Listed by Kidder Mathews Tacoma
$475,000
Evergreen Development
Details
APN 4684 – 00-04403
Property Type Land, Multifamily
Sub Type Residential
Square Footage 21,998
Units 27
Stories 3
Acreage 1.710
Parking Spaces 28 spaces
Parking Per SqFt 1.27
Land | 1.71 acres
Marketing description
Kidder Mathews is pleased to present Evergreen Development, an entitled 27-unit site located on the last undeveloped parcel on the Evergreen Park loop in Olympia, WA. Evergreen is a well-designed community boasting a spacious and diversified unit mix, surface parking and a three-story design. With site plan approval in-hand from the City of Olympia, Buyer can seamlessly push ahead on construction drawings, obtain a building permit inside of 6-months, and be ready for a Spiring build. Future residents of Evergreen will benefit from immediate access to HWY 101, proximity to downtown Olympia and the thousands of job opportunities with local State and Heathcare employment, and easy access to countless retain amenities.
Investment highlights
- Entitled 27- Unit Site Entitled site with land use and site plan approval, investors can seamless push forward on building permits and expect to have shovel ready site in +/- 6-months. Excellent opportunity for a Spring build.
- Prime Olympia Location: Situated in Washington’s capital city, benefiting from a stable economic base, strong government employment, and expanding private sector.
- High Demand for Housing: Olympia continues to experience strong rental demand, driven by population growth, limited new supply, and affordability compared to Seattle/Tacoma markets.
- Proximity to Major Employers & Amenities: Close to the State Capitol, Evergreen State College, Providence St. Peter Hospital, and downtown Olympia’s retail, dining, and cultural destinations.
- Excellent transportation Access: Convenient access to I-5, offering connectivity to Tacoma (30 miles north), Seattle (60 miles north), and Portland (110 miles south).
- Scalable Project Size: Mid-size development well-suited for regional developers and private capital investors seeking efficient construction costs and manageable lease-up risk.
- Developer Terms Offered: Ability to tie closing of the site to approval of building permits creating a true shovel ready opportunity for investor.
Listing Contacts
Listed by Kidder Mathews Tacoma
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$--
$--
Valuation Metrics
0
DSCR
--
Cap Rate
--
ROI
Map
Broker Selected Comps View More Comps
Property History
Similar Properties
Is there information that looks off?
