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120 Water St. NW offers a strong blend of value, convenience, and amenities, with an 8.7 overall expert rating, a 9 for price, a 10 for amenities, and a 9 for location. Notable features include quartz countertops, air conditioning, expansive windows, in-unit washer and dryer, and quality finishes, while nearby fitness options, pet services, and public spaces add to its appeal.
Things you’ll love
Middle school nearbyMore spaceElevatorGreat for
Social life
Wellness
Pet owners| 0BR/1.0BA | Studio | 1 bath | 438+ sqft | $1,350–$1,400 /mo | 2 units available | Call to see this unit today! (360) 742-4877 WE HAVE A MANAGERS SPECIAL : Approved Application in the month of September for a move in no later than October 2026, 1 MONTH FREE RENT All other terms remain the same. Special only good for studio units only. LIVING BETTER IS EVERYONE'S DREAM and we found the DREAM view location! Named for the tree found near coastal waters, the Pacific Madrone symbolizes both beauty and enduring strength. The Madrone Apartments will echo those qualities for the Percival Landing corner of State Ave. and Water St. in downtown Olympia to become the place that you want to call home. Quality finishes include, brick exterior, expansive windows for the view, trending dual colored cabinetry, quartz countertops, in unit washer and dryer, and don't forget, air conditioning in every unit. Pet friendly building with a dog walking station on the roof top coming this summer! Limited parking for a monthly fee is also available. The Olympia locals agree that The Madrone is 10/10 walkability to local business, shopping, and numerous food options. You won’t be let down by the convenient location boasting the views of Budd Inlet, Capitol Lake, and the Capitol Rotunda Peak. This studio is tucked on the back SE side. This studio has a efficient kitchen and is ADA accessible. Huge bathroom, No carpet anywhere in unit, AC unit, stackable washer and dryer, high ceilings. GYM access to all tenants 24/7. The Madrone Features: • Air-Conditioning • In-Unit Washer and Dryer • Pet-Friendly • Luxury Vinyl Flooring, NO Carpet • Beautiful Water Views in Select Units • Large Windows • Quartz Countertops and Stainless Appliances • Elevator Access • Dog-Walk Area • Rooftop Community Area, Includes Seating + Fire Pit. Amazing Views of the Puget Sound, The Capitol Building, and Downtown Olympia. • Onsite Parking Available for Rent • Gym Downstairs with 24/7 Access Requirements include: •No smoking •12-month lease required •Application fee: $50.00 (non-refundable) •Deposit: 1 months’ rent. 25% of this amount is due at approval process to secure unit. •Pet Friendly with deposit: 25% of 1 months’ rent PER ANIMAL. •ANIMAL RENT: $50.00 monthly per cat, $35.00 monthly per dog •Cats and Dogs only. NO other animal approved. •Tenants pay water/sewer/garbage $120.00 (monthly) •Parking: $90.00 monthly through building if available OR annually through the cityofolympia. org view their boundary map and fees. •Proof of renters insurance required Minimum credit score of 680 Can apply online @ urbanolympia. com Call Teri to schedule 360-742-4877 | |
| 1BR/1.0BA | 1 bed | 1 bath | 644 sqft | $1,775 /mo | 1 unit available | Call to see this unit today! (360) 742-4877 LIVING BETTER IS EVERYONE'S DREAM and we found the DREAM view location! Named for the tree found near coastal waters, the Pacific Madrone symbolizes both beauty and enduring strength. The Madrone Apartments will echo those qualities for the Percival Landing corner of State Ave. and Water St. in downtown Olympia to become the place that you want to call home. Quality finishes include, brick exterior, expansive windows for the view, trending dual colored cabinetry, quartz countertops, in unit washer and dryer, and don't forget, air conditioning in every unit. Pet friendly building with a dog walking station on the roof top coming this summer! Limited parking for a monthly fee is also available. The Olympia locals agree that The Madrone is 10/10 walkability to local business, shopping, and numerous food options. You won’t be let down by the convenient location boasting the views of Budd Inlet, Capitol Lake, and the Capitol Rotunda Peak. This studio is tucked on the back SE side. This studio has a efficient kitchen and is ADA accessible. Huge bathroom, No carpet anywhere in unit, AC unit, stackable washer and dryer, high ceilings. GYM access to all tenants 24/7. The Madrone Features: • Air-Conditioning • In-Unit Washer and Dryer • Pet-Friendly • Luxury Vinyl Flooring, NO Carpet • Beautiful Water Views in Select Units • Large Windows • Quartz Countertops and Stainless Appliances • Elevator Access • Dog-Walk Area • Rooftop Community Area, Includes Seating + Fire Pit. Amazing Views of the Puget Sound, The Capitol Building, and Downtown Olympia. • Onsite Parking Available for Rent • Gym Downstairs with 24/7 Access Requirements include: •No smoking •12-month lease required •Application fee: $50.00 (non-refundable) •Deposit: 1 months’ rent. 25% of this amount is due at approval process to secure unit. •Pet Friendly with deposit: 25% of 1 months’ rent PER ANIMAL. •ANIMAL RENT: $50.00 monthly per cat, $35.00 monthly per dog •Cats and Dogs only. NO other animal approved. •Tenants pay water/sewer/garbage $120.00 (monthly) •Parking: $90.00 monthly through building if available OR annually through the cityofolympia. org view their boundary map and fees. •Proof of renters insurance required Minimum credit score of 680 Can apply online @ urbanolympia. com Call Teri to schedule 360-742-4877 |
Let's explore this property.
