The Rex is centrally located in the heart of Downtown Olympia, offering immediate access to the State Capitol campus and the Port of Olympia, while being only a 20-minute drive from Joint Base Lewis–McChord.

The property features 18 residential units—comprising studio, one-bedroom, and two-bedroom layouts—along with six ground-floor retail spaces, providing diversified income in a character-rich historic building.

Current asking rents demonstrate exceptional market strength, with a 93.5% increase since 2015 and 22.9% growth since 2021 alone.

The Rex’s ground-floor retail spaces generate over $154,000 in annual commercial income, anchored by long-term leases with built-in 3% annual rent increases. The retail tenant mix includes a popular Thai restaurant and a neighborhood favorite pizza spot, drawing consistent foot traffic.

In-place rents account for just 14.87% of the average household income, indicating strong affordability for tenants and clear potential for future rent increases.

The Rex is strategically positioned near the Port of Olympia, which is driving regional economic and infrastructure expansion through its Vision 2050 Action Plan, supporting long-term investment, job creation, and enhanced community amenities.

At 95.8% The Rex outperforms the submarket average of 94.2%, reflecting strong tenant demand and operational stability.

The surrounding area shows 55% renter-occupied housing within one mile—significantly higher than the 32% metro average.

Assessed value dropped $200,000 in 2026, lowering current property taxes (buyers should plan for reassessment post-acquisition).