Thurston WA Multi-Family Real Estate, Homes for Sale

Fantastic opportunity - duplex offering 2 spacious units- each 3-bedroom, 1.5-bath, complete with an attached 1-car garage and a LARGE fully fenced private backyard—providing the feel of a single-family home for each resident. The roof is approximately 7 years old, offering added peace of mind. Unit A has been tastefully updated and tenant occupied, while Unit B is currently vacant, creating an excellent opportunity to select your own tenant or occupy one unit while generating rental income from the other. Inside, you'll find new flooring, spacious kitchens with eating areas, cozy fireplaces, bright living rooms, and large windows that fill each home with natural light. Generously sized bedrooms, functional floor plans, and ample storage make these units highly desirable. Ideally located in a convenient commuter-friendly area close to schools, parks, shopping, restaurants, and everyday amenities, with quick access to JBLM and major highways. Whether you're looking to expand your investment portfolio, live in one unit while offsetting your mortgage with rental income, or add a quality duplex to your holdings, this well-maintained property offers exceptional flexibility, value, and long-term potential. You won't want to miss this opportunity!

333 Choker Street SE Unit #A&B, Lacey

Listing courtesy of Skyline Properties, Inc..

$680,000

2558449 MLS ⋅ ACTIVE Status

Opportunity meets flexibility in this well-maintained, rent-ready duplex located in a great Tumwater location! Each spacious unit offers 1,487 square feet, featuring 3 bedrooms, 2.5 bathrooms, a one-car garage, and additional parking, & fully fenced backyards. Thoughtfully designed floor plans provide plenty of living space, making them attractive to owner-occupants, and tenants alike. This property has seen significant recent improvements, including a brand-new roof, new furnaces and water heaters in both units, refreshed landscaping, and new carpet and LVP flooring in the vacant unit. These upgrades help minimize near-term maintenance expenses while providing peace of mind for years to come. The vacant unit (#7041) is move-in ready and offers immediate flexibility, whether you choose to occupy it yourself or capitalize on current market rents. The neighboring unit (#7039) is currently leased at $2,200 monthly and goes month to month on 10/1/26 creating reliable income today while preserving future options. Ideally situated near schools, shopping, dining, parks, and everyday essentials, with convenient access to major commuting routes, this duplex benefits from a location that continues to attract strong tenant demand. Whether your goal is generating cash flow, reducing housing costs, building equity, or growing your investment portfolio, this versatile property offers the rare combination of immediate income, major capital improvements in the sought-after Tumwater market.

7039 7041 Lazy Court SW, Tumwater

Listing courtesy of Epic Realty.

$487,777

2554345 MLS ⋅ ACTIVE Status

Turnkey rental income with immediate cash flow: Well maintained Olympia duplex offering an opportunity for investors, owner-occupants or multi-generational living. Conveniently located near Capital Mall, Evergreen State College, schools, grocery stores, restaurants, medical services, and major commuter routes. Bus stop located nearby for easy transit access. Situated on a 0.25-acre corner lot, each unit enjoys private living spaces, classic charm, separate fenced yard areas, lots of dedicated parking, washer and dryer, and outdoor space for gardening, pets, or recreation. Unit A features 2 bedrooms and 1 bathroom, while Unit B offers 1 bedroom plus bonus room/office, high ceilings and 1 bathroom, creating flexibility for a variety of tenants or owner-occupant needs. Floorplan available in photos. Fresh landscaping and ongoing owner maintenance have kept these units hassle-free. Positioned in Olympia's westside with convenient access to downtown Olympia, Highway 101, I-5 connections, military base JBLM, parks, shopping, and employment centers. This area has consistent rental demand due to nearby colleges, government employment, healthcare facilities, and regional employers. Add this well-located duplex to your investment portfolio or offset housing costs by occupying one unit while generating rental income from the other. Buyer to verify all.

1954 Division Street NW, Olympia

Listing courtesy of Paramount Real Estate Group.

$529,000

2555802 MLS ⋅ ACTIVE Status

Great rental potential in the coveted Bigelow neighborhood! Formerly a fully rented duplex, the current owners converted to SFR. Easily converted back to a duplex just by adding door by the living room to create a separate upstairs unit. Upstairs back room is still plumbed for a full kitchen, and you could add a ductless washer/dryer to the space for full functionality. Downstairs has a completely remodeled kitchen with smart appliances (combo oven with convection/steam/air fryer options and gas range with voice-activated hood!), butcher block counters, and USB outlets, large laundry/mud room, bedroom with walk-in closet, and full bath. Upstairs has a large living room with seasonal views of the capital dome, a bedroom, a potential kitchen/dining room, and full bath. Alley parking for downstairs unit, and free street parking for upstairs. Located just blocks from downtown Olympia, parks, restaurants, Swantown Marina, and the farmers market. Mixed-use zoning is perfect for a live/work lifestyle. Zoning would also allow commercial, so you could live upstairs and run a business from the main floor! Buyer to verify all possible uses. Preferred lender incentive available.

1128 State Avenue NE, Olympia

Listing courtesy of Redfin.

