3532 Mary Elder Road Northeast
Olympia, WA 98506
$1,750,000
Price
20
Beds
10
Baths
7,163 Sq. Ft.
$244 / Sq. Ft.
7,163
Sq. Ft.
$244
per Sq. Ft.
Listed By Compass
Listed By Compass
Listing provided courtesy of COMPASS
Description
Exceptional Investment Opportunity in the Heart of Olympia! Discover this well-maintained TRIPLEX featuring 11 units, offering a rare investment opportunity in a prime and central location. Tenants can enjoy easy access to local shops, dining, and public transportation ensuring high occupancy rates and consistent rental income. The property includes shared laundry facilities and ample parking space, valuable assets in this bustling area. Each unit is thoughtfully designed for long-term tenancy, making...Exceptional Investment Opportunity in the Heart of Olympia! Discover this well-maintained TRIPLEX featuring 11 units, offering a rare investment opportunity in a prime and central location. Tenants can enjoy easy access to local shops, dining, and public transportation ensuring high occupancy rates and consistent rental income. The property includes shared laundry facilities and ample parking space, valuable assets in this bustling area. Each unit is thoughtfully designed for long-term tenancy, making it ideal for investors looking to expand their portfolio in a thriving area. With a strong rental history and growth potential, this property combines stability with room for appreciation. An asset like this won’t last long - call today!
Listing Agents
![Lisa Le]()
lisa.le@compass.comP: (206)-734-9044
![Marius Ion]()
marius.ion@compass.comP: (425)-466-7876
Property Details for 3532 Mary Elder Road Northeast
Community Name
Olympia
School DistrictNorth Thurston
Number of Assigned Spaces8
Total Covered Parking0
Entry Date10-17-2024
Energy SourceElectric
SewerSewer Connected
LISTING UPDATED: 11/13/2024 10:56 AM
Property Details for 3532 Mary Elder Road Northeast
| Status | Active |
|---|---|
| MLS # | 2302368 |
| Days on Market | 35 |
| Cumulative Days on Market | 35 |
| Taxes | $7,876 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1950 |
| Lot Size | 0.48 AC / 20,909 SF |
| County | Thurston County |
| Buyer's Agent Compensation | 2.5% |
Building Information for 3532 Mary Elder Road Northeast
Stories2Residences10Year Built1950Building Size-Lot Size0.48 AC / 20,909 SF
Property Information for 3532 Mary Elder Road Northeast
Summary
Location and General Information
- Style: 53 - Tri-plex
- Site Features: Fenced-Partially
- Area: 447 - Olympia North
- Effective Year Built Source: Public Records
- 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
- Leased Items: None
- Property Sub Type: MULT
- View: No
- Waterfront: No
Taxes and HOA Information
- Tax Year: 2024
Parking
- Number of Carport Spaces: 0.0
- Carport: No
- Open Parking Spaces: 8.0
- Open Parking: Yes
Interior and Exterior Features
Bathroom Information
- Full Baths Upper: 0
- Three Quarter Baths Upper: 0
- Half Baths Upper: 0
- Main Level Bathrooms: 0
Bedroom Information
- Bedrooms Upper: 0
- Bedrooms Possible: 0
Interior Features
- Fireplaces Total: 0
- Floor Covering: Laminate, Vinyl, Carpet
- Features: Laminate, Wall to Wall Carpet
- Amenities: Coin Op Laundry
- Cooling: No
- Cooling: None
- Fireplace: No
- Heating: Yes
- Heating: Baseboard
- FIRPTA: No
Exterior Features
- Exterior: Wood, Wood Products
- Roof: Composition
- Security Features: FullyFenced
Property
Utilities
- Water Source: Public
- Water/Sewer/Garbage: 33082
- Power Production Type: Electric
Property and Assessments
- New Construction YN: No
- Zoning Jurisdiction: County
- Foundation: Poured Concrete
- Zoning Class: Multi-Family
- First Right Of Refusal: false
- Possible Use: Multi-Family
- MLS Square Footage Source: Public Records
