Olympia, WA 98506 3532 Mary Elder Road NE
$1,750,000
11 more
Presented By: COMPASS and NWMLS
- MLS# 2339340
- 03/06/2025
Disclaimer: The information contained in this listing has not been verified by kvCORE WordPress Staging and should be verified by the buyer.
SQFT • 7,163
Home Details
Exceptional opportunity to own a fully leased 11-unit transitional housing property in the heart of Olympia, generating a strong $148,073 in annual NOI. Spread across three buildings, this triplex-configured asset delivers consistent performance with long-term tenancy and stable returns. Features include shared laundry and ample off-street parking—enhancing tenant retention in this central location. Residents benefit from close proximity to shopping, dining, and transit. This is an ideal acquisition for impact-focused buyers or investors seeking immediate cash flow and long-term potential. Don’t miss this rare opportunity to own a high-performing asset in one of Olympia’s most accessible neighborhoods.
Presented By: COMPASS and NWMLS
Interior Features for 3532 Mary Elder Road NE
Bedrooms
Bedrooms Upper
Bathrooms
Baths Full Upper0
Baths Half Upper
Baths Three Quarter Upper
Other Interior Features
Air Conditioning Y/NNo
Fireplace Y/NNo
FlooringLaminate, Vinyl, Carpet
Heating Y/NYes
Power Production TypeElectric
Total Fireplaces
Total Stories2
General for 3532 Mary Elder Road NE
AmenitiesCoin Op Laundry
Building Area UnitsSquare Feet
Cap Rate8
Carport Spaces
Carport Y/NNo
CityOlympia
CoolingNone
CountyThurston
DirectionsFrom I-5 exit 109, follow Martin Way, right turn on Lilly Rd and left onto Mary Elder Rd – property will be on the right
Electric Expense10936
Fuel Expense10936
HOANo
HOA Fee$
HeatingBaseboard
High School DistrictNorth Thurston
Insurance Expense7800
Leasable Area7163
Listing TermsCash Out, Conventional, Rehab Loan
Lot Size Square Feet20909
Lot Size UnitsSquare Feet
MLS Area447 – Olympia North
ModificationTimestamp2025-09-13T03:58:10.891Z
NWM_ShowMapLinkY
Net Operating Income148073
New ConstructionNo
Number Of Units Total10
Open Parking Spaces8
PossessionClosing, Subject to Tenant Rights
Possible UseMulti-Family
Property ConditionFair
Property Style53 – Tri-plex
Property SubtypeMulti Family
Property TypeResidential Income
Public RemarksExceptional opportunity to own a fully leased 11-unit transitional housing property in the heart of Olympia, generating a strong $148, 073 in annual NOI. Spread across three buildings, this triplex-conf
RoofComposition
Security FeaturesPartially Fenced
Senior Community Y/NNo
SewerSewer Connected
Special Listing ConditionsNone
Standard StatusActive
StatusActive
Structure TypeTriplex
Subdivision NameOlympia
Tax Annual Amount9920
Tax Year2024
Units Below Gradefalse
Units In Building Total11
Water Sewer Garbage10936
Year Built1950
Zoning DescriptionMulti-Family
Exterior for 3532 Mary Elder Road NE
Building Area Total7163
Covered Spaces
Exterior AmenitiesWood, Wood Products
Foundation DetailsPoured Concrete
Irrigation Water Rights Y/NNo
Lot FeaturesPaved
Lot Size Acres0.48
Parking Uncovered Spaces8
Site FeaturesFenced-Partially
Total Parking8
Water SourcePublic
Waterfront Y/NNo
Additional Details
Price History
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