$799,900

2553735 MLS ⋅ ACTIVE Status

2 duplexes for a total of 4 rentals. Built in 2009, each has approx 800 sq.ft.. Great rental history. Each unit is 2 bdrms/1 bath and have electric fireplaces. Efficient design, EZ to maintain. Recent new roof on each building. Single car garages plus outside parking. Located offstreet on a private cul-de-sac. Just 5 minutes to I-5 access at exit 88. EZ commute to Olympia or Centralia. Short distance to restaurants. About 15 minutes to the gaming, restaurants and lounges at the Lucky Eagle Casino. Shopping at Safeway in Centralia less than 6 miles away or Costco in Tumwater just 20 minutes. Scheduled monthly income is $4,975. Only 1 unit is rented at market rate. All others are far below market and ample room for rent increases. Strong demand for rentals in this region. Purchasers Financial capability info needed for interior inspections.

6521 201st, Rochester

Listing courtesy of Dream Weavers Inc..

$829,990

2553422 MLS ⋅ ACTIVE Status

Rare find: 3 homes on 1.67 private acres. Perfect scenario for multi-generational living. Investor: It's a fantastic income producing property too. The main home is a custom 2,206sf rambler with delightful kitchen & Living room. Main bedroom w/ gorgeous bath & private patio. Another bedrm & 2 bonus rooms share a 2nd upgraded bath. Hardi plank exterior, metal roof, wood stove, heat pump, skylights, wood flrs, vaulted ceilings. Covered front porch & 2 covered decks in back. One owner/immaculate condition. Second home is 2 story, 1,160sf w/ large entry portico. Open concept kitchen, living &dining rooms. Main level bdrm, 3/4 bath & finished room on upper level. Furnace, mini split A/C, storage areas inside & out, private access to Pool. Third home is a sweet 360sf cottage. Functional & beautiful kitchen, living areas, 1bed, 3/4 bath. Mini split w/ A/C, granite counters, vinyl plank flrs, covered porch, Hardi plank exterior/metal roof. Main garage is 624sf w/shelving & attic storage. Water supply from private well. Fenced in 1,332sf concrete patio surrounds inground heated swimming pool w/solar & winter covers. Property is equipped w/ extensive underground sprinkler system. Oversized greenhouse, 18'x36', raised beds, fans, automated sprinklers. Fenced garden area, 21+ raised beds w/ automatic drip system...all organic. Several other outbuildings for storage &wood shed. No HOA fees. Close to shopping/amenities. JBLM is an easy commute. Don't miss this opportunity!

14913 Champion Estates Drive SE, Yelm

Listing courtesy of Yelm Windermere.

$3,625,000

2552161 MLS ⋅ ACTIVE Status

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.

1624 Decatur Street SW, Olympia

Listing courtesy of Capitol Real Estate LLC.

$1,100,000

2550741 MLS ⋅ ACTIVE Status

The Lacey 8 is an eight-unit apartment property in one of the South Sound’s most stable rental markets, offered as a true value-add opportunity. The property is made up of four two-bedroom/one- bathroom units and four one-bedroom/one-bathroom units, a mix that rents well and stays full. In-place rents are well below market, creating immediate and measurable upside for a new owner. The seller also does not currently bill back utilities, leaving a clear path to additional income through a RUBS or flat-fee utility program. Adding to the appeal, the seller is offering seller financing to qualified buyers at 5% interest-only for five years with 25% down. The property is in solid physical shape, which makes the value-add plan lower risk. It offers 14 on-site parking stalls, an on-site communal laundry facility, and newer roof systems installed with-in the last several years. The electrical panels have been updated throughout, the windows are double-pane vinyl, and the exterior siding is in good condition with no major deferred maintenance. The units are in mixed condition: some are still original, while others have already been moderately renovated with newer LVP flooring. Adding LVP flooring, stainless-steel appliances, in-unit dishwashers, and quartz countertops at turnover can drive both higher rents and long-term value.

5024 18th Avenue SE, Lacey

Listing courtesy of Westlake Associates, Inc..

$1,625,000

2545999 MLS ⋅ ACTIVE Status

Exceptional opportunity to acquire 2 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.

1620 Decatur Street SW, Olympia

Listing courtesy of Capitol Real Estate LLC.

$675,000

2548425 MLS ⋅ ACTIVE Status

PRICE IMPROVEMENT!! Excellent Location & Strong Investment Opportunity! Well-maintained units in great condition, featuring thoughtful interior updates completed over the past few years. The property benefits from ongoing city road improvements along Fones Road, enhancing accessibility and long-term value. Ideally situated in a close-in location and very close to a freeway exit, this property offers easy commuting and excellent convenience. Enjoy stable and reliable rental income in a highly accessible area. Located within an Opportunity Zone, providing potential tax advantages and appealing estate planning considerations. Owner-occupancy may be possible in Unit A—adding flexibility for investors or owner-users alike. Recent upgrades include: New roof (2025) New water heater Updated flooring Upgraded electrical panel Don’t miss this unique investment opportunity!

1438 SE Fones Rd Unit #A&B, Olympia

Listing courtesy of Kelly Right RE of Seattle LLC.

