Listing provided courtesy of COMPASSNWMLSas Distributed by MLSGrid- MLS# NWM2339340
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Property dimensions are approximate
A1 for reference
A1 for reference
A1 for reference
A1 for reference
A2 for reference
A2 for reference
shared laundry / two sets
This bldg has had a new roof installed ~3 years ago with 15 year warranty
3532 Mary Elder Road NEOlympia, WA 98506
Multi-Family · 20 Beds · 7,163 Sq. ft. | 0.48 Acres$1,750,000
Pending
3532 Mary Elder Road NE Overview
- Visits:
- 9
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.
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3532 Mary Elder Road NE Facts & Features
- Type Multi-Family
- Sq. ft. 7,163
- Price/Sq.ft. $244
- Lot 0.48 Acres
Details
General
Association/HOA
- Association Fee: $0.00
School Information
- School District: North Thurston
Income/Expenses
- Other Expense: 15755
- Electric Expense: 10936
- Fuel Expense: 10936
- Gross Scheduled Income: 206560
- Insurance Expense: 7800
- Net Operating Income: 148073
- Total Expenses: 66283
- Total Monthly Income: 5280
- Water/Sewer/Garbage: 10936
Building Information
- New Construction: No
- Year Built: 1950
Location/Region
- Country: US
- County Or Parish: Thurston
- MLS Area Major: 447 - Olympia North
- Subdivision Name: Olympia
Community/Development
- Amenities: Coin Op Laundry
Tax Information
- Tax Annual Amount: $9,920.00
- Tax Year: 2024
General Information
- Listing Terms: Cash Out, Conventional, Rehab Loan
- Parcel Number: 11818141600
- Possible Use: Multi-Family
- Property Condition: Fair
- Property Sub Type: Multi Family
- Property Type: Residential Income
- Senior Community: No
- Special Listing Conditions: None
Interior
Beds/Baths
- Bedrooms Upper: 0
Building Interior
- Building Area Total: 7163
- Building Area Units: Square Feet
- Calculated Square Footage: 7163
- Square Footage Finished: 0
- Square Footage Unfinished: 0
General Information
- Cooling: No
- Fireplace: No
- Fireplaces Total: 0
- Flooring: Laminate, Vinyl, Carpet
- Foundation Details: Poured Concrete
- Heating: Yes
- Leasable Area: 7163
- Living Area: 0
- Main Level Bathrooms: 0
- Power Production Type: Electric
- Security Features: Partially Fenced
- Stories Total: 2
Exterior
Parking Information
- Open Parking Spaces: 8
- Open Parking: Yes
- Parking Total: 8
- Parking Uncovered Spaces: 8
Lot Information
- Irrigation Water Rights: No
- Lot Features: Paved
- Lot Size Acres: 0.48
- Lot Size Square Feet: 20909
- Lot Size Units: Square Feet
- Site Features: Fenced-Partially
- Elevation Units: Feet
- Water Source: Public
Waterfront/View
- View: No
- Waterfront: No
Building Exterior/Construction
- Roof: Composition
- Structure Type: Triplex
General Information
- Carport Spaces: 0
- Carport: No
- Covered Spaces: 0
- Exterior Features: Wood, Wood Products
- Number Of Units Total: 10
- Sewer: Sewer Connected
Unit Information
Unit 1 Details
- Beds Total: 2
- Baths Total: 1
Unit 2 Details
- Beds Total: 3
- Baths Total: 1
Unit 3 Details
- Beds Total: 2
- Baths Total: 1
Unit 4 Details
- Beds Total: 2
- Baths Total: 1
Unit 5 Details
- Beds Total: 2
- Baths Total: 1
Unit 6 Details
- Beds Total: 1
- Baths Total: 1
Unit 7 Details
- Beds Total: 2
- Baths Total: 1
Unit 8 Details
- Beds Total: 2
- Baths Total: 1
Unit 9 Details
- Beds Total: 2
- Baths Total: 1
Unit 10 Details
- Beds Total: 2
- Baths Total: 1
3532 Mary Elder Road NE Neighborhood
Community
98506 (OLYMPIA) Demographics
47
Median Age
610
Population Density (per sq. mile)
56%
College Educated
$76,835
Estimated Median Income
5,668
Estimated Total Home Owners
2,775
Estimated Total Renters
67% / 33%
Estimated Owner / Renter Divide
2
Estimated Average Household Size
Schools
School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.3532 Mary Elder Road NE Monthly Cost
3532 Mary Elder Road NE Market Data
Based on the last 30 days in this zip code
$633,818
Average List Price
$290
Average Price per Square Foot
31
Properties Sold
76
Average Days on Market
87
Properties for Sale
3532 Mary Elder Road NE History
| Date | Value | Agent |
|---|---|---|
| 11/3/2025Source: NWMLS | Pending |
|
| 10/27/2025Source: NWMLS | Pending Feasibility |
|
| 9/12/2025Source: NWMLS | Active |
|
| 9/11/2025Source: NWMLS | Pending Inspection |
|
| 3/6/2025Source: NWMLS | March 06, 2025 |