3532 Mary Elder Road NE · Olympia, WA 98506
Source: NWMLS · COMPASS · Lisa Le #NWM2339340
About this home
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.
Location
Basics
- Property type
- Multi Family
- Style
- Tri-plex
- Stories
- 2 stories
- Condition
- Fair
- Year built
- 1950
- Building area
- 7,163 sq ft
- Lot size
- 20,909 sq ft (0.48 acres)
- County
- Thurston
- MLS #
- NWM2339340
Interior
- Heating
- Baseboard
- Cooling
- None
- Flooring
- Laminate, Vinyl, Carpet
Exterior & lot
- Exterior features
- Wood, Wood Products
- Roof
- Composition
- Foundation
- Poured Concrete
- Lot features
- Paved
- Waterfront
- No
Parking
- Parking spaces
- 8
Utilities
- Water
- Public
- Sewer
- Sewer Connected
- Power
- Electric
Community & fees
- Subdivision
- Olympia
- Property tax
- $9,920 (2024)
Transaction
- Listed on
- Mar 6, 2025
- Days on market
- 231
- Listing terms
- Cash Out, Conventional, Rehab Loan
- Possession
- Closing, Subject to Tenant Rights
More homes nearby
Schools
School district: North Thurston
- High
- North Thurston High SchoolSchoolDigger 3 stars · Top 30% in WA
Listing provided courtesy of: COMPASS
Listing agent: Lisa Le.
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 provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.
Data last updated 2026-04-22.