$959,000

2546620 MLS ⋅ ACTIVE Status

LOOKING FOR SMALL BUSINESS SPACE ALONG WITH RENTALS? Rare INCOME PRODUCING Compound on nearly 6 Private Acres 3 INDIVIDUAL HOMES and extensive workshop space set up with BODY SHOP on one side and PAINT BOOTH on the other. Piped for air throughout, and includes compressor, water trap regulators and exhaust fans... - Live here, work here, and have tenant income to help pay the mortgage! Main House UNIT #1: 2478 sq ft - Equipped with a high-efficiency heat pump for year-round comfort & spacious living areas to stretch out in UNIT #2: 1344 Square Feet is independent country living with modern touches - features easy-care flooring throughout this comfortable mobile home with an electric furnace & a bonus woodstove for efficient rustic warmth UNIT #3 is the ultimate workshop hub offering a massive 3360 square foot shop with ample room for tools, hobbies, and classic cars. The one bedroom attached home has a charming interior finished with durable ceramic tile and engineered hardwood flooring, a cozy woodstove & an energy efficient heatpump. Hard to beat this versatile living arrangement: Perfect for extended living, guests, or income-producing rentals. PLUS a 2-Bay Machine Shed ready for your tractors, boats, vehicles, or heavy equipment - Freeze-proof faucets installed across the property for worry-free winters & a private well system equipped with a dedicated water treatment system. Come see it today

6144 Waldrick Road SE, Tenino

Listing courtesy of Realty One Group Bold.

$750,000

2546191 MLS ⋅ ACTIVE Status

Soak up stunning panoramic views from this rare East Bay Harbor three-story tri-level duplex overlooking Puget Sound, the majestic Olympic Mountains, and vibrant Swantown Marina. This one-in-a-million waterfront opportunity in Olympia’s highly sought-after East Bay neighborhood lets you live in one beautifully updated owner’s unit while generating income from the other side—perfect for owner-occupants, investors, or multi-generational living. Step inside the generously appointed owner’s residence featuring modern finishes, an inviting gas fireplace, and stainless steel appliances in the gourmet kitchen. Generous balconies extend off the main living areas and bedrooms for seamless indoor-outdoor living and sweeping water views. Each top level boasts dramatic vaulted ceilings, wrap-around windows, and skylights flooding the spaces with natural light and breathtaking views. Both sides offer exceptional privacy with separate entrances. Each unit features two spacious bedrooms with en-suite bathrooms and generous walk-in closets. Open living areas are perfect for entertaining while enjoying marina views. Highlights include two-car garages per side with extra visitor parking, high-quality construction built in 1997, and unmatched walkability to parks, trails, shopping, dining, and freeways. This peaceful waterfront enclave is a unique gem for primary residence with rental income or turnkey investment. Schedule a private showing today and experience these views for yourself now!!

330 E Bay Drive NE, Olympia

Listing courtesy of Timber Real Estate.

$634,950

2545983 MLS ⋅ ACTIVE Status

Great investment opportunity! Nestled among a grove of mature trees for exceptional privacy, this well-maintained 2,550 sq ft duplex offers the perfect blend of peaceful living and income potential with scenic views of Pattison Lake. Each spacious unit features 1,275 sqft of comfortable living space with 2 bedrooms, 2 bathrooms, vaulted ceilings, central heat, and an attached one-car garage. Enjoy the beauty of lake living with public access just down the street and a nearby boat launch, making it easy to spend your days fishing, kayaking, or enjoying the water. Tucked away in a quiet neighborhood, this property offers a peaceful retreat while still being conveniently close to schools, shopping, restaurants, and everyday amenities. Whether you're looking to expand your portfolio or invest in a property with strong long-term potential, this duplex offers a rare combination of privacy, location, and lifestyle.

8111 58th Avenue SE, Olympia

Listing courtesy of Keller Williams Rty Tacoma.

$635,000

2543712 MLS ⋅ ACTIVE Status

Incredible investment opportunity in Tumwater! Located on a quiet cul-de-sac, this well-maintained townhome-style duplex offers flexibility for investors and owner-occupants alike—live in one unit and rent the other, or lease both for maximum income potential. Each spacious unit features an open-concept floor plan with the kitchen seamlessly flowing into the dining area and living room. Cozy wood-burning fireplaces, durable LVP flooring, and sliding glass doors leading to private back patios create inviting living spaces. The kitchens are equipped with stainless steel appliances and abundant cabinetry, while convenient main-floor half baths add functionality. Upstairs, you'll find two generously sized bedrooms with dual closets and a full bathroom featuring tile flooring and a tub/shower combination. Each unit also includes a utility room and an attached one-car garage, providing additional storage and parking. The backyards are separated by a privacy fence and offer private patios surrounded by mature trees. Recent improvements include a brand-new roof, fresh exterior paint, attic re-insulation, and crawl space cleanout. Ideally located near schools, shopping, dining, and freeway access, this turnkey duplex presents an outstanding opportunity to build wealth through real estate. Don't miss your chance to own this versatile income-producing property!

