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120 Water St. NW is recognized for its high-quality finishes and modern amenities, including quartz countertops and expansive windows, earning a stellar overall Zumper expert rating of 8.7 out of 10. With a favorable price rating of 9 and an impressive amenities rating of 10, it offers competitive value in a convenient location near multiple points of interest and essential services. Additionally, the property’s pet-friendly features enhance its appeal, supported by nearby pet services and a trustworthy management approach.
Things you’ll love
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Pet owners| 0BR/1.0BA | Studio | 1 bath | 391 sqft | $1,300 /mo | 1 unit available | 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. S.E. facing studio has a galley kitchen with side "pocket areas" for storage or furniture that have a small set in area(got to see it to understand ) It keeps the open area larger. If there is ever a set of windows that allows light in even on a cloudy day you will find them in this unit. No carpet, AC unit, stackable washer and dryer, high ceilings are just a few of the details. •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. (take off market) •Pet Friendly with deposit: 25% of 1 months rent per pet Dogs are $35.00 monthly pet fee/ Cats are $ 50.00 monthly pet fee . All pet rent is NON refundable •Tenants pay water/sewer/garbage $120.00 (monthly) •Parking: $90.00 monthly through building if available OR (annually through the cityofolympia.org)1 spot per unit maximum, limited spots to less then ½ the building. •Proof of renters insurance required Minimum credit score of 680 | |
| 1BR/1.0BA | 1 bed | 1 bath | 589+ sqft | $1,650–$1,750 /mo | 3 units available | 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. S.E. facing HUGE windows holds this one bedroom which has our favorite floor plan especially in the kitchen. Eat at countertop, tons of cabinet storage, and great floor space for two cooks at a time. The laundry closet has extra storage space to keep the place tidy. NO carpet anywhere in the unit, window coverings are white roller shades for privacy, but you can still see out! All the walls are white, but wait until you see the kitchen in person, the color is fabulous! Air conditioning is installed with an energy efficient system. •No smoking •12 month lease required •Application fee: $50.00 (non refundable) •Deposit: 1 months rent+ 25% due at approval process to secure unit. (take off market) •Pet Friendly with deposit: 25% of 1 months rent per pet •Tenants pay water/sewer/garbage $120.00 (monthly) •Parking: $90.00 monthly through building if available OR (annually through the cityofolympia.org)1 spot per unit maximum, limited spots to less then ½ the building. dog pet rent $35.00 monthly cat pet rent $50.00 monthly. •Proof of renters insurance required Minimum credit score of 680 | |
| 2BR/2.0BA | 2 bed | 2 bath | 868+ sqft | $2,550–$2,600 /mo | 3 units available | 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. I have not seen this cool of a 2 bedroom 2 bath unit floor plan in a long time! The open entrance has your eye directed all the way through the unit out to the waters edge. Kitchen has an eat at countertop, tons of cabinet storage, and the natural light is epic. Each bedroom is separated from each other for privacy. NO carpet anywhere in the unit, window coverings are white roller shades for privacy, but you can still see out! All the walls are white, but wait until you see the kitchen in person, the color is fabulous! Air conditioning is installed with an energy efficient system. By the way 3rd/4th/5th floor has epic water and park views! •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. (take off market) •Pet Friendly with deposit: 25% of 1 months rent per pet dog rent, $35 monthly. Cat rent, $50 monthly. •Tenants pay water/sewer/garbage $120.00 (monthly) •Parking: $90.00 monthly through building if available OR (annually through the cityofolympia.org)1 spot per unit maximum, limited spots to less then ½ the building. •Proof of renters insurance required Minimum credit score of 680 |
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 |
| Rooftop Access |
One-time.
One-time. Refundable.
Questions about this property’s policies and fees?
| Units | 60 |
|---|
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. S.E. facing HUGE windows holds this one bedroom which has our favorite floor plan especially in the kitchen. Eat at countertop, tons of cabinet storage, and great floor space for two cooks at a time. The laundry closet has extra storage space to keep the place tidy. NO carpet anywhere in the unit, window coverings are white roller shades for privacy, but you can still see out! All the walls are white, but wait until you see the kitchen in person, the color is fabulous! Air conditioning is installed with an energy efficient system. •No smoking •12 month lease required •Application fee: $50.00 (non refundable) •Deposit: 1 months rent+ 25% due at approval process to secure unit. (take off market) •Pet Friendly with deposit: 25% of 1 months rent per pet •Tenants pay water/sewer/garbage $120.00 (monthly) •Parking: $90.00 monthly through building if available OR (annually through the cityofolympia.org)1 spot per unit maximum, limited spots to less then ½ the building. dog pet rent $35.00 monthly cat pet rent $50.00 monthly. •Proof of renters insurance required Minimum credit score of 680
How 120 Water St. NW compares to other nearby properties.
Positives
Studio apartments at 120 Water St. NW cost about 1% more than the average rent price for studios in Downtown Olympia.
1-bedroom apartments here are priced 10% higher than 1-bedrooms in Downtown Olympia.
If you decide to upgrade your space, you can expect 2-bedrooms at 120 Water St. NW to be 19% more than the average for similarly sized apartments in Downtown Olympia.
| Month | Median Rent |
|---|---|
| December 2023 | $1,231 |
| January 2024 | $1,250 |
| February 2024 | $1,233 |
| March 2024 | $1,218 |
| April 2024 | $1,220 |
| May 2024 | $1,253 |
| June 2024 | $1,295 |
| July 2024 | $1,297 |
| August 2024 | $1,266 |
| September 2024 | $1,237 |
| 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 | $1,300 |
| Month | Median Rent |
|---|---|
| December 2023 | $1,300 |
| January 2024 | $1,289 |
| February 2024 | $1,280 |
| March 2024 | $1,315 |
| April 2024 | $1,300 |
| May 2024 | $1,295 |
| June 2024 | $1,295 |
| July 2024 | $1,297 |
| August 2024 | $1,300 |
| September 2024 | $1,290 |
| 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 | $1,290 |
Can I afford to live at 120 Water Street Northwest?
Bedrooms
Rent-to-income ratio
30%
$52,000/yr
Downtown Olympia • 323 4th Ave E
Studio–1 Bed
$1,190–$1,225
Downtown Olympia • 215 Columbia Street Northwest
1 Bed
$1,500–$1,600
Downtown Olympia • 322 5th Ave Se
Studio–1 Bed
$1,290–$1,625
Downtown Olympia • 321 Legion Way Se
1–2 Beds
$1,600–$2,100
4822 Rural Road Southwest
1–3 Beds
$1,745–$2,595
Downtown Olympia • 323 4th Ave E
Studio–1 Bed
$1,190–$1,225
Downtown Olympia • 215 Columbia Street Northwest
1 Bed
$1,500–$1,600
Downtown Olympia • 322 5th Ave Se
Studio–1 Bed
$1,290–$1,625
Downtown Olympia • 321 Legion Way Se
1–2 Beds
$1,600–$2,100
4822 Rural Road Southwest
1–3 Beds
$1,745–$2,595
