503 Devoe Street NE in Olympia

Great opportunity to acquire a freshly remodeled duplex in excellent condition with tremendous income producing potential with a CAP rate of 7.49%!!!! That is an incredible CAP rate. 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 2 bedrm 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 of 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, while keeping that rural feel of living in the country!

This listing is provided courtesy of NWMLS.
Listing Broker: Capitol Real Estate LLC; Keenan French.

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