2209 McIver Court SW, Tumwater

Listing courtesy of Keller Williams Realty PS.

$695,000

2542985 MLS ⋅ ACTIVE Status

Options with this affordable 2003 duplex! Great for rental income, or you can live in one unit and rent the other. Both homes have a large, fenced back yard, Mt. Rainier views, half bath on main level. 3 bedrooms, a full bath and primary en suite bath on second level. Gas range, furnace and water heater. Laundry on main floor with pantry shelves and cupboards. Each unit has a 1 car garage, and covered porches front and back. Conveniently located near by-pass for commutes, and all amenities that Yelm has to offer including schools, restaurants, movie theatre, specialty shops, several parks, lakes, and more. New dishwasher on 735 side, along with light/ceiling fans in bedrooms on 735 side. Homes are ready for your updates and personal touches.

735 Crystal Springs Road NW, Yelm

Listing courtesy of John L. Scott/Yelm.

$710,000

2542110 MLS ⋅ ACTIVE Status

Great Investment Opportunity! Well maintained Duplex. Excellent opportunity to add a proven income producing property to your portfolio. This well maintained duplex has a strong long term rental history Featuring Three bedrooms, two bathrooms per side, plus a one car garage and just minutes from I-5, providing convenient access for commuters. Large private patios, and an expansive back yard helps this property appeal to the potential tenants of all sorts. Don't miss this opportunity to own a quality multifamily investment in a desirable location. Both units are currently rented.

512 N 4th Avenue SW, Tumwater

Listing courtesy of Better Properties - Metro.

$1,350,000

2543213 MLS ⋅ ACTIVE Status

Investor / Developer Opportunity – Approved 7-Lot Short Plat in Growing Lacey Market! Rare development opportunity on 1.28 acres with an existing duplex and enhanced short plat approval in place. Approved civil plans are available through the city, allowing the next owner to move forward with water and sewer extensions, sidewalks, and street tree improvements. The approved project creates a total of 7 separate lots, including: Conversion of the existing duplex into 2 townhouse lots, 5 additional single-family residential lots, 7 total buildable lots Washington State's current housing regulations may allow up to 2 ADUs per lot (buyer to verify), creating the potential for 7 primary residences plus up to 14 ADUs for significant density and income potential. Conveniently located approximately 1.5 miles from I-5, with major retail amenities including Costco and Home Depot nearby. Situated in the rapidly growing city of Lacey, home to approximately 60,000 residents, this property offers an exceptional opportunity for builders, developers, and investors seeking a shovel-ready project in a high-demand market.

8623 Steilacoom Road SE, Lacey

Listing courtesy of eXp Realty.

$610,000

2543048 MLS ⋅ ACTIVE Status

Here is your opportunity to buy a duplex and become your own landlord, conveniently located on the Westside of Olympia. Both units are 2 beds / 1 bath and feature updated kitchens, appliances, water heaters, windows, and paint. Heat pumps for efficient heating and cooling, as well as real hardwood floors throughout the main living area. Individual garages, large private patios, and an expansive back yard helps this property appeal to the potential tenants of all sorts. Live in one side and have your tenant make half your mortgage payment or rent both, as it would cash flow. HOA maintained common area landscaping. Situated on a quiet dead-end street, this duplex is just minutes from schools, shopping, healthcare, HWY 101, and I5. One unit under lease, other being kept vacant for sales purposes.

2015 2017 8th Court SW, Olympia

Listing courtesy of Windermere RE/Himlie.

$819,000

2537956 MLS ⋅ ACTIVE Status

Exceptional opportunity to acquire 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.

1610 Decatur Street SW, Olympia

Listing courtesy of Capitol Real Estate LLC.

$819,000

2537959 MLS ⋅ ACTIVE Status

Exceptional opportunity to acquire 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.

1614 Decatur Street SW, Olympia

Listing courtesy of Capitol Real Estate LLC.

$546,000

2537319 MLS ⋅ PENDING Status

Desirable Tanglewilde side-by-side duplex offering an exceptional owner-occupant or investment opportunity! Each unit features a private one-car garage, large fully fenced yard, and spacious floor plan. Enjoy a generous living room with beautiful real hardwood floors and a cozy gas fireplace. The oversized bathroom includes a double-sink vanity for added convenience. Recent updates include a newer roof -2025, newer windows, and fresh interior paint. Gas hot water tanks and washer/dryer hookups in each garage add to the home's functionality. Conveniently located near shopping, restaurants, schools, and everyday amenities. Live in one unit and rent the other to help offset your mortgage while building equity, or add a solid duplex to your investment portfolio. With attractive features, private outdoor space, and a highly desirable location, this property offers outstanding value and versatility.

7836 3RD Avenue SE Unit #A & B, Olympia

Listing courtesy of 360 Pacific.

$675,000

2537407 MLS ⋅ ACTIVE Status

Great income generating duplex in desirable Horizon Pointe neighborhood. Upstairs unit features 1443 sqft, 3bds, 2ba, primary suite w/private bath and walk-in closet. Fully fenced yard. Downstairs unit offers 919 sqft, 2bds, 1ba. Separate addresses, meters/utilities, entries, garages, and fenced yards for both living spaces. Both units have nice, engineered hardwood flooring, and tile countertops. Units currently rented, with great opportunity for investment property or owner occupancy!

