1604 Fones Road SE, Olympia, WA 98501

• 2 beds |
• 1 bath |
• 1,056 sqft

Property Description

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.

Listing Status:

Active

Data Last Updated:

July 22, 2026 at 2:21AM

Listing Office:

eXp Realty : 888-317-5197

Listing Agent:

Ken Crotts : 888-317-5197

MLS ID:

2553249

Interior

• General: Dining RoomWater Heater
• Appliances: DishwasherMicrowaveRefrigeratorStove(s)/Range(s)
• Basement: None
• A/C: Forced Air
• Heating: BaseboardForced Air
• Fireplace: Fireplaces: 0

Exterior

• General: Wood
• Parking: DrivewayParking spaces: 0

Construction

• Roofing: Composition
• General: OnePillar/Post/Pier

Location

• HOA Amenities: 0.0
• Originating MLS: nwmls
• School District: North Thurston
• County: Thurston

Lot

• Topography: Level
• Zoning: 11819142200

Utilities

• Water: Public
• Sewer: Septic Tank

Financial

• Source: nwmls