1604 Fones Road SE, Olympia, WA 98501 (MLS # 2553249)
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Listing provided courtesy of Northwest MLS; eXp Realty
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Exceptional Investment & Development Opportunity! Situated on a prime shy half-acre parcel in a high-density zoning area, this property offers outstanding potential for investors, developers, or those seeking long-term appreciation. Ideally located along Fones Road, the property is positioned to benefit from significant infrastructure improvements currently underway, including newly constructed streets and upgraded utilities, further enhancing its future value and development potential. The existing 2-bedroom, 1-bath home is undergoing a complete renovation with quality finishes throughout, creating an attractive, move-in-ready residence or income-producing rental. Renovations include an open-concept floor plan, stylish high-end finishes, and durable luxury vinyl plank flooring throughout. Whether you're looking to generate immediate rental income while planning future development or secure a property in a rapidly improving corridor, this is a rare opportunity to capitalize on both current cash flow and future multifamily development potential.
| LAST UPDATED | 7/15/2026 | TRACT | Olympia |
|---|---|---|---|
| YEAR BUILT | 1940 | COMMUNITY | Olympia |
| COUNTY | Thurston | STATUS | Active |
| PROPERTY TYPE(S) | Single Family |
| Elementary School | Mountain View Elementary |
|---|---|
| Jr. High School | Chinook Mid |
| High School | North Thurston High |
| ADDITIONAL DETAILS | |
| AIR CONDITIONING | Yes |
|---|---|
| APPLIANCES | Gas Water Heater, Water Heater |
| AREA | 448 - Olympia South |
| BASEMENT | None |
| CONSTRUCTION | Wood Siding |
| HEAT | Baseboard, Electric, Forced Air, Natural Gas |
| INTERIOR | Dining Room, Water Heater |
| LOT | 0.4925 acre(s) |
| LOT DESCRIPTION | Level |
| MLS STATUS | Active |
| PARKING | Driveway |
| SEWER | Septic Tank |
| STORIES | 1 |
| STYLE | 10 - 1 Story |
| SUBDIVISION | Olympia |
| TAXES | 2686 |
| WATER | Public |
TOTAL MONTHLY PAYMENT
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Properties with the 
icon are courtesy of Northwest MLS.
Listings courtesy of Northwest MLS as distributed by MLS GRID. Based on information submitted to the MLS GRID as of 7/17/26 7:29 AM PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. IDX information is provided exclusively for consumers’ personal noncommercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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