$4,350,000
Est. $22,042/mo101 S 1st Street, Shelton, WA 98584
• Listed 2026-01-26•58 days on market
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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.
Listed by Reid Jones • Westlake Associates, Inc.
Listing updated: April 15, 2026 at 02:49pm
RexMont checked: moments ago
Source: NWMLS as Distributed by MLS Grid #2472205
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101 S 1st Street, Shelton, WA 98584
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Shelton is a balanced market.
Supply and demand are roughly in balance. Neither side has a clear edge.
Offer insight: Well-priced homes draw multiple offers; others sell close to asking.
List to sale price: The average home sells very close to list price.
Time on market: The average home goes pending in around 24 days.
$610,500 Sold
4 weeks ago
4 bd•1 ba
505 S 8th, Shelton, WA 98584
5%
Under list
—
Days on market
0.5 mi
Distance
$475,000 Sold
6 weeks ago
6 bd•3 ba•~3,220 sq ft•Single Family
522 N 3rd Street, Shelton, WA 98584
5%
Under list
—
Days on market
0.3 mi
Distance
$299 Sold
2 months ago
•Single Family
117 N 8th Street #500, Shelton, WA 98584
0%
Over list
—
Days on market
0.4 mi
Distance
$290,000 Sold
2 months ago
2 bd•1 ba•~792 sq ft•Single Family
127 W Alder Street, Shelton, WA 98584
6%
Under list
—
Days on market
0.2 mi
Distance
$175,000 Sold
5 months ago
1 bd•1 ba•~470 sq ft•Single Family
128 Stevens Street, Shelton, WA 98584
0%
Over list
—
Days on market
0.8 mi
Distance
Closed sales from MLS GRID / NWMLS within the past 6 months, matched on property type and within 1 mile. Comps approximate.
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Ask a RexMont agentMarket data from MLS GRID / NWMLS · Updated Jun 2026
School information is unavailable for this listing. School boundaries can change, so verify the assigned schools with the district before purchasing.
