Updated Feb 20, 2026
Merritt Manor LLC Acquires Merritt Manor Multifamily In Olympia For $19.5M
3335 Martin Way East
$19,500,000
Units
82
Asset Type
MultiFamily
Closing
Feb 20, 2026
About this deal
AI
The asset involved in this transaction is Merritt Manor, a mid-rise apartment community located at 3335 Martin Way East, Olympia, WA. The property consists of 82 units and has a transaction value of $19,500,000, which translates to a price per unit of $237,805. The community features luxury amenities and was built in 2020.
Summary of transation details:
- Property Type: MultiFamily
- Transaction Amount: $19,500,000
- Address: 3335 Martin Way East
- Market: Olympia, WA
- Units: 82
- PPU: $237,805
- Buyer: Merritt Manor LLC
- Seller: Fourth Street’s Merritt Manor LLC
- Brokers: Joe Kinkopf, Steve Fischer & Tyler Smith - NorthMarq
NorthMarq facilitated the sale of the property, showcasing the involvement of a team of brokers who played a crucial role in this transaction.
Players
Olympia MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.81%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93