219 5th AVE NE new to site Save Request In-Person Tour Request Virtual Tour
Puyallup,WA 98372
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 $247
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 5.97% would be raised to 7.20%!
Location
State WA
County Pierce
Area 83 - Puyallup
Interior
Flooring Laminate,Carpet
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
Acceptable Financing Cash Out,Conventional
Listing Terms Cash Out,Conventional
Virtual Tour https://home.quickpictours.com/videos/0197c74a-a257-7161-91fa-1bbfe27d74af