423 Franz Anderson Road SE, Olympia, WA 98501

• 2 beds |
• 2 baths |
• 1,848 sqft

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.

Listing Status:

Active

Data Last Updated:

July 6, 2026 at 7:19AM

Listing Office:

Century 21 Blue Chip : 253-444-3108

Listing Agent:

Greg Pubols : 253-444-3108

MLS ID:

2540889

Interior

• Basement: None
• Flooring: Hardwood
• A/C: None
• Heating: Forced Air
• Fireplace: Fireplaces: 0

Exterior

• General: WoodWood Products
• Parking: Attached CarportParking spaces: 2

Construction

• Roofing: Composition
• General: OnePoured Concrete

Location

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

Lot

• Topography: Level
• Zoning: 41700200000
• View: TerritorialView

Utilities

• Water: Public
• Sewer: AvailableSeptic Tank

Financial

• Source: nwmls