$10,000 Closing Credit¹
#2318246, Josh J. Carlson, Listing office: Better Properties N. Proctor
$1,750,000 List price
3532 Mary Elder Rd NE Olympia, WA 98506
$10,000
Closing credit¹
7,163 sqft
0.5 acres
$244 / sqft
House
Property details
About 3532 Mary Elder Rd NE
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.
Highlights
HeatingBaseboard
StatusActive
Size7,163 sqft
Lot size0.48 Acres
Year built1950
MLS #2339340
Summary
- Flooring Type: Laminate, Vinyl, Carpet
- Interior: Laminate
- Exterior: Wood, Wood Products
- Heating: Baseboard
- Cooling: None
- List Price: $1,750,000
- Price/SqFt: $244
- HOA Amount: $0
- Annual Tax Amount: $7,860
- Tax Year: 2022
- Lot: Paved
- 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
- Year Built: 1950
- Stories: 2
- Living Area: 7,163 SqFt
- Lot Size: 0.48 Acres
- MLS Number: 2339340
- MLS Name: NWMLS
- Office Name: COMPASS
- Office Phone: (425) 242-6440
- Listing Agent: Lisa Le
Listings courtesy of Northwest Multiple Listing Service as distributed by MLS GRID.
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. Properties displayed may be listed or sold by various participants in the MLS.
DMCA Notice
The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Northwest Multiple Listing Service IDX. Real estate listings held by other brokerage firms are marked with the green "three trees" logo and includes the name of the listing broker(s). Copyright © 2025 Northwest MLS. All rights reserved.
DMCA Notice
Disclaimer: Information contained in this listing has not been verified by Rocket Homes Real Estate, LLC and should be verified by the buyer. All information deemed reliable but not guaranteed and should be independently verified through personal inspection by and/or with the appropriate professionals. All properties are subject to prior sale, change or withdrawal. Neither broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The information on this web site is 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. Days on site is calculated from the listing date of the current listing and includes the sum of market time from prior listings for the same property uninterrupted by a sale or more than 60 days off-market. Time off market, including time when a sale is pending, temporarily off market, etc. is not included. NorthwestMLS
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 6/17/2025, 1:32:27 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Get an agent. Get a mortgage. Save big.¹
$1,750,000
3532 Mary Elder Rd NE
$10,000
closing credit¹
Sell your home with Rocket and save even more!
Seller rebate
0.5% sale price²
Price information
Property sales
| Date | Event | Price |
|---|---|---|
| Aug 02, 2004 | Home Sold | $335,000 |
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2022 | $798,500 | $7,860 |
| 2021 | $436,600 | $5,266 |
| 2020 | $540,400 | $6,967 |
| 2019 | $626,900 | $6,845 |
| 2018 | $598,500 | $8,315 |
| 2017 | $599,100 | $6,829 |
History based on county public records data.
Nearby schools
5
Pleasant Glade Elementary School
Public District PK-5
1.4 mi
•1920 Abernethy Rd NE
5
Mountain View Elementary School
Public District PK-5
1.7 mi
•1900 College St SE
4
Madison Elementary School
Public District PK-5
1.9 mi
•1225 Legion Way SE
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $52,692. The majority of Olympia, WA residents have income between $35k-100k annually. The most common type of family is single, no kids. Typical level of education for residents in this area is post secondary degree.
How much money do the neighbors make?
38%
<35k
44%
35k-100k
16%
100k-200k
2%
200k+
What level of education do the neighbors have?
High School Diploma
Post Secondary Degree
Masters Degree
What types of families live nearby?
54%
Single, No Kids
9%
Single, with Kids
23%
Married, No Kids
14%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
13%
<11 yrs old
6%
12-17 yrs old
20%
18-34 yrs old
36%
35-64 yrs old
25%
65+ yrs old
What do the neighbors do for fun?
PGA/LPGA
Continuing Education Courses
Figure Skating
Where do the neighbors shop?
