5508 South Bay Terrace Drive NE · Olympia, WA 98516
Source: NWMLS · Realty One Group Bold · James Clerget #NWM2572068
About this home
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, a private bulkhead, and sweeping views across serene Henderson Inlet, up through Dana Passage. 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, or alfresco entertaining with direct access to the waterfront grounds. 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. Rare, grandfathered assets include a floating boat dock and fully owned tidelands—providing exceptional privacy. 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. Only minutes from Olympia's dynamic urban core, this is truly an incomparable waterfront property.
Location
Basics
- Property type
- Single Family Residence
- Style
- 1 Story w/Bsmnt.
- Stories
- 1 story
- Condition
- Good
- Year built
- 1968
- Lot size
- 56,628 sq ft (1.3 acres)
- County
- Thurston
- MLS #
- NWM2572068
Interior
- Heating
- 90%+ High Efficiency, Forced Air, Heat Pump
- Cooling
- Heat Pump
- Flooring
- Vinyl, Carpet
- Appliances
- Dishwasher, Double Oven, Dryer, Microwave, Refrigerator, Stove(s)/Range(s), Washer
- Fireplace
- 2 · Gas
- Interior features
- Second Kitchen, Bath Off Primary, Fireplace, Pantry, Security System, Water Heater, Wine/Beverage Refrigerator, Wired for Generator
Exterior & lot
- Exterior features
- Wood
- Roof
- Composition, See Remarks
- Foundation
- Poured Concrete
- Lot features
- Dead End Street, Paved, Secluded
- Topography
- Partial Slope,Terraces
- View
- Bay, Sound, Territorial
- Waterfront
- Yes
Parking
- Parking spaces
- 2
- Garage
- Yes (attached)
- Covered spaces
- 2
- Parking features
- Driveway, Attached Garage, RV Parking
Utilities
- Water
- Community
- Sewer
- Septic Tank
- Power
- Electric, Propane
Community & fees
- Subdivision
- Henderson Inlet
- Property tax
- $10,563 (2026)
Transaction
- Listed on
- Sep 3, 2026
- Days on market
- 17
- Price per sq ft
- $436
- Listing terms
- Cash, Conventional, FHA, VA Loan
- Possession
- Closing
More homes nearby
Sale history
Earlier listings of this home on the MLS.
- 2021-06-15
- Sold$1,281,500
- 2016-05-18
- Sold$549,000
Schools
School district: North Thurston
- High
- North Thurston High SchoolSchoolDigger 3 stars · Top 30% in WA

Listing provided courtesy of: Realty One Group Bold
Listing agent: James Clerget.
Based on information submitted to the MLS GRID as of —. 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. IDX information provided exclusively 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. Information is deemed reliable but not guaranteed.
Data last updated 2026-09-04.