$995,000

2 Beds 2 Baths 1,848 SQFT 1.02 Acres
Type: Single Family

423 Franz Anderson Road SE
Olympia, WA 98501

MLS#: 2540889
Presented by: Century 21 Blue Chip and NWMLS

Property Description

 

Exceptional investment and redevelopment opportunity in one of Olympia’s 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 60–70 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 find—bring 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.


 

Interior Features

Bedrooms

Bedrooms Lower0
Bedrooms Possible2
Bedrooms Upper0
Main Level Bedrooms2
Total Bedrooms2

Bathrooms

3/4 Baths1
Bathrooms1.75
Baths Full Garage0
Baths Full Lower0
Baths Full Main1
Baths Full Upper0
Baths Half Garage0
Baths Half Lower0
Baths Half Main0
Baths Half Upper0
Baths Three Quarter Garage0
Baths Three Quarter Lower0
Baths Three Quarter Main1
Baths Three Quarter Upper0
Half Baths0
Total Baths2

Other Interior Features

Air Conditioning Y/NNo
BasementNone
Fireplace Y/NNo
FlooringHardwood
Heating Y/NYes
Power Production TypeElectric, Natural Gas
Total Fireplaces0

General

Attached Garage No
Building Area Units0 sqft
Building NameCollege City Berry Tr
Carport Spaces2
Carport Y/NYes
CityOlympia
CoolingNone
CountyThurston
DirectionsFrom I-5, Take exit 107, L on Pacific Ave., L on Lilly Rd., L on Stoll Rd., R on Franz Anderson. Property is down on the left.
Entry LocationMain
Facing DirectionEast
Full Baths1
HOANo
HOA Fee$0
HeatingForced Air
High School DistrictNorth Thurston
Land Lease Y/NNo
LevelsOne
Listing TermsCash, Conventional, Owner Will Carry
Living Area1,848 sqft
Lot Size Square Feet44,431 sqft
Lot Size UnitsSquare Feet
MLS Area447 - Olympia North
NWM_ShowMapLinkY
New ConstructionNo
PossessionClosing
Property Style10 - 1 Story
Property SubtypeSingle Family Residence
Property TypeResidential
Public RemarksExceptional 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
RoofComposition
Senior Community Y/NNo
SewerAvailable, Septic Tank
Special Listing ConditionsNone
Standard StatusActive
StatusActive
Structure TypeHouse
Subdivision NameOlympia
Tax Annual Amount$1,036
Tax Year2026
TopographyLevel
ViewTerritorial
Water CompanyCity of Olympia
Year Built1930

Exterior

Building Area Total2,883 sqft
Covered Spaces2
Exterior AmenitiesWood, Wood Products
Foundation DetailsPoured Concrete
Irrigation Water Rights Y/NNo
Lot Dimensions202'x207'x201'x210'
Lot FeaturesValue In Land
Lot Size Acres1.02
Parking FeaturesAttached Carport
Total Parking2
Water SourcePublic
Waterfront Y/NNo

Additional Details

Price History

Schools 

Elementary School N/A
High School N/A
Middle School N/A

  

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$995,000

2 Beds 2 Baths 1,848 SQFT 1.02 Acres
Type: Single Family

423 Franz Anderson Road SE
Olympia, WA 98501

MLS#: 2540889