423 Franz Anderson Road SE, Olympia, WA, 98501
About This Home
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.
Getting Around
Somewhat Walkable
Some Transit
Very BikeableSchools
Construction
Condition
- Year built: 1930
Materials
- Foundation: Poured Concrete
- Roof: Composition
- Construction materials: Wood Siding,Wood Products
Notable Dates
- Major remodel year: 1982
Type & Style
- Home type: SingleFamily
- Architectural style: 1 Story
- Property subType: Single Family Residence
Interior
Basement
- Basement: None
Bathroom Full
- Level: Main
Bathroom Three Quarter
- Level: Main
Bedroom
- Level: Main
Bedrooms & Bathrooms
- Bedrooms: 2
- Bathrooms: 2
- Full bathrooms: 1
- 3/4 bathrooms: 1
- Main level bathrooms: 2
- Main level bedrooms: 2
Dining Room
- Level: Main
Entry Hall
- Level: Main
Features
- Flooring: Hardwood
Heating & Cooling
- Heating features: Forced Air,Electric,Natural Gas
- Cooling features: None
Interior Area
- Total structure area: 2,883
- Total interior livable area: 2,883 sqft
Kitchen Without Eating Space
- Level: Main
Living Room
- Level: Main
Master Bedroom
- Level: Main
Property
Details
- Parcel number: 41700200000
- Zoning: HDC-4
- Special condition: Standard
Features
- Levels: One
- Stories: 1
- Entry location: Main
- Has view: Yes
- View description: Territorial
- Topography of land: Level
Lot
- Lot size: 1.02 Acres
- Features: Value In Land
- Lot size dimensions: 202' x 207' x 201' x 210'
Parking
- Total spaces: 2
- Parking features: Attached Carport
- Covered spaces: 2
- Carport: Yes
- Carport spaces: 2
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Earthquake
- Heat Wave
- Inland Flooding
How This Home’s Risks Compare
FEMA Declared Disasters in Thurston County and Washington
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $5,031 | $60,372 |
| Home Insurance * | $227 | $2,724 |
| Property Taxes | $155 | $1,860 |
| Electricity | $197 | $2,366 |
| Total | $5,610 | $67,320 |
Income You'd Need if You Spent...
Washington FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-06-17 | Listed for sale | $995,000 |
| 2016-08-12 | Sold | $249,719 |
| 2016-05-18 | Pending sale | $249,950 |
| 2016-05-14 | Listed for sale | $249,950 |
| 2013-09-16 | Listing removed | $324,990 |
| 2013-07-03 | Listed for sale | $324,990 |
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