5293 66th Avenue SE, Lacey

Listing courtesy of Riley Jackson Real Estate Inc..

$1,299,950

2534852 MLS ⋅ ACTIVE Status

Excellent quality newer investment opportunity offered substantially under assessed value. Two duplexes featuring 3 bedrooms, 2.5 bath each. All 4 units feature 2 car garages. Both duplexes feature extensive solid surface flooring granite counters throughout, stainless appliances, high efficiency mini split heat pump systems with air conditioning, and energy efficient insulation and lighting packages. Built in 2019 and exceptionally maintained. Long term leases in place and a great cap rate with room for continued growth. Exteriors feature custom accents and fenced yards. Close to all amenities and freeway access, with great schools nearby.

1214 Hall Street SE Unit #A&B, Lacey

Listing courtesy of Blue Summit Realty LLC.

$499,000

2532945 MLS ⋅ ACTIVE Status

Owning a 1940s 1-bedroom, 1-bathroom duplex in Olympia's Carlyon district offers a perfect blend of historic charm, high rental demand, and a premier neighborhood footprint. Located within the highly coveted Olympia School District, this type of property serves as both an architectural gem and a resilient real estate investment. Solid construction has been modernized with tasteful kitchen and bath renovations. HVAC, plumbing, wiring, and windows have all been updated as well. Cozy, clean 1-bed, 1-bath layout maximizes functionality and is a fan favorite for those in the know. The neighborhood vibe is known for its quiet, tree-lined streets, established gardens, and safe, walkable neighborhood atmosphere. Quick, seamless access to Health clubs, Golf, Olympia Farmers Market, local coffee shops, pubs, and waterfront parks. Easy access to Interstate 5 and state government campuses makes it ideal for many. Absolute simple liv'n house hack option in a great location.

902 North Street SE, Tumwater

Listing courtesy of RE/MAX Parkside Affiliates.

$554,000

2532420 MLS ⋅ ACTIVE Status

Looking for a smarter way to buy your next home? This duplex in Rochester offers the ideal owner-occupant opportunity, with one existing renter already in place to help generate income from day one. Live in one unit while the rental income from the other helps offset your monthly costs. Whether you’re house hacking, investing, or planning for multigenerational living, this property offers flexibility and long-term potential. Extensive updates completed in 2024-2025 include a full remodel, plus a new roof installed in 2023, giving the next owner the benefit of modern updates and added peace of mind. Conveniently located within walking distance of the grocery store and centrally positioned between Olympia, Centralia, Chehalis, and Elma, this property combines small-town convenience with easy access to surrounding communities.

10341 SW 184th Avenue, Rochester

Listing courtesy of Mountain View Realty Group.

$499,000

2510649 MLS ⋅ PENDING Status

Excellent rent-ready duplex in highly desirable West Side, Cooper Point location. Ideal for investors or buyers looking to live comfortably in while offsetting their mortgage. Each unit is 1058 sf with 2 bedrooms and 1 bathroom, a 1-car garage, guest parking on a quiet cul-de-sac. This cozy home features a large galley kitchen, dining room, spacious living room and a one-car garage with a laundry room and washer and dryer hookups. Double pane windows keep the elements at bay while the beautiful natural surroundings create a tranquil atmosphere. The vacant side (#A) is move in ready - perfect for an owner-occupant or for leasing immediately at current market rates. The second unit (#B) is occupied and rented at $1700/month and transitioning to a month-to-month lease on October 1, 2026, providing flexibility for future plans. Located close to schools, shopping, dining, parks and essential services, with easy access to major route. List of Recent Improvements: Unit A: New carpets (October 2024) Unit A: All new kitchen appliances (September 2024) Unit A: Refinished countertops in kitchen/bathroom (Sep 2024) Unit A: Full interior paint (September 2024) Unit B: Refinished countertops (September 2025) Unit B: Carpet replacement (August 2025) Unit B: Full interior paint (August 2025) Note: The other two duplexes in the cul-de-sac (4416 and 4424) are also available for sale.

4420 NW Ridgewood Court Unit #A & B, Olympia

Listing courtesy of The Rants Group.

$485,000

2510651 MLS ⋅ ACTIVE Status

Excellent rent-ready duplex in highly desirable West Side, Cooper Point location. Ideal for investors or buyers looking to live comfortably in while offsetting their mortgage. Each unit is 1,170 SF (including 1-car garage) with 2 bedrooms and 1 bathroom, guest parking on a quiet cul-de-sac. This cozy home features a large galley kitchen, dining room, spacious living room and a one-car garage with a laundry room and washer and dryer hookups. Double pane windows keep the elements at bay while the beautiful natural surroundings create a tranquil atmosphere. Both units are occupied. The first unit (#A) is month-to-month and rented at $1600/month. The second unit (#B) is occupied and rented at $1450/month on a month-to-month lease. Located close to schools, shopping, dining, parks and essential services, with easy access to major routes. Unit A: New septic tank (November 2024). Note: The other two duplexes in the cul-de-sac (4416 and 4420) are also available for sale.

