3335 Martin Way E | Olympia, WA 98506
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3335 Martin Way E
Olympia, WA 98506
Merritt Manor · Multifamily Property For Sale
·
82 Units
Investment Highlights
- In place Multifamily Tax Exemption through 2032 with an option to extend, greatly reducing the tax load on the asset.
- 2020 construction with large two and three-bedroom units averaging 894 square feet.
- The convenient location provides residents easy access to major throughfares and downtown Olympia.
- Proposed 5% debt with two years of interest only through Olympic Federal Savings.
- Amenity rich community featuring a playground, basketball court, community lounge, full size washer and dryer, stainless-steel appliances.
- New construction asset priced well below replacement cost.
Property Facts
| No. Units | 82 | Lot Size | 5.72 AC |
| Property Type | Multifamily | Building Size | 82,000 SF |
| Property Subtype | Apartment | No. Stories | 4 |
| Building Class | B | Year Built | 2020 |
| Zoning | HDC-4 | ||
| No. Units | 82 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | B |
| Lot Size | 5.72 AC |
| Building Size | 82,000 SF |
| No. Stories | 4 |
| Year Built | 2020 |
| Zoning | HDC-4 |
Amenities
Unit Amenities
- Kitchen
- Oven
- Range
- Tub/Shower
Site Amenities
- Playground
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 54 | - | 792 |
| 2+2 | 1 | - | 1,123 |
| 3+1 | 8 | - | 966 |
| 3+2 | 19 | - | 1,142 |
Property Taxes
| Parcel Number | 41700100000 | Improvements Assessment | $14,879,800 |
| Land Assessment | $3,118,800 | Total Assessment | $17,998,600 |
Property Taxes
Parcel Number
41700100000
Land Assessment
$3,118,800
Improvements Assessment
$14,879,800
Total Assessment
$17,998,600
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