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Listing provided courtesy of Blue Summit Realty LLCNWMLSas Distributed by MLSGrid- MLS# NWM2528865MLS Provider

1815 Karen Frazier Road SEOlympia, WA 98501

Multi-Family · 5 Beds · 2,207 Sq. ft. | 0.12 Acres
$699,950 Active

1815 Karen Frazier Road SE Overview

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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.

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1815 Karen Frazier Road SE Facts & Features

  • Type Multi-Family
  • Sq. ft. 2,207
  • Price/Sq.ft. $317
  • Lot 0.12 Acres

Details

General

Association/HOA

  • Association Fee: $0.00

School Information

  • School District: Olympia

Income/Expenses

  • Other Expense: 0
  • Electric Expense: 0
  • Fuel Expense: 0
  • Gross Scheduled Income: 52428
  • Insurance Expense: 1350
  • Net Operating Income: 41355
  • Total Expenses: 11073
  • Total Monthly Income: 4324
  • Water/Sewer/Garbage: 1920

Building Information

  • New Construction: No
  • Year Built: 2022

Location/Region

  • Country: US
  • County Or Parish: Thurston
  • MLS Area Major: 448 - Olympia South
  • Subdivision Name: Olympia

Tax Information

  • Tax Annual Amount: $7,803.00
  • Tax Year: 2026

General Information

  • Listing Terms: Cash, Conventional, VA Loan
  • Parcel Number: 76000600107
  • Possible Use: Residential
  • Property Condition: Very Good
  • Property Sub Type: Multi Family
  • Property Type: Residential Income
  • Senior Community: No
  • Special Listing Conditions: None

Interior

Parking Information

  • Garage Spaces: 2

Beds/Baths

  • Bedrooms Upper: 0

Building Interior

  • Building Area Total: 2207
  • Building Area Units: Square Feet
  • Calculated Square Footage: 2207
  • Square Footage Finished: 0
  • Square Footage Unfinished: 0

General Information

  • Cooling: Yes
  • Fireplace: No
  • Fireplaces Total: 0
  • Flooring: Vinyl Plank
  • Foundation Details: Poured Concrete
  • Heating: Yes
  • Leasable Area: 2207
  • Living Area: 0
  • Main Level Bathrooms: 0
  • Power Production Type: Electric
  • Security Features: Partially Fenced
  • Stories Total: 2

Exterior

Parking Information

  • Open Parking: No
  • Parking Total: 4
  • Parking Uncovered Total: 2

Lot Information

  • Irrigation Water Rights: No
  • Lot Features: Curbs, Paved, Sidewalk
  • Lot Size Acres: 0.1182
  • Lot Size Square Feet: 5150
  • Lot Size Units: Square Feet
  • Site Features: Cable TV, Fenced-Partially, High Speed Internet, Patio
  • Elevation Units: Feet

Waterfront/View

  • View: No
  • Waterfront: No

Building Exterior/Construction

  • Roof: Composition
  • Structure Type: Duplex

General Information

  • Carport Spaces: 0
  • Carport: No
  • Covered Spaces: 2
  • Exterior Features: Cement/Concrete, Wood, Wood Products
  • Number Of Units Total: 2
  • Sewer: Sewer Connected

Unit Information

Unit 2 Details

  • Actual Rent: 1917
  • Beds Total: 2
  • Baths Total: 1

Unit 1 Details

  • Actual Rent: 2452
  • Beds Total: 3
  • Baths Total: 2

1815 Karen Frazier Road SE Neighborhood

Community

98501 (Tumwater) Demographics

39
Median Age
1,220
Population Density (per sq. mile)
55%
College Educated
$78,324
Estimated Median Income
10,333
Estimated Total Home Owners
7,364
Estimated Total Renters
58% / 42%
Estimated Owner / Renter Divide
2
Estimated Average Household Size
Community data courtesy of LiveBy, Inc.

Schools

School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

1815 Karen Frazier Road SE Monthly Cost

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* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

1815 Karen Frazier Road SE Market Data

Based on the last 30 days in this zip code

$644,885
Average List Price
$291
Average Price per Square Foot
52
Properties Sold
67
Average Days on Market
199
Properties for Sale
Calculations provided by Reliance Network

1815 Karen Frazier Road SE History

Date Event Value Agent
5/23/2026Source: NWMLS Added to Database
May 23, 2026