3532 Mary Elder Road NE, Olympia, WA 98506
- $1,750,000
- 7,163
- SqFt
Listing courtesy of COMPASS.
- List Price
- $1,750,000
- Status
- PENDING
- MLS#
- 2339340
- Days on Market
- 329
- Style
- 53 - Tri-plex
- Building Condition
- Fair
- Finished SqFt
- 7,163
- Area Total SqFt
- 7163
- Annual Tax Ammount
- 9920
- Lot Size (sq ft)
- 20,909
- Sewer
- Sewer Connected
Property Description
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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Additional Information
- List Date
- 2025-09-03 22:10:15
- Community
- Olympia
- Net Operating Income
- $148,073
- Gross Adjusted Income
- $148,073
- Gross Scheduled Income
- $206,560
- Total Monthly Income
- $5,280
- Insurance Expenses
- $7,800
- Water/Sewer/Garbage Expenses
- $10,936
- Gross Rent Multiplier
- 11.4
- Total Expenses
- $66,283
- Cap Rate
- 8
- Total Number of Units
- 10
- Unit Name
- 3532
- Potential Terms
- Cash Out, Conventional, Rehab Loan
- Year Built
- 1950
- Roof
- Composition
- Site Features
- Fenced-Partially
- Electric Expenses
- 10936
- Other Expenses
- 15755
- Energy Source
- Electric
- School District
- North Thurston
- Total Monthly Income
- $5,280
- Gross Scheduled Income
- $206,560
- Gross Adjusted Income
- $148,073
- Tax Year
- 2024
- Insurance Expense
- $7,800
- W/S/G Expenses
- $10,936
- Total Expenses
- $66,283
- Net Operating Income
- $148,073
- Gross Rent Multiplier
- 11.4
- Cap Rate
- 8
Based on information submitted to the MLS GRID as of . 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.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.