3532 Mary Elder Rd NE Olympia, WA 98506

Building Details

Year Built

1950

Listing agency Compass Show Phone

Listed by Lisa Le · License #123519

Source Crexi

Added: May 5, 2025 Updated: Jul 21 at 5:57PM Checked: Jul 21 at 5:57PM

Report an Issue

Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Compass

---

Investment Insights

Based on property information with market context.

This fully leased 11-unit transitional housing property offers a well-maintained triplex configuration spread across three buildings. The unit mix is diversified throughout the buildings, supported by shared laundry and ample off-street parking, arranged across a nearly half-acre lot.

Located at 3532 Mary Elder Rd NE in Olympia, the property is described as being in the heart of the city with close proximity to shops, dining, and transit. Long-term tenancy and mission-aligned operations are already in place, positioning the asset as a turnkey offering for buyers seeking established occupancy and operating continuity.

Key Highlights

• 11‑unit transitional housing property reported annual NOI of $148,073 and is fully leased
• Triplex layout across three buildings with a unit mix and shared laundry
• Nearly half‑acre lot with ample off‑street parking

Property Analytics

Location Intelligence

Similar For Sale Nearby

• 

  $575,000

  2,300 SF

  Mixed-Use Office and Warehouse Property

  Two separate buildings with individual addresses include an updated craftsman office and a rear garage/warehouse with 12-foot ceilings.

  1806 4th Ave E, Olympia, WA

  View Details
• 

  $3,600,000

  9,520 SF

  Olympia Healthcare Investment Opportunity

  9,520 SF medical building near Providence St. Peter Hospital.

  115 New View Ct NE, Olympia, WA

  View Details
• 

  $7,250,000

  33,007 SF

  Medical Office Portfolio in Medical Park

  Four fully occupied medical office properties totaling 32,105 rentable square feet in Olympia’s Black Hills Medical Park.

  404 Black Hills Ln SW, Olympia, WA 98502

  View Details
• 

  $1,499,000

  13,657 SF

  Versatile Building with Redevelopment Potential

  13,657 SF building with showroom, storage, and redevelopment options.

  509 E 4th Avenue Olympia, WA 98501

  View Details
• 

  $1,595,000

  8,000 SF

  Cold Storage Warehouse Complex

  Two cold-storage capable warehouse buildings on a fenced, gated site with grade-level roll-up doors and 3-phase power.

  545 Ronlee Ln NW, Olympia, WA 98502

  View Details
• 

  $999,000

  6,914 SF

  Well-Maintained Office Building For Sale

  Corner lot office building with parking garage and storage.

  234 8th Avenue SE Olympia, WA 98501

  View Details
• 

  $7,250,000

  33,007 SF

  Fully Occupied Medical Office Portfolio

  Portfolio of four medical office properties with 32,105 rentable square feet, individually metered utilities, and modified gross leases.

  404-412 Black Hills Ln SW, Olympia, WA 98502

  View Details
• 

  $1,350,000

  7,572 SF

  Olympia Retail, Office, Warehouse Buildings

  Retail, office, and industrial warehouse buildings with long-term tenants.

  3456 Martin Way E, Olympia, WA

  View Details
• 

  $2,590,000

  6,243 SF

  Ground-Leased Quick-Service Restaurant

  Single-tenant quick-service restaurant site leased to Buffalo Wild Wings on a ground lease at a corner location.

  1616 Black Lake Boulevard Southwest, Olympia, WA 98502

  View Details
• 

  $1,599,000

  4,584 SF

  Olympia Corner Building Near Freeway

  Well-maintained professional/medical office building with ample parking near freeway.

  2120 Caton Way SW, Olympia, WA 98502

  View Details
• 

  $1,300,000

  12,120 SF

  Downtown Waterfront Retail Property

  Retail building in downtown Olympia with four current tenants and steps from the waterfront and Percival Landing.

  301-303 Capitol Way N, Olympia, WA 98501

  View Details
• 

  $1,695,000

  8,203 SF

  Olympia Office Building For Sale

  Office building in Olympia, WA, featuring multiple suites and parking.

  3912 Martin Way E, Olympia, WA

  View Details

FAQs

What type of property is this?

Apartment building - Triplex layout across three buildings with shared laundry and off-street parking on a nearly half-acre lot.

Where is this apartment building located?

The property is located at 3532 Mary Elder Rd NE Olympia, WA.

What are key features of this property?

This property features: 11‑unit transitional housing property reported annual NOI of $148,073 and is fully leased; Triplex layout across three buildings with a unit mix and shared laundry; Nearly half‑acre lot with ample off‑street parking