- Preliminary Title Ordered: Yes
- Senior Community: No
- Special Listing Conditions: None
- Year Built Effective: 1950
- Photos Count: 18
Lot Information
- Lot Details: Paved
- Lot Size Source: Public Records
- Parcel Number Free Text: 11818141600
- Building Condition: Fair
- Calculated Square Footage: 7163
- Structure Type: Triplex
- Square Footage Finished: 0
- Square Footage Unfinished: 0
- Building Area Total: 7163.0
- Building Area Units: Square Feet
- Property Type: Residential Income
- Elevation Units: Feet
- Irrigation Water Rights: No
Multi Family
Building Details
- Number of Uncovered Spaces: 8
- Number of Stories in Building: 2
- Vacancy Rate: 0
- Number Of Units Total: 10
- Units Below Grade: false
- Units In Building Total: 11
Financing / Income and Expenses
- Electric Expense: $1
- Total Expenses: 51968
- Gross Adjusted Income: 153071
- Gross Rent Multiplier: 8.5
- Gross Scheduled Income: $205,037
- Insurance Expense: $1,008
- Net Operating Income: $153,071
- Other Expenses: $10,000
- Total Monthly Income: 1
- Fuel Expense: $1
Unit 1
- Name Unit 1: C5
- Bedrooms Unit 1: 2
- Bathrooms Unit 1: 1
Unit 2
- Name Unit 2: A2
- Bedrooms Unit 2: 2
- Bathrooms Unit 2: 1
Unit 3
- Name Unit 3: A1
- Bedrooms Unit 3: 3
- Bathrooms Unit 3: 1
Unit 4
- Name Unit 4: C4
- Bedrooms Unit 4: 2
- Bathrooms Unit 4: 1
Unit 5
- Name Unit 5: C6
- Bedrooms Unit 5: 2
- Bathrooms Unit 5: 1
Unit 6
- Name Unit 6: C7
- Bedrooms Unit 6: 1
- Bathrooms Unit 6: 1
Unit 7
- Name Unit 7: B8
- Bedrooms Unit 7: 2
- Bathrooms Unit 7: 1
Unit 8
- Name Unit 8: B9
- Bedrooms Unit 8: 2
- Bathrooms Unit 8: 1
Unit 9
- Name Unit 9: B10
- Bedrooms Unit 9: 2
- Bathrooms Unit 9: 1
Unit 10
- Name Unit 10: B11
- Bedrooms Unit 10: 2
- Bathrooms Unit 10: 1
Rental
Rent Information
- Occupant Type: Tenant
- Leasable Area: 7163.0
- Leasable Area Units: Square Feet
Property History for 3532 Mary Elder Road Northeast
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 3532 Mary Elder Road Northeast
Taxable ValueLand$53,300Additions$745,200Total$798,500
Tax Record2023$7,861 ($655 / month)
Home Facts
Baths3Total Finished SqFt4,430 SqFtAbove Ground SqFt3,131 SqFtFinished Basement SqFt1,299 SqFtStories2Lot Size20,909 SqFtStyleTriplexYear Built1950Year Renovated1986CountyTHURSTONAPN1181-81-41600Fireplace TypeHas Fireplace
Schools near 3532 Mary Elder Road Northeast
This home is within North Thurston Public Schools.
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | PK to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | K to 8 |
Rating | School | Distance |
|---|---|---|
Pleasant Glade Elementary School PublicPK to 5 | ||
Chinook Middle School Public6 to 8 | ||
North Thurston High School Public9 to 12 | ||
Ignite Family Academy PublicK to 8 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
Similar Homes
Sorry, we can't find any similar homes at this time. Please check back later.
Similar Sold Homes
Sorry, we can't find any similar sold homes at this time. Please check back later.
Homes for Sale near Olympia
Neighborhoods
- Bigelow
- Bigelow Highlands
- Downtown Olympia
- East Bay Drive
- Eastside
- North East Olympia
- Olympia Avenue Historic District
- Pleasant Glade
- Upper Eastside
- Central Lacey
- Olympia Downtown Historic District
- Indian Creek
- South Capitol
- West Bay Drive
- Northwest Olympia
- Chambers Lake Basin
- South Westside
- Southeast Olympia
- Wildwood
- Cain Road
Cities
No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.
Listing Courtesy of COMPASS
Listing provided courtesy of NWMLS, RMLS or Yakima MLS. The information contained in this listing has not been verified by Compass or the MLS and should be verified by the buyer. The DOM value represents the number of days this listing has been Active on this website.