Chico's
Express/Express For Men
Nordstrom Rack
Where do the neighbors go to eat?
Cracker Barrel
Qdoba
Bob Evans
What do the neighbors drive?
Buick
Volkswagen
Oldsmobile
What do the neighbors listen to?
Soft Adult Contemporary
Urban Contemporary
News
All data provided by Home Junction and Claritas
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Frequently asked questions
Living in Olympia, WA
Olympia's transportation infrastructure supports a variety of transit options, with a focus on sustainability and accessibility. The city's public transit system provides regular bus services, connecting neighborhoods to the downtown core and beyond. The area is also conducive to walking and cycling, with numerous trails and bike lanes. Major roadways facilitate travel in and out of the city, and ongoing investments in transportation aim to enhance the efficiency and convenience of moving around Olympia.
The community benefits from a solid educational system, with numerous public and private schools catering to a range of educational needs, from elementary to higher education, including The Evergreen State College. Olympia's healthcare network includes several hospitals and clinics, offering services from primary care to specialized medical treatments. The city also features a public library system that serves as a resource and gathering place for residents. Retail and dining options abound, with an emphasis on local businesses that reflect the city's culture and values.
Olympia is celebrated for its vibrant arts scene and community-oriented atmosphere. The city prides itself on its array of local festivals, including the well-known Olympia Arts Walk and the Wooden Boat Festival, which embody the city's creative spirit and maritime heritage. The downtown area, with its eclectic mix of shops and cafes, serves as a hub for both residents and visitors, fostering a sense of community and local pride.
Olympia's housing market showcases a diverse array of options, with single-family homes being a significant presence, reflecting a mix of contemporary and classic Pacific Northwest architectural styles. The market also includes a selection of condominiums and townhouses, providing alternatives for those seeking a more urban living experience. The homeownership rate in Olympia is robust, with a majority of residents owning their homes, while a substantial portion opts for renting, indicating a balanced housing ecosystem.
About 3532 Mary Elder Rd NE
The listing price of 3532 Mary Elder Rd NE property is $1,750,000.
The property 3532 Mary Elder Rd NE is a house located in Olympia, Washington, 98506.
Active Listing: 3532 Mary Elder Rd NE is For Sale (Active/New) which means the seller is accepting offers.
The nearby schools for 3532 Mary Elder Rd NE are: Pleasant Glade Elementary School (GreatSchools Rating 5/10), Mountain View Elementary School (GreatSchools Rating 5/10), Madison Elementary School (GreatSchools Rating 4/10), Chinook Middle School (GreatSchools Rating 4/10), Washington Middle School (GreatSchools Rating 7/10), Reeves Middle School (GreatSchools Rating 7/10), North Thurston High School (GreatSchools Rating 7/10), Envision Career Academy (GreatSchools Rating 3/10), Olympia Regional Learning Academy (GreatSchools Rating 6/10).
According to the records, the last property tax for 2022 is $7,860 (source: MLS/based on county public records data).
The last sale was on August 2, 2004 for $335,000 (source: MLS/tax record).
The property at 3532 Mary Elder Rd NE has 0 bathroom.
The property 3532 Mary Elder Rd NE is 7,163 SqFt (source: MLS/tax record).
The year of construction for 3532 Mary Elder Rd NE is 1950.
This home is located at 3532 Mary Elder Rd NE in Olympia, WA and zip code 98506. This 7,163 square foot home, which was built in 1950, sits on a 0.48 acre lot. Features: 0 bathroom. It has been listed on Rocket Homes since March 6, 2025 and is currently priced at $1,750,000.
Over 64 listings were sold over their listed price in May 2025 in Olympia, WA. In the same period over 52 listings were sold below the listed price and 62 listings were sold for the listed price. In May 2025 in Olympia, WA there were 16.9% more homes for sale than in April. The median list price of listings available in May 2025 was $564,571, while the average time on the real estate market was 30 days.
From Rocket Homes Real Estate and based on county public records data.