Apartment Amenities
| Air Conditioning |
Appliances
| Dishwasher | In-Unit Laundry |
| Oven | Range |
| Refrigerator | Stove/Oven |
| Washer and Dryer |
Building
| Cats OK | Dogs OK |
| Elevator | Fitness Center |
| Onsite Gym | Rooftop Access |
Grounds
| Assigned Parking |
One-time.
One-time. Refundable.
Assigned Parking
Questions about this property’s policies and fees?
| Units | 60 |
|---|
Call to see this unit today! (360) 742-4877 LIVING BETTER IS EVERYONE'S DREAM and we found the DREAM view location! Named for the tree found near coastal waters, the Pacific Madrone symbolizes both beauty and enduring strength. The Madrone Apartments will echo those qualities for the Percival Landing corner of State Ave. and Water St. in downtown Olympia to become the place that you want to call home. Quality finishes include, brick exterior, expansive windows for the view, trending dual colored cabinetry, quartz countertops, in unit washer and dryer, and don't forget, air conditioning in every unit. Pet friendly building with a dog walking station on the roof top coming this summer! Limited parking for a monthly fee is also available. The Olympia locals agree that The Madrone is 10/10 walkability to local business, shopping, and numerous food options. You won’t be let down by the convenient location boasting the views of Budd Inlet, Capitol Lake, and the Capitol Rotunda Peak. This studio is tucked on the back SE side. This studio has a efficient kitchen and is ADA accessible. Huge bathroom, No carpet anywhere in unit, AC unit, stackable washer and dryer, high ceilings. GYM access to all tenants 24/7. The Madrone Features: • Air-Conditioning • In-Unit Washer and Dryer • Pet-Friendly • Luxury Vinyl Flooring, NO Carpet • Beautiful Water Views in Select Units • Large Windows • Quartz Countertops and Stainless Appliances • Elevator Access • Dog-Walk Area • Rooftop Community Area, Includes Seating + Fire Pit. Amazing Views of the Puget Sound, The Capitol Building, and Downtown Olympia. • Onsite Parking Available for Rent • Gym Downstairs with 24/7 Access Requirements include: •No smoking •12-month lease required •Application fee: $50.00 (non-refundable) •Deposit: 1 months’ rent. 25% of this amount is due at approval process to secure unit. •Pet Friendly with deposit: 25% of 1 months’ rent PER ANIMAL. •ANIMAL RENT: $50.00 monthly per cat, $35.00 monthly per dog •Cats and Dogs only. NO other animal approved. •Tenants pay water/sewer/garbage $120.00 (monthly) •Parking: $90.00 monthly through building if available OR annually through the cityofolympia. org view their boundary map and fees. •Proof of renters insurance required Minimum credit score of 680 Can apply online @ urbanolympia. com Call Teri to schedule 360-742-4877
How 120 Water St. NW compares to other nearby properties.
Positives
Studio apartments at 120 Water St. NW cost about 8% more than the average rent price for studios in Downtown Olympia.
1-bedroom apartments here are priced 15% higher than 1-bedrooms in Downtown Olympia.
| Month | Median Rent |
|---|---|
| September 2024 | $1,275 |
| October 2024 | $1,281 |
| November 2024 | $1,281 |
| December 2024 | $1,284 |
| January 2025 | $1,288 |
| February 2025 | $1,285 |
| March 2025 | $1,288 |
| April 2025 | $1,275 |
| May 2025 | $1,280 |
| June 2025 | $1,256 |
| July 2025 | $1,255 |
| August 2025 | $1,294 |
| September 2025 | $1,314 |
| October 2025 | $1,292 |
| November 2025 | $1,306 |
| December 2025 | $1,299 |
| January 2026 | $1,277 |
| February 2026 | $1,271 |
| March 2026 | $1,250 |
| April 2026 | $1,238 |
| May 2026 | $1,252 |
| June 2026 | $1,295 |
| July 2026 | $1,281 |
| August 2026 | $1,282 |
| September 2026 | $1,271 |
| Month | Median Rent |
|---|---|
| September 2024 | $1,300 |
| October 2024 | $1,299 |
| November 2024 | $1,265 |
| December 2024 | $1,266 |
| January 2025 | $1,276 |
| February 2025 | $1,278 |
| March 2025 | $1,280 |
| April 2025 | $1,275 |
| May 2025 | $1,275 |
| June 2025 | $1,275 |
| July 2025 | $1,275 |
| August 2025 | $1,281 |
| September 2025 | $1,291 |
| October 2025 | $1,282 |
| November 2025 | $1,297 |
| December 2025 | $1,284 |
| January 2026 | $1,271 |
| February 2026 | $1,239 |
| March 2026 | $1,205 |
| April 2026 | $1,211 |
| May 2026 | $1,250 |
| June 2026 | $1,268 |
| July 2026 | $1,244 |
| August 2026 | $1,260 |
| September 2026 | $1,250 |
Can I afford to live at 120 Water St Nw?
Bedrooms
Rent-to-income ratio
30%
$54,000/yr
7299 new market st sw bldge e
tumwater, WA, 98501
411 6th ave ne
lacey, WA, 98516
305 college st ne
lacey, WA, 98516
111 tumwater blvd se
tumwater, WA, 98501
6530 33rd ave nw
olympia, WA, 98502
4822 Rural Road Southwest
1–3 Beds
$1,745–$2,595
Downtown Olympia • 321 Legion Way Se
Studio–2 Beds
$1,300–$2,150
Downtown Olympia • 322 5th Ave Se
Studio–1 Bed
$1,275–$1,725
4822 Rural Road Southwest
1–3 Beds
$1,745–$2,595
Downtown Olympia • 321 Legion Way Se
Studio–2 Beds
$1,300–$2,150
Downtown Olympia • 322 5th Ave Se
Studio–1 Bed
$1,275–$1,725
