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Listing Firm: COMPASS: Lisa Le

Active
NWMLS # 2339340
  • - Beds
  • - Baths
  • 7163 Sq.ft.

3532 Mary Elder Road NE, Olympia, WA 98506

Listings with the three tree icon are courtesy of NWMLS

About This Property

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.

Aris360 Last Checked: 3 Minutes Ago (May 21, 2025 11:10 PM)

  • Source: NWMLS as Distributed by MLS Grid #2339340

    Listing provided courtesy of Northwest Multiple Listing Service (NWMLS)

Location

  • Country: US
  • Neighborhood: Mary Elder
  • Zip/Postal Code: 98506
  • City: Olympia

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$3,847 per month
Principal & Interest
Home Insurance
Property Taxes

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Loan Detail

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Property Features

  • County
    • Olympia
  • Community
    • 447 - Olympia North
  • MLS Area
    • 447 - Olympia North
  • Longitude
    • -122.84523
  • Latitude
    • 47.048207
  • Directions
    • From I-5 exit 109, follow Martin Way, right turn on Lilly Rd and left onto Mary Elder Rd - property will be on the right

  • Interior
    • Laminate
    • Wall to Wall Carpet
  • Floors
    • Laminate
    • Vinyl
    • Carpet
  • Power Production Type
    • Electric

  • Stories
    • 2
  • Style
    • 53 - Tri-plex
  • Parking Spaces
    • 8
  • Lot Description
    • Paved,
  • Foundation
    • Poured Concrete,
  • Elevation
    • Feet
  • Water Source
    • Public,
  • Exterior
    • Wood
    • Wood Products
  • Site Description
    • Fenced-Partially
  • Roof
    • Composition,
  • Septic or Sewer
    • Sewer Connected,
  • Condition
    • Fair,
  • Building Total Area (Sq. Ft.)
    • 20909

  • High School District
    • North Thurston

  • Possession
    • Closing,
    • Tenant's Rights,
    • Subject to Tenant Rights,
  • Property Type
    • Residential Income
  • Property SubType
    • Multi Family
  • Tax Year
    • 2024
  • Structure Type
    • Condominium,
  • Tax Amount
    • $9920
  • Year Built
    • 1950
  • Effective Year Built
    • 1950
  • Status
    • Active

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Disclaimer: Based on information submitted to the MLS GRID as of Wed May 21 2025 . 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.

May 21, 2025 11:10 PM