4424 NW Ridgewood Court Unit #A & B, Olympia

Listing courtesy of The Rants Group.

$849,950

2528928 MLS ⋅ ACTIVE Status

Rare opportunity to own a newer duplex featuring 3 large bedrooms plus a bonus room, 2.5 baths and 1,742 sqft per unit, along with a 2-car garage. Gateway North neighborhood is well-kept w/ a cohesive look. Located in a very strong rental area, this duplex has great potential for positive cash flow. Units feature 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 2020 and exceptionally well maintained. Long term leases in place and a great cap rate with room for continued growth. Exterior features custom siding accents and fenced rear yards. Convenient to all amenities and freeway access.

3120 Ponderosa Street NE, Lacey

Listing courtesy of Blue Summit Realty LLC.

$849,950

2528936 MLS ⋅ ACTIVE Status

Rare opportunity to own a newer duplex featuring 4 large bedrooms, 2.5 baths and 1,742 sqft per unit, along with a 2-car garage. Gateway North neighborhood is well-kept w/ a cohesive look. Located in a very strong rental area, this duplex has great potential for positive cash flow. Units feature 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 2020 and exceptionally well maintained. Long term leases in place and a great cap rate with room for continued growth. Exterior features custom siding accents and fenced rear yards. Convenient to all amenities and freeway access.

3112 Ponderosa Street NE, Lacey

Listing courtesy of Blue Summit Realty LLC.

$849,950

2528933 MLS ⋅ ACTIVE Status

Rare opportunity to own a newer duplex featuring 4 large bedrooms, 2.5 baths and 1,742 sqft per unit, along with a 2-car garage. Gateway North neighborhood is well-kept w/ a cohesive look. Located in a very strong rental area, this duplex has great potential for positive cash flow. Units feature 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 2020 and exceptionally well maintained. Long term leases in place and a great cap rate with room for continued growth. Exterior features custom siding accents and fenced rear yards. Convenient to all amenities and freeway access.

3108 Ponderosa Street NE, Lacey

Listing courtesy of Blue Summit Realty LLC.

$699,950

2528865 MLS ⋅ ACTIVE Status

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.

1815 Karen Frazier Road SE, Olympia

Listing courtesy of Blue Summit Realty LLC.

$699,950

2528879 MLS ⋅ ACTIVE Status

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.

1819 Karen Frazier Road SE, Olympia

Listing courtesy of Blue Summit Realty LLC.

$699,950

2528804 MLS ⋅ ACTIVE Status

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.

1823 Karen Frazier Road SE, Olympia

Listing courtesy of Blue Summit Realty LLC.

$675,000

2528181 MLS ⋅ ACTIVE Status

Lovely duplex located in the heart of Yelm offering two spacious units, each featuring 3 bedrooms, 2.5 baths, and approximately 1,300 sq ft of comfortable living space. Each home includes a spacious primary suite with private full bath, pantry, washer and dryer, forced-air gas heat, abundant storage, and an attached 1-car garage with opener. The landscaped property also features partially fenced yards for added privacy. One unit has been beautifully remodeled with granite countertops, updated cabinetry, laminate flooring, and modern fixtures throughout. Situated in a quiet community with small-town charm, yet conveniently close to JBLM, shopping, restaurants, schools, parks, golf courses, Lacey, Olympia, and surrounding areas. This property is in an ideal location for both owner-occupants and investors alike.

15334 Berry Valley Drive SE Unit #15332, Yelm

Listing courtesy of Berkshire Hathaway HS NW.

$825,000

2519652 MLS ⋅ ACTIVE Status

Attention investors! Incredible opportunity to own a well-established income-producing multi-family property with tremendous upside potential. Situated on nearly 5 usable acres, this unique property features three total residential buildings, including a one 4-plex, one duplex, and a separate 2-bedroom, 1-bath single-family home. With a strong rental history and long-term tenancy in place, this property offers immediate cash flow along with future income-growth opportunities. All units are single-story, a highly desirable feature for tenants that also helps simplify maintenance and long-term management. The expansive acreage provides additional possibilities for future improvements, including the potential to add tenant storage units or other income-producing amenities, subject to buyer verification. Located at the end of a quiet cul-de-sac, the property offers a peaceful and private setting while still being conveniently close to everyday amenities. Just minutes from town and approximately 20 minutes to the East Gate of JBLM, this location is ideal for attracting and retaining tenants seeking both convenience and privacy. Whether you are looking to expand your investment portfolio or secure a property with long-term upside and stable occupancy, this rare multi-family opportunity checks all the boxes.

17809 120th Avenue SE, Yelm

Listing courtesy of RE/MAX Country.

