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Listed by:Lumin Brokers of Washington • Rich Kim

$4,549,900

Est. payment - /mo

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42 Beds

21 Baths

18,594 SqFt

Active

219 5th AVE NE Puyallup, WA 98372

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Ryan Born

ryan@born-realty.com +1(206) 498-0342

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 18,594 sqft

Price per Sqft $244

Subdivision Downtown

MLS Listing ID 2403003

Style 56 - 10+ Units

Bedrooms 42

Year Built 1963

Annual Tax Amount $40,279

Lot Size 0.535 Acres

Property Sub-Type Multi Family

Property Description

Garden Square Apartments is a renovated multi-family building ideally located in the heart of Puyallup, WA comprised of two 1BD/1BA, eighteen 2BD/1BA, and one 4BD/1.5BA units. With a Walk Score of 87 out of 100 it has excellent proximity to shopping, entertainment districts and restaurants. This community is an attractive destination for vacations, business trips and urban professionals making it a unique opportunity for short-and long-term rentals alike. This investment offers a unique opportunity to add value without any updates to the building or units. The rents are significantly below market and can be increased by an average of 14% to meet current market rents. Current Cap Rate of 6.03% would be raised to 7.28%! DO NOT DISTURB TENANTS

Location

State WA

County Pierce

Area 83 - Puyallup

Interior

Flooring Laminate, Carpet

Fireplace false

Exterior

Exterior Feature Wood Products

Amenities Available Cable TV, Fenced-Partially

View Y/N Yes

View Territorial

Roof Type Composition

Building

Lot Description Corner Lot, Curbs, Paved, Sidewalk

Sewer Sewer Connected

Water Public

New Construction No

Schools

School District Puyallup

Others

Senior Community No

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Virtual Tour https://home.quickpictours.com/videos/0197c74a-a257-7161-91fa-1bbfe27d74af

"Three Trees" icon indicates a listing provided courtesy of NWMLS.

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