423 Franz Anderson Road SE, Olympia, WA 98501

  • Active

 $995,000

  • 2 BedroomBedrooms
  • 2 BathroomBathrooms
  • 1,848 Sq.Ft.
  • Single Family
  • Active
  • MLS# 2540889
  • Sold On
  • Rental
0 More Schedule
Source MLS Verified

PROPERTY DESCRIPTION

Exceptional investment and redevelopment opportunity in one of Olympias fastest-growing corridors! Situated on approximately one acre and surrounded by newer residential development, this property is zoned HDC-4, allowing for significant density and a wide range of housing options. Preliminary analysis indicates the potential for approximately 6070 units with building heights up to 75 feet (buyer to verify all development potential with the City of Olympia). The existing home provides immediate utility while plans are made for future development, creating an ideal hold-and-develop scenario. With strong demand for housing, excellent access to shopping, services, and major transportation routes, this is a rare chance to secure a high-density site in a rapidly evolving area. Whether you're a builder, developer, or investor, the possibilities here are substantial. Opportunities like this are increasingly hard to findbring your vision and capitalize on the growth happening all around you. Buyer to verify all information to their satisfaction. All utilities are on site. Sewer stub is now available right at the property line.

Property Details

General

  • Subdivision: Olympia
  • Area: 447 - Olympia North
  • County: Thurston
  • Acreage: 1.02
  • Beds: 2
  • Full Bathrooms: 1
  • Year Built: 1930
  • Sq. Ft.: 1,848
  • Lot Description: Value In Land

Financial Considerations

  • Tax Year: 2026
  • Tax Amount: $1,036
  • HOA Dues: $0

Activity

  • Days On Market: 86
  • List Date: 06/17/2026
 

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