$700,000

2520863 MLS ⋅ PENDING INSPECTION Status

Spacious duplex opportunity in desirable Tumwater Hill! Each unit offers 1,132 SF with 3 bedrooms, 2 bathrooms, cozy fireplace, private backyard patio, attached single-car garage, plus additional driveway and street parking. Thoughtfully designed layouts provide comfortable living spaces, functional floorplans, and excellent rental appeal. New Paint throughout the house/exterior. Located in one of Tumwater’s most convenient and sought-after neighborhoods with easy access to I-5, downtown Olympia, shopping, restaurants, schools, parks, and recreation. Ideal opportunity for owner-occupants looking to live in one unit while offsetting expenses with rental income from the other, or perfect for investors seeking a strong long-term rental property in a high-demand location. Low-maintenance investment with excellent versatility and lifestyle appeal. Rare chance to own a duplex in Tumwater Hill with close proximity to everything the Olympia/Tumwater area has to offer. Great potential for multigenerational living, investment portfolio growth, or house-hacking opportunity in the heart of Thurston County!

312 G Street SW Unit #A, Olympia

Listing courtesy of eXp Realty.

$549,900

2519345 MLS ⋅ PENDING INSPECTION Status

Great Olympia investment opportunity featuring 2 tenant-occupied units plus a partially finished basement with future rental potential once completed! Charming property with strong income-producing possibilities in a convenient location near downtown Olympia, shopping, restaurants, parks, & I-5 access. Each unit offers functional living spaces with included appliances: refrigerator, stove, dishwasher, washer & dryer. Property features classic character, ample parking, & flexibility for investors or owner-occupants looking to offset expenses. Basement space provides additional upside opportunity for added income or expanded living area with an already finished third full size bathroom. Don’t miss this versatile multi-unit property with immediate cash flow & future potential! Interior photos coming soon.

1813 Franklin Street SE, Olympia

Listing courtesy of Keller Williams South Sound.

$499,000

2510603 MLS ⋅ ACTIVE Status

Duplex Investment Opportunity in Olympia! Well-located duplex in the Cooper Point area offering flexibility for both investors and owner-occupants. This single-story property features two 2-bedroom, 1-bath units, each approximately 904 square feet, for a total of 1,808 square feet of living space. Unit A is currently occupied, providing immediate rental income, while Unit B is vacant and available for occupancy or lease-up. Each unit includes a functional layout with kitchen appliances (range/oven, refrigerator, dishwasher) and comfortable living spaces. Situated on a spacious ~0.33-acre lot in a cul-de-sac setting, the property offers a residential environment with convenient access to local amenities, services, and transportation routes. List of Recent Improvements: Re-roof (2025) Unit A: Refinished shower (April 2025), Unit A: New dryer (November 2024) Unit A: new kitchen appliances (November 2024) Unit B: New kitchen appliances (November 2025) Unit B: New carpets and vinyl (October 2024) Note: The other two duplexes in the cul-de-sac (4420 and 4424) are also available for sale.

4416 Ridgewood Court NW Unit #A & B, Olympia

Listing courtesy of The Rants Group.

$599,000

2519124 MLS ⋅ ACTIVE Status

Perfect location! 3 Bedroom Unit! Located just moments to EVERYTHING! Any of your shopping needs are just down the street. Easy access to I-5 access for anyone that needs to commute. Unit A has BRAND NEW FLOORING, fresh interior paint, lighting, counters & faucets. Unit A offers 3 good sized bedrooms, 1 full bath, large closets, inside laundry, pellet stove, single car garage and off-street parking. Unit B has a tenant, do not disturb, 2 bedrooms, 1 full bath, both are large bedrooms, single car garage, cozy fireplace and off-street parking. Duplex sits on just under 1 acre with the possibility of adding more to the lot. Unit A would be great for an owner-occupants, duplex has great rental history. Single story investment makes maintenance super easy.

6620 Littlerock Road SW, Tumwater

Listing courtesy of Virgil Adams Real Estate, Inc..

$549,000

2517453 MLS ⋅ ACTIVE Status

Outstanding opportunity in a highly desirable Olympia location! Featuring two income-producing 2-bedroom, 1-bath homes on one lot, plus a separate adjacent building lot zoned 4–8 units per acre. Currently rented, offering immediate returns with future upside. 523 is 769 sq. ft., built in 1962, and has been updated with a newer roof, flooring, and siding, and rented for $1,670.00 a month, while the front home, 521, is 839 sq. ft., built in 1965, and presents an opportunity for improvement with some TLC (currently rented for a VERY low rent of $787.50). Each residence includes an adjacent carport. Developers and investors will appreciate the flexibility—build on the additional lot while maintaining rental income, or explore options to condominiumize or short-plat for individual resale, with alley access available (buyer to verify). A rare combination of location, income, and development potential! The listing reflects the combined sq. footage of 521 and 523, and each lot is 5,779 square feet. Taxes are $4,658.11 for 521 and 523, $1,824.27 for the lot. Recent inspections have been completed and are available upon request. Do not disturb the tenants. Viewing of the interior will be upon mutual acceptance of the offer. What a great investment! The cap rate, GSI, etc., are based on unit 521 being rented for the same amount as unit 523.

521 & 523 Boulevard Road SE, Olympia

Listing courtesy of Keller Williams Realty PS.

