sqft1516 Decatur St SW APT 110, Olympia, WA 98502Sold
