David Devine

5508 South Bay Terrace Drive Ne

Olympia, WA
$ 1,450,000 Beds 3 Baths 3 Sq 3,329 Virtual Tour
Monthly Estimate* How much can I afford?

Discover a rare 1.3-acre dual-parcel legacy estate in coveted South Bay Terrace. This 3,329-SF luxury home offers 160 feet of low-bank saltwater frontage and sweeping views across serene Henderson Inlet, up through Dana Passage. Invaluable, grandfathered assets include a floating boat dock, a private bulkhead, and fully owned tidelands—providing exceptional privacy. Ideally located near Boston Harbor and Woodard Bay Conservation Area, this sanctuary offers unrivaled access to Puget Sound’s most beautiful protected waters. Designed to frame the water from nearly every room, the home features a gourmet chef’s kitchen with granite countertops, hardwood finishes, a professional Viking range, and premium KitchenAid appliances. Expansive living areas are filled with natural light, while the daylight basement offers flexible space for multi-generational living, a home theater, and alfresco entertaining with direct access to the waterfront grounds. A brand-new architectural roof and professionally permitted Generac standby generator with a 240-gallon propane system provide lasting peace of mind-whatever the season. The finished garage features epoxy flooring with ample hobby-craft space. Fully landscaped grounds include new premium wood and wrought iron fencing, a vegetable garden, and a private orchard with mature apple, pear, and cherry trees. The children's area ensures fun for all. Only minutes from Olympia's dynamic urban core, this is truly an incomparable waterfront property.

Active

  • Price
  • $ 1,450,000
  • City
  • Olympia
  • Bedrooms
  • 3
  • Full Bathrooms
  • 3
  • County
  • THURSTON
  • Half Bathrooms
  • 0
  • Area
  • Boston Harbor
  • Lot Size
  • 1.3 Acres
  • Zip
  • 98516
  • Sqr Footage
  • 3,329
  • Year Built
  • 1968
  • Taxes
  • $ 10563
  • Style
  • 1 Story w/Bsmnt.
  • MLS#
  • 2572068
Listed By: Realty One Group Bold and NWMLS
Data Source: Northwest Multiple Listing Service (NWMLS)

Features

General

Living Area 3329
Sewer Septic Tank
Heating 90%+ High Efficiency,Forced Air,Heat Pump
Cooling Heat Pump
Possession Closing
Roof Composition,See Remarks
Appliances Dishwasher,Double Oven,Dryer,Microwave,Refrigerator,Stove(s)/Range(s),Washer
Security Features Partially Fenced,Security Gate,Security System
Year Built 1968
View Bay,Sound,Territorial
Topography Partial Slope,Terraces
Levels One
Property Subtype Single Family Residence
Tax Year 2026
Waterfront Features Low Bank,Bayfront,Sound
County Thurston
New Construction No
Property Type Residential
HOA No
Attached Garage Yes
Subdivision Name Henderson Inlet
Facing Direction West
Garage Y/N Yes
Full Baths 2
Special Listing Conditions None
Status Active
Directions GPS shows location: From I-5,exit to North on Sleater-Kinney,right on 54th Ave SE into South Bay Terrace community. Road bends left to South Bay Terrace Drive. Home on waterside/right.
City Olympia
Senior Community Y/N No
High School District North Thurston
MLS Area 445 - Boston Harbor
Lot Size Units Square Feet
Lot Size Square Feet 56628
Carport Y/N No
Listing Terms Cash,Conventional,FHA,VA Loan
Land Lease Y/N No
Tax Annual Amount 10563
Property Condition Good
Public Remarks Discover a rare 1.3-acre dual-parcel legacy estate in coveted South Bay Terrace. This 3,329-SF luxury home offers 160 feet of low-bank saltwater frontage and sweeping views across serene Henderson In
Virtual Tour https://listings.imageartsphoto.com/videos/01a0630e-3e40-70af-ba18-dc82326fc9fe
Structure Type House
Building Area Units Square Feet
Standard Status Active
Water Company South Bay Community
Property Style 16 - 1 Story w/Bsmnt.
NWM_ShowMapLink Yes

Interior Features

Interior Amenities Second Kitchen,Bath Off Primary,Fireplace,Pantry,Security System,Water Heater,Wine/Beverage Refrigerator,Wired for Generator
Basement Daylight
Flooring Vinyl,Carpet
Total Fireplaces 2
Fireplace Features Gas
Air Conditioning Y/N Yes
Heating Y/N Yes
Fireplace Y/N Yes
3/4 Baths 1
Total Bedrooms 3
Main Level Bedrooms 3
Total Baths 3
Bedrooms Possible 3
Water Heater Type Electric
Water Heater Location Basement storage
Fireplaces Main 1
Fireplaces Lower 1
Power Production Type Electric,Propane
Baths Three Quarter Lower 1
Baths Full Main 2
Bathrooms 2.75

Exterior Features

Exterior Amenities Wood
Vegetation Fruit Trees,Garden Space
Parking Features Driveway,Attached Garage,RV Parking
Lot Features Dead End Street,Paved,Secluded
Water Source Community
Total Parking 2
Inclusions Dishwasher(s),Double Oven,Dryer(s),Microwave(s),Refrigerator(s),Stove(s)/Range(s),Washer(s)
Foundation Details Poured Concrete
Building Area Total 3329
Lot Size Acres 1.3
Waterfront Y/N Yes
Covered Spaces 2
Irrigation Water Rights Y/N No
Waterfront Footage 160
Site Features Deck,Dock,Fenced-Partially,Gated Entry,Outbuildings,Outdoor Fireplace,Patio,Propane,RV Parking

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Affordability Calculator

$3,786

Per Month

Based on the average sale price from the Vancouver, WA office

  • Monthly Principal & interest $2,658
  • Monthly Property Taxes $1,062
  • Monthly Home Insurance $67
Adjust Payment Options
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Let's determine your purchasing power. Working with my mortgage partner, you'll have the information you need to shop for a home with confidence.

Default based on a 30-year fixed rate of 6.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA, or jumbo loans.

Mortgage calculator provided courtesy of Inside Real Estate.

Schools

Elementary School Unknown Elementary School
Middle School Unknown Middle School
High School Unknown High School

Price History

9/3/2026 Listed $1,450,000

Property vs Zip Code Average in 98516

Price
AVG $720K
$1.45M
Taxes
AVG $6,613
$10,563
Year Built
AVG 2004
1968
Visits
AVG 216
13
Data Provided by Inside Real Estate®

In The Neighborhood

Areas That We Cover

5508 South Bay Terrace Drive Ne Olympia, WA is a Single Family Home for sale at $1450000 with 3329 sqft and a lot size of 1.3 Acres Acre(s). 5508 South Bay Terrace Drive Ne Olympia has 3 bedrooms, 3 baths and was built in 1968. The property's zip code is 98516 which is in Olympia, WA

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 6.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

Mortgage calculator provided courtesy of Inside Real Estate.

All information deemed reliable, but not guaranteed, and should be independently verified. The real estate information and related content displayed on this site is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

David Devine

David Devine

Real Estate Broker

503-381-3858

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