Olympic Apartments, 231 Franklin St., is now under the management of Neighbors of Watertown.

The nonprofit agency is responsible for rental management, repairs and accounting for the 40-unit building.

"We're basically running it the same as if it was one of our own buildings," said Gary C. Beasley, Neighbors executive director. "Nothing has changed as far as ownership."

The building is owned by Olympic Apartments Associates and oversight is provided by the Henry Keep Home board of directors.