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321 Lofts & Franklin Loft Apartments 2 Multifamily Properties in Olympia, WA
INVESTMENT HIGHLIGHTS
- Attractive assumable debt at 3.38% rate through May, 2031
- Highly walkable 50 Yard Line Historic District location
- Quality construction with rental upside
- Strong employment and lack of new supply bolster submarket fundamentals
- Superb neighborhood demographics driven by close proximity to top employers
EXECUTIVE SUMMARY
Two adjacent apartment communities in the heart of downtown Olympia | 55 TOTAL UNITS
TAXES & OPERATING EXPENSES (ACTUAL - 2024) |
ANNUAL (CAD) |
|---|---|
| Gross Rental Income |
$1,178,524
|
| Other Income |
$544,107
|
| Vacancy Loss |
-
|
| Effective Gross Income |
$1,722,631
|
| Taxes |
$99,194
|
| Operating Expenses |
$406,807
|
| Total Expenses |
$506,001
|
| Net Operating Income |
$1,216,629
|
TAXES & OPERATING EXPENSES (ACTUAL - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $1,178,524 |
| Other Income (CAD) | |
|---|---|
| Annual | $544,107 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $1,722,631 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,194 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $406,807 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $506,001 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $1,216,629 |
PROPERTY FACTS
| Sale Type | Investment | Individually For Sale | 0 |
| Status | Active | Total Building Size | 78,419 SF |
| Number of Properties | 2 | Total Land Area | 1.03 AC |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 78,419 SF |
| Total Land Area | 1.03 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
|
321 Lofts
321 Legion Way, Olympia, WA 98501 |
Multifamily | 51,859 SF | 2016 | - |
|
Franklin Lofts
600 Franklin St SE, Olympia, WA 98501 |
Multifamily | 26,560 SF | 1967 | - |
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321 Lofts & Franklin Loft Apartments
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