3532 Mary Elder Road NE Olympia, WA $ 1,750,000
3532 Mary Elder Road NE
$ 1,750,000
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3532 Mary Elder Road NE

Olympia, WA, 98506
$ 1,750,000
Baths0.0 Sq 7,163

Monthly Estimate*

$ 10,918

Listed by COMPASS
3532 Mary Elder Road NE, Olympia, WA 98506 - Image 1
3532 Mary Elder Road NE, Olympia, WA 98506 - Image 2
3532 Mary Elder Road NE, Olympia, WA 98506 - Image 3
3532 Mary Elder Road NE, Olympia, WA 98506 - Image 4
3532 Mary Elder Road NE, Olympia, WA 98506 - Image 5
3532 Mary Elder Road NE, Olympia, WA 98506 - Image 6
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3532 Mary Elder Road NE, Olympia, WA 98506 - Image 8
3532 Mary Elder Road NE, Olympia, WA 98506 - Image 9
3532 Mary Elder Road NE, Olympia, WA 98506 - Image 10
3532 Mary Elder Road NE, Olympia, WA 98506 - Image 11
3532 Mary Elder Road NE, Olympia, WA 98506 - Image 12
3532 Mary Elder Road NE, Olympia, WA 98506 - Image 13
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3532 Mary Elder Road NE, Olympia, WA 98506 - Image 16
Studio

Multi-Family Home for sale in Olympia, WA

for $1,750,000. This 7,163 square foot home was built in 1950 on a lot size of 0.48.

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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Multi-Family Pending

Price

$ 1,750,000

Bedrooms

Studio

Property Type

Multi-Family

Taxes

$ 9,920

Style

Tri-plex

Lot Size

0.48

Year Built

1950

Town/City

Olympia

County/Region

Thurston

MLS | Web ID

2339340

Features
General
Living Area 0
Sewer Sewer Connected
Heating Baseboard
Cooling None
Possession Closing Subject to Tenant Rights
Roof Composition
HOA Fee 0
Security Features Partially Fenced
Year Built 1950
Property Subtype Multi Family
Tax Year 2024
County Thurston
Net Operating Income 148073
Insurance Expense 7800
New Construction N
Property Type Residential Income
HOA N
Subdivision Name Olympia
Possible Use Multi-Family
Special Listing Conditions None
Status Pending
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
City Olympia
Senior Community Y/N N
High School District North Thurston
Zoning Description Multi-Family
Open Parking Spaces 8
Number Of Units Total 10
MLS Area 447 - Olympia North
Lot Size Units Square Feet
Lot Size Square Feet 20909
Carport Spaces 0
Carport Y/N N
Listing Terms Cash Out Conventional Rehab Loan
Tax Annual Amount 9920
Electric Expense 10936
Fuel Expense 10936
Property Condition Fair
Public Remarks 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-conf
Leasable Area 7163
Structure Type Triplex
Building Area Units Square Feet
Standard Status Pending
Amenities Coin Op Laundry
Units Below Grade false
Units In Building Total 11
Water Sewer Garbage 10936
Property Style 53 - Tri-plex
Cap Rate 8
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Exterior
Exterior Amenities Wood Wood Products
Lot Features Paved
Water Source Public
Total Parking 8
Foundation Details Poured Concrete
Building Area Total 7163
Lot Size Acres 0.48
Waterfront Y/N N
Covered Spaces 0
Irrigation Water Rights Y/N N
Site Features Fenced-Partially
Parking Uncovered Spaces 8
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Interior
Flooring Laminate Vinyl Carpet
Total Fireplaces 0
Total Stories 2
Air Conditioning Y/N N
Heating Y/N Y
Fireplace Y/N N
Power Production Type Electric
Baths Three Quarter Upper 0
Bedrooms Upper 0
Baths Half Upper 0
Baths Full Upper 0
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Internal Only
OriginalMLSID NWM2339340
Street Number 1 3532
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* Excluded Features
List By
Lisa Le

Listing Agent

Compass

Broker

Affordability Calculator

$11,744
Per Month
93%
7%
0%
Monthly Principal & Interest
$10,918
Monthly Property Taxes
$827
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
257450 Elementary School
258892 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
3/6/2025$1,750,000 Listed Price

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3532 Mary Elder Road NE, Olympia, WA, 98506 is a Multi-Family Home for sale at $1,750,000 with 7,163 sqft and a lot size of 0.48. 3532 Mary Elder Road NE is a studio with 0.0 baths and was built in 1950. The property's zip code is 98506 which is in Olympia, WA