$795,000

2513663 MLS ⋅ ACTIVE Status

Solid investment opportunity in West Olympia! This fully occupied duplex features two spacious 3BD/2.5BA units with strong rental income. Solid 4.12% cap rate makes this an attractive addition to any investment portfolio. Both units tenant occupied — please do not disturb tenants. Showings following accepted offer.

3145 5th Avenue NW, Olympia

Listing courtesy of Pacific Residential Brokers.

$1,900,000

2513658 MLS ⋅ ACTIVE Status

Exceptional investment opportunity in West Olympia! This 4-plex features four spacious 3BD/2.5BA townhome-style units built in 2015. Each unit offers modern finishes, in-unit washer/dryer, stainless appliances, granite counters, and a 2-car garage. Strong rental income. 4.58% cap rate. Please do not disturb the tenants. Showings will be provided following an offer.

517 Oso Berry Street NW, Olympia

Listing courtesy of Pacific Residential Brokers.

$469,900

2495874 MLS ⋅ PENDING INSPECTION Status

Solid Eastside Olympia duplex in a high-demand rental location just blocks from downtown Olympia. Historically stable income and future upside. Each 920 SF unit features 2 bedrooms, 1 bath, in-unit laundry, laminate floors, skylights and some outdoor space. Generous paved parking area with a large multi-vehicle covered carport adds convenience rarely found at this price point. Ideally located near downtown shopping & restaurants, parks, schools, and everyday amenities, this is a great opportunity for both investors and owner-ocupants.

1072 1074 Central Street SE, Olympia

Listing courtesy of Coldwell Banker Evergreen.

$550,000

2511648 MLS ⋅ PENDING Status

Welcome to this Tumwater Duplex. Each unit features 2 bedrooms and 1 bathroom. One side is currently under renovation, 80% completed. The other side is occupied by a long-term tenant who would like to stay, providing consistent income and stability. The property features a fully fenced backyard and a recently installed new roof. This is an excellent opportunity in a prime location.

610 - 612 Primrose Lane SE, Tumwater

Listing courtesy of RE/MAX Advantage.

$2,650,000

2501659 MLS ⋅ ACTIVE Status

Rare add-value multifamily investment opportunity in Lacey! This well-maintained portfolio includes 3 tax parcels with 13 total units: one parcel features a single-family home and a 4-plex, while the other two parcels each include a 4-plex. All units are fully occupied with strong rental history. Conveniently located near I-5, JBLM, shopping, and schools. Great mix of unit types, stable income, and future upside. Ideal for both seasoned and new investors looking for scale and long-term growth in a strong rental market.

1608 Ruddell Road SE, Lacey

Listing courtesy of TS Property Management.

$1,175,000

2501685 MLS ⋅ ACTIVE Status

Rare add-value multifamily investment opportunity in Lacey! Features fully occupied a single-family home and a 4-plex with strong rental history. Conveniently located near I-5, JBLM, shopping, and schools. Great mix of unit types, stable income, and future upside. Ideal for both seasoned and new investors looking for scale and long-term growth in a strong rental market.

1608 Ruddell Road SE, Lacey

Listing courtesy of TS Property Management.

$775,000

2501702 MLS ⋅ ACTIVE Status

Rare add-value multifamily investment opportunity in Lacey! Features fully occupied 4-plex with strong rental history. Conveniently located near I-5, JBLM, shopping, and schools. Great mix of unit types, stable income, and future upside. Ideal for both seasoned and new investors looking for scale and long-term growth in a strong rental market.

1701 Ruddell Road SE, Lacey

Listing courtesy of TS Property Management.

$775,000

2501707 MLS ⋅ ACTIVE Status

Rare add-value multifamily investment opportunity in Lacey! Features fully occupied 4-plex with strong rental history. Conveniently located near I-5, JBLM, shopping, and schools. Great mix of unit types, stable income, and future upside. Ideal for both seasoned and new investors looking for scale and long-term growth in a strong rental market.

1702 Judd Street SE, Lacey

Listing courtesy of TS Property Management.

$615,000

2486709 MLS ⋅ PENDING Status

Outstanding investment opportunity or owner occupant duplex. This duplex has been very well maintained. Each unit features 2 bedrooms, 1.5 baths, fireplace, washer/dryer and single car garages. Unit 1009 has new carpet, paint and heat pump. Large private backyards with one unit completely fenced. Units have their own water meters and units are currently vacant for ease of showing. Olympia Schools are an added bonus! Seller to replace failed seals on windows at closing.

1007 Lybarger Street SE, Olympia

Listing courtesy of Windermere Real Estate Olympia.

$1,050,000

2481889 MLS ⋅ ACTIVE Status

Unique Investor or Developer Opportunity in Downtown Olympia! Don't miss this one! Listing includes a duplex and 7-plex on one parcel and a leased parking lot. Under market rents, all tenants on month to month tenancy. Units offer a mix of studios and one-bedrooms. Parking spots lease for $30/mo with over 20 stalls! Close to downtown, waterfront, and shopping. Zoned UR (Urban Residential), allows for high-rise redevelopment or mixed-use opportunities!

906 908 Adams Street SE, Olympia

Listing courtesy of Olympic Sotheby's Int'l Realty.

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