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$1,750,000 Sale Pending

  • For Sale
  • Pending
  • Multi-Family

Listed by Lisa Le | Compass | (425) 242-6440 and Marius ion | Compass | (425) 242-6440

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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.

Full Property Details for 3532 Mary Elder Rd NE

General

  • Price: $1,750,000
  • Taxes: $9,920 (2024)
  • Status: Pending
  • Type: Multi-Family
  • Source: NWMLS
  • MLS ID: 2339340
  • Updated: 11/3/2025
  • Added to Site: 318 day(s) ago

Interior

  • Flooring: Laminate, Vinyl, Carpet

Additional Information

  • Amenities: Fenced-Partially
  • Security/Safety: Partially Fenced

Parking

  • Uncovered Spaces: 8

Location

  • Area: 447 - Olympia North
  • County: Thurston
  • Subdivision: Olympia
  • Driving 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

School Information

  • High School District: North Thurston

Heating & Cooling

  • Cooling Type: None
  • Heating Type: Baseboard

Utilities

  • Sewer: Sewer Connected
  • Water: Public

Structural Information

  • Structure Type: Triplex
  • Exterior Const.: Wood, Wood Products
  • Foundation: Poured Concrete
  • Roof: Composition
  • Stories in Building: 2
  • Square Feet: 7,163
  • Year Built: 1950
  • Property Condition: Fair

Unit Information

  • Units in Building: 11

Lot Features

  • Lot Size (Acres): 0.48
  • Lot Size (Sq. Ft.): 20,909
  • Lot Size Source: Public Records
  • Lot Features: Paved
  • Zoning: Multi-Family

Financial Considerations

  • Tax Amount: $9,920
  • Tax Year: 2024
  • Terms: Cash Out, Conventional, Rehab Loan

Disclosures and Reports

  • Special Conditions: None
  • Property ID: 11818141600

Listed by Lisa Le | Compass | (425) 242-6440 and Marius ion | Compass | (425) 242-6440

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NMLS#: 1598647

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Save up to an additional 20% by bundling your home and auto together!

Schools serving 3532 Mary Elder Rd NE

School District:North Thurston Public Schools
NameGradesDistance
Pleasant Glade Elementary School
1920 Abernethy Rd NE, Lacey, WA 98516
PK-51.4 mi
Chinook Middle School, Lacey, WA
4301 6th Ave NE, Lacey, WA 98516
6-80.9 mi
North Thurston High School
600 Sleater Kinney Rd NE, Lacey, WA 98506
9-120.7 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 3532 Mary Elder Rd NE Get Price Alerts and Save Property

Date
Details
Price
Change
Source
3/06/2025
Listed
$1,750,000
28974.6%
MLS
9/07/2016
Sold
$6,019
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 3532 Mary Elder Rd NE

Year
Property Taxes
Change
Tax Assessment
Change
2025
$11,210
61%
$1,059,000
143%
2021
$6,967
-11%
$436,600
-45%
2023
$7,861
13%
$798,500
48%
2021
$6,967
-11%
$540,400
-14%
2020
$7,872
15%
$626,900
5%
2019
$6,845
-18%
$598,500
—
2018
$8,316
22%
$599,100
12%
2017
$6,829
-7%
$533,050
-11%
2016
$7,351
7%
$595,800
9%
2015
$6,899
2%
$544,500
—
2014
$6,743
—
$543,600
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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Listed by Lisa Le | Compass | (425) 242-6440 and Marius ion | Compass | (425) 242-6440

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3532 Mary Elder Road NE, Olympia, WA 98506 (MLS# 2339340) is a Multi-Family property with 10 units containing 0 bedrooms and 0 full bathrooms. 3532 Mary Elder Road NE is currently listed for $1,750,000 and was received on March 06, 2025. Want to learn more about 3532 Mary Elder Road NE? Do you have questions about finding other Multi-Family real estate for sale in Olympia? You can browse all Olympia real estate or contact a Coldwell Banker agent to request more information.

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