Rodeo Realty Introduces: The Castle at Summit Lake, a $5.99M Landmark Waterfront Estate of Luxury & Income Potential

The Castle At Summit Lake

OLYMPIA, WA, UNITED STATES, August 7, 2025 /EINPresswire.com/ -- A rare opportunity to acquire one of the Pacific Northwest’s most architecturally distinctive and commercially viable lakefront estates has officially come to market. Marketing provided by luxury real estate expert Scott Goshorn of Rodeo Realty Beverly Hills, The Castle at Summit Lake spans 7,500 square feet across three levels and blends bold design, resort-style amenities, and a fully operational short-term rental business with strong income performance.

Designed to sleep over 30 guests, the estate features a private sandy beach, dock, and a nine-person hot tub overlooking Summit Lake. Inside, highlights include a poker turret, arcade, billiards room, 14-seat bar, chef-grade kitchen, media lounge, firepit, Smart TVs, central air conditioning, and high-speed Wi-Fi. The layout offers multiple indoor and outdoor spaces for entertaining, creating a true year-round retreat.

As a business asset, the property projects a first-year gross revenue of $612,420 and net operating income of $467,178, delivering a 7.8% cap rate based on list price. Five-year projections place NOI at over $750,000, presenting a rare combination of luxury lifestyle and investment performance. The Castle is ideally suited for weddings, micro-weddings, executive and team retreats, wellness escapes, culinary events, and family gatherings, offering flexible, high-end hosting potential.

Conveniently located just 20 minutes from downtown Olympia and one hour from Seattle-Tacoma International Airport, the estate also offers direct access to Highway 101, WA-8, Ocean Shores, and the Olympic National Forest. It is one of only nine short-term rentals within 60 miles that can host 16 or more guests—and the only one located directly on Summit Lake. With zero local competition and strong market positioning, the property stands out as a unique opportunity in an underbuilt hospitality zone.

Offered at $5,990,000, The Castle at Summit Lake is more than a home—it is a fully realized luxury estate, a profitable hospitality platform, and a generational legacy asset.

Immi Torrance
Rodeo Realty Inc.
+1 310-471-2600
email us here

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