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$3,625,000 Just Listed

  • For Sale
  • Active
  • Multi-Family
  • 8 Car Garage
  • Updated 20 hours ago

Listed by Justin W Hjelm | Capitol Real Estate LLC | (360) 489-6439

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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.

Full Property Details for 1624 Decatur St SW

General

  • Price: $3,625,000
  • Taxes: $21,250 (2026)
  • Status: Active
  • Type: Multi-Family
  • Source: NWMLS
  • MLS ID: 2552161
  • Updated: 7/9/2026
  • Added to Site: 2 day(s) ago

Interior

  • Flooring: Vinyl, Carpet

Parking

  • Garage Spaces: 8
  • Covered Spaces: 8
  • Uncovered Spaces: 8

Location

  • Area: 444 - Olympia Westside
  • County: Thurston
  • Subdivision: Westside
  • Driving Directions: Black Lake Blvd, East on 9th, Right on Decatur St to property on the left.

School Information

  • High School District: Olympia
  • Elementary School: Hansen Elementary
  • Middle School: Marshall Middle
  • High School: Capital High

Heating & Cooling

  • Air Conditioning: Yes
  • Cooling Type: Heat Pump
  • Heating Type: Forced Air, Heat Pump

Utilities

  • Sewer: Sewer Connected
  • Water: Public

Structural Information

  • Structure Type: Multi Family
  • Construction Status: Under Construction
  • Exterior Const.: Cement Planked
  • Foundation: Poured Concrete
  • Roof: Composition
  • Stories in Building: 2
  • Square Feet: 11,856
  • Year Built: 2026
  • Property Condition: Under Construction

Unit Information

  • Units in Building: 8

Lot Features

  • Lot Size (Acres): 0.5239
  • Lot Size (Sq. Ft.): 22,820
  • Lot Size Source: County
  • Lot Features: Paved

Financial Considerations

  • Tax Amount: $21,250
  • Tax Year: 2026
  • Terms: Cash, Conventional

Disclosures and Reports

  • Special Conditions: None
  • Property ID: 38703301000

Listed by Justin W Hjelm | Capitol Real Estate LLC | (360) 489-6439

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Schools serving 1624 Decatur St SW

School District:Olympia School District
NameGradesDistance
Julia Butler Hansen Elementary School
1919 Road 65 Northwest, Olympia, WA 98502
K-52.5 mi
Olympia Regional Learning Academy B
2400 15th Avenue Southeast, Olympia, WA 98501
K-52.6 mi
Thurgood Marshall Middle School
3939 20th Avenue Northwest, Olympia, WA 98502
6-82.4 mi
Capital High School
2707 Conger Avenue Northwest, Olympia, WA 98502
9-121.3 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 1624 Decatur St SW Get Price Alerts and Save Property

Date
Details
Price
Change
Source
7/09/2026
Listed
$3,625,000
4363.3%
MLS
1/06/2021
Sold
$81,218
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 1624 Decatur St SW

Year
Property Taxes
Change
Tax Assessment
Change
2026
$921
24%
$86,400
24%
2025
$741
147%
$69,900
151%
2024
$300
-50%
$27,800
-53%
2023
$601
-2%
$59,400
27%
2021
$614
12%
$46,900
15%
2020
$547
20%
$40,700
12%
2019
$456
-50%
$36,400
-46%
2018
$905
-6%
$66,900
-12%
2017
$961
13%
$76,350
10%
2016
$850
-1%
$69,450
2%
2015
$857
-2%
$68,050
—
2014
$877
—
$68,050
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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Listed by Justin W Hjelm | Capitol Real Estate LLC | (360) 489-6439

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1624 Decatur Street SW, Olympia, WA 98502 (MLS# 2552161) is a Multi-Family property with 8 units containing 0 bedrooms and 0 full bathrooms. 1624 Decatur Street SW is currently listed for $3,625,000 and was received on July 09, 2026. Want to learn more about 1624 Decatur Street SW? Do you have questions about finding other Multi-Family real estate for sale in South Westside? You can browse all South Westside real estate or contact a Coldwell Banker agent to request more information.

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