Date
Details
Price
Change
Source
9/03/2026
Listed
$1,450,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
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$1,450,000 Just Listed
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Property Description
Discover a rare 1.3-acre dual-parcel legacy estate in coveted South Bay Terrace. This 3,329-SF luxury home offers ~160 feet of low-bank saltwater frontage, a private bulkhead, and sweeping views across serene Henderson Inlet, up through Dana Passage. Ideally located near Boston Harbor and Woodard Bay Conservation Area, this sanctuary offers unrivaled access to Puget Sound's most beautiful protected waters. Designed to frame the water from nearly every room, the home features a gourmet chef's kitchen with granite countertops, hardwood finishes, a professional Viking range, and premium KitchenAid appliances. Expansive living areas are filled with natural light, while the daylight basement offers flexible space for multi-generational living, a home theater, or alfresco entertaining with direct access to the waterfront grounds. The finished garage features epoxy flooring with ample hobby-craft space. Fully landscaped grounds include new premium wood and wrought iron fencing, a vegetable garden, and a private orchard with mature apple, pear, and cherry trees. The children's area ensures fun for all. Rare, grandfathered assets include a floating boat dock and fully owned tidelands-providing exceptional privacy. A brand-new architectural roof and professionally permitted Generac standby generator with a 240-gallon propane system provide lasting peace of mind-whatever the season. Only minutes from Olympia's dynamic urban core, this is truly an incomparable waterfront property.
Full Property Details
Full Property Details for 5508 S Bay Terrace Dr NE
General
- Price: $1,450,000
- Taxes: $10,563 (2026)
- Status: Active
- Type: Single Family
- Source: NWMLS
- MLS ID: 2572068
- Updated: 9/3/2026
- Added to Site: 2 day(s) ago
Interior
- Interior Features: Second Kitchen, Bath Off Primary, Fireplace, Pantry, Security System, Water Heater, Wine/Beverage Refrigerator, Wired for Generator
- Fireplace: Yes
- Number of Fireplaces: 2
- Fireplace(s): Gas
- Appliances: Dishwasher(s), Double Oven, Dryer(s), Microwave(s), Refrigerator(s), Stove(s)/Range(s), Washer(s)
- Flooring: Vinyl, Carpet
Rooms
Bathrooms
- Total Bathrooms: 3
- Full Bathrooms: 2
- 3/4 Bathrooms: 1
- Main Floor Baths: 2
- Lower - 3/4 Baths: 1
Bedrooms
- Total Bedrooms: 3
- Bedrooms Main: 3
Additional Information
- Amenities: Deck, Dock, Fenced-Partially, Gated Entry, Outbuildings, Outdoor Fireplace, Patio, Propane, RV Parking
- Security/Safety: Partially Fenced, Security Gate, Security System
Parking
- Garage: Yes
- Attached garage: Yes
- Covered Spaces: 2
- Parking Features: Driveway, Attached Garage, RV Parking
Location
- Area: 445 - Boston Harbor
- County: Thurston
- Subdivision: Henderson Inlet
- Driving Directions: GPS shows location: From I-5, exit to North on Sleater Kinney, right on 54th Ave SE into South Bay Terrace community. Road bends left to South Bay Terrace Drive. Home on waterside/right.
- Direction Faces: West
School Information
- High School District: North Thurston
Heating & Cooling
- Air Conditioning: Yes
- Cooling Type: Heat Pump
- Heating Type: 90%+ High Efficiency, Forced Air, Heat Pump
- Water Heater: Electric
Utilities
- Sewer: Septic Tank
- Water: Community
Structural Information
- Structure Type: House
- Exterior Const.: Wood
- Basement Desc.: Daylight
- Foundation: Poured Concrete
- Roof: Composition, See Remarks
- Square Feet: 3,329
- Finished Total: 3,329 Sq. Ft.
- Year Built: 1968
- Property Condition: Good
Lot Features
- Property View: Bay, Sound, Territorial
- Lot Size (Acres): 1.3
- Lot Size (Sq. Ft.): 56,628
- Lot Size Source: Public Record-2 lots
- Topography: Partial Slope, Terraces
- Lot Features: Dead End Street, Paved, Secluded
- Trees/Vegetation: Fruit Trees, Garden Space
Water Features
- Water Front: Yes
Financial Considerations
- Tax Amount: $10,563
- Tax Year: 2026
- Terms: Cash, Conventional, FHA, VA Loan
Disclosures and Reports
- Special Conditions: None
- Inclusions: Dishwasher(s), Double Oven, Dryer(s), Microwave(s), Refrigerator(s), Stove(s)/Range(s), Washer(s)
- Property ID: 75400000400
Listed by James Clerget | Realty One Group Bold | (360) 634-8600
We Value Your Privacy
We Value Your Privacy
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NMLS#: 1598647
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Schools
Schools serving 5508 S Bay Terrace Dr NE
School District:North Thurston Public Schools
| Name | Grades | Distance |
|---|---|---|
South Bay Elementary School 3845 Sleater Kinney Rd NE, Lacey, WA 98506 | K-5 | 1.8 mi |
Chinook Middle School, Lacey, WA 4301 6th Ave NE, Lacey, WA 98516 | 6-8 | 4 mi |
North Thurston High School 600 Sleater Kinney Rd NE, Lacey, WA 98506 | 9-12 | 4.1 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 5508 S Bay Terrace Dr NE
Estimate the Cost
Estimate the Cost for 5508 S Bay Terrace Dr NE
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5508 South Bay Terrace Drive NE, Olympia, WA 98516 (MLS# 2572068) is a Single Family property with 3 bedrooms, 2 full bathrooms and 1 partial bathroom. 5508 South Bay Terrace Drive NE is currently listed for $1,450,000 and was received on September 03, 2026. Want to learn more about 5508 South Bay Terrace Drive NE? Do you have questions about finding other Single Family real estate for sale in Olympia? You can browse all Olympia real estate or contact a Coldwell Banker agent to request more information.