Pending396d on market
3532 Mary Elder Road NE
Olympia, WA, 98506 • 98506 • Thurston County
$1,750,000
$244/sqft
20Beds
10Baths
7,163Sqft
0.48 acLot
1950Built
Property DNA
Tri-plex Style
Built 1950 · 76 years of history
Olympia
98506
Market activity
Demand and pricing signals for this listing
11 views
People checking out this listing
396 days on market
Established listing
$244/sqft
Price per square foot
About this home
Multi Family · Built 1950
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.
Standout features identified
Our analysis highlights ample off-street parking and shared laundry as key attractions of this home.
Estimated monthly payment
Based on current rates
$10,897/month
Principal & Interest$8,564
Property Tax$1,750
Insurance$583
Down payment20% ($350,000)
3%50%
Est. 6.19% rate · 30yr fixed · $1,400,000 loan
Full calculator →At a glance
Key facts and listing details
TypeMulti Family
Year Built1950
HeatingBaseboard, Electric
CoolingNone
Parking8 Open Parking spaces
Days on Zillow396 Days
Price/sqft$244
Property
Home typeMulti Family
Sub-typeMulti Family
StyleTri-plex
ConditionFair
Year built1950
Systems
HeatingBaseboard, Electric
CoolingNone
RoofComposition
ConstructionWood Siding, Wood Products
Water / SewerPublic / Sewer Connected
Parking & Outdoor
ParkingOpen
Lot0.48 Acres
Location & Tax
Neighborhood98506
Annual tax$9,920
Parcel11818141600
Features & details
6 categories of property features
Interior Features
Flooring
Laminate
Vinyl
Carpet
Heating
Baseboard
Electric
Cooling
None
Exterior Features
Parking
Open
Construction
Wood Siding
Wood Products
Lot Features
Paved
Fenced-Partially
Listing insights
Market data and value estimates
StatusPending
Days on market396
Est. rent$1,874/mo
Tax rate0.81%
Price/sqft$244
On marketMar 16, 2025
PostedMar 6, 2025
Last sold$6,019
MLS statusPending
MLS updatedNov 3, 2025
Tour days6
Views11
How are the schools in Olympia?
3 schools rated nearby
Location
Olympia, WA, 98506
Price history
6 events
DateEventPrice$/sqftSource
Oct 27, 2025Pending Sale$1,750,000$244NWMLS as distributed by MLS GRID
Sep 13, 2025Listed For Sale$1,750,000$244NWMLS as distributed by MLS GRID
Sep 11, 2025Pending Sale$1,750,000$244NWMLS as distributed by MLS GRID
Mar 6, 2025Listed For Sale$1,750,000$244NWMLS as distributed by MLS GRID
Sep 15, 2016Sold$6,019$1Public Record
Aug 2, 2004Sold$335,000$47Public Record
Pending Sale$1,750,000
Oct 27, 2025•$244/sqft•NWMLS as distributed by MLS GRID
Listed For Sale$1,750,000
Sep 13, 2025•$244/sqft•NWMLS as distributed by MLS GRID
Pending Sale$1,750,000
Sep 11, 2025•$244/sqft•NWMLS as distributed by MLS GRID
Listed For Sale$1,750,000
Mar 6, 2025•$244/sqft•NWMLS as distributed by MLS GRID
Sold$6,019
Sep 15, 2016•$1/sqft•Public Record
Sold$335,000
Aug 2, 2004•$47/sqft•Public Record
Tax history
18 years of records
YearTax paidAssessed value
Apr 7, 2024$11,210$1,059,000
Apr 7, 2023$9,905$1,017,000
Apr 7, 2022$7,861$798,500
Apr 7, 2021$5,266$436,600
Apr 7, 2020$6,967$540,400
Apr 7, 2019$6,845$626,900
Apr 7, 2018$8,316$598,500
Apr 7, 2017$6,899$533,050
Apr 7, 2016$6,899$595,800
Apr 7, 2014$6,899$544,500
Apr 7, 2011——
Apr 7, 2010——
Apr 7, 2009$4,333—
Apr 7, 2008——
Apr 7, 2007$4,180—
Apr 7, 2006$5,555—
Apr 7, 2005$4,040—
Apr 7, 2004——
Nearby homes
Neighborhood details
Local context around this listing
Olympia, WA • Thurston County
Nearby neighborhoods
Cain RoadDowntownEast Bay DriveEastsideMapleviewNewportNorth EastNorthwestSouth WestsideSpringfield
Nearby cities
BucodaCentraliaLaceyNisqually Indian CommunityOlympiaRainierRochesterTenino
Nearby zip codes
985019850498506985079850898512985139854098599
Based on information submitted to the MLS GRID as of 2026-04-07 09:03:29 PDT. 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. [Click here for more information](/mls-disclaimers/#39)
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