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Provided by NWMLS, Listed by Reid Jones, 206-505-9400 at Westlake Associates, Inc.
21,879 sqft

$4,350,000

101 S 1st Street, Shelton WA, 98584

Price per sqft$198.82
Built in1908
Property size21,879 sqft
Property typeMulti-family

Overview

Active

Listed Jan 21, 2026

Updated 7 days ago

101 First offers a unique mixed-use investment in the heart of downtown Shelton, widely regarded as the gateway to Hood Canal and the Olympic Peninsula. The property features 28 studio units, 10 one-bedroom apartments, and four retail spaces positioned along the city’s primary commercial corridor. A second 5,000 square-foot parcel at the corner of 1st and Cota Street serves as dedicated parking for the property and is connected to the main building via a permanent skybridge. Retrofitted in 2000 with building improvements, including electrical upgrades, the property continues to benefit from professional on-site management and efficient operations. Tenants enjoy off-street parking, controlled access, community garden space, and convenient access to schools, grocery stores, shopping, the local movie theater, and a range of downtown amenities. Importantly, Shelton offers a more affordable cost of living and rental environment relative to nearby Olympia and other South Sound markets, supporting consistent demand from residents seeking value without sacrificing access or convenience. With walkable access to the transit center and strong visibility along South 1st Street, the property is well positioned to capture stable, long-term tenant demand from both local renters and those priced out of higher cost surrounding areas.

$28,941/mo

Est. mortgage payment based on a $4,350,000 home price.

All estimates are provided by Luxury Presence for informational purposes only. Actual amounts may vary.

Additional information

MLS® ID
2580482

Interior Features

Heating
Yes
Basement
No

Exterior Features

Lot Size
0.33 Acres

Other Property Details

Taxes
$27,140
Tax Frequency
Annually
55+/Senior Community
No
MLS provider logo

Provided by NWMLS, Listed by Reid Jones, 206-505-9400 at Westlake Associates, Inc.

The IDX display presents information sourced from the Northwest Multiple Listing Service as of 9/18/2026. The data is intended for personal, non-commercial use and should not be used for any other purpose except to identify potential properties for purchase. While the MLS data displayed is generally deemed reliable, it is NOT guaranteed to be accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and are advised to conduct their own investigations or seek professional assistance. Other sources besides the Listing Agent may have contributed to the MLS data presented. Unless expressly specified in writing, the Broker/Agent has not confirmed any information obtained from external sources. The Broker/Agent may or may not have acted as the Listing and/or Selling Agent and cannot guarantee the accuracy of property locations displayed on any map. The property locations displayed on any map are merely best approximations and exact locations should be independently verified. Based on information submitted to the MLS GRID as of 9/18/2026 at 6:42 AM UTC . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

©2026 Northwest Multiple Listing Service all rights reserved.

Data last updated on 9/18/2026 at 6:42 AM UTC 

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