WA > Puyallup > Puyallup
Puyallup, WA 98371,408 N Meridian
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Puyallup, WA 98371,408 N Meridian
Puyallup, WA 98371,408 N Meridian
Puyallup, WA 98371,408 N Meridian
Puyallup, WA 98371,408 N Meridian
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Maynard Wagner

Maynard Wagner

+1(206) 369-8201
Listed by Urban Commercial Partners, LLC
$ 1,150,000
Est. payment /mo
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Active

408 N Meridian Puyallup, WA 98371

8 Beds

8 Baths

5,808 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 5,808 sqft

Price per Sqft $198

Subdivision Puyallup

MLS Listing ID 2387690

Style 55 - 5-9 Units

Bedrooms 8

Year Built 1900

Annual Tax Amount $7,454

Lot Size 6,000 Sqft

Property Sub-Type Multi Family

Property Description

Meridian Castle, located in the heart of Downtown Puyallup, presents a rare investment opportunity in a thriving market. Currently 100% occupied, the property generates $75,524 in NOI, reflecting an in-place 6.3% cap rate, with rents positioned below market expectations. Significant revenue upside exists through rent increases, utility bill-backs, storage leasing, and laundry income, all of which remain untapped by current ownership. With operational stabilization, the asset is projected to achieve a 7.45% proforma cap rate, reinforcing its long-term investment appeal. This property is available for sale individually or as part of a portfolio offering alongside 112 4th Ave SE, Puyallup.

Location

State WA

County Pierce

Area 81 - Puyallup

Interior

Interior Features Laminate Tile

Flooring Engineered Hardwood, Laminate, Vinyl, Carpet

Fireplace false

Exterior

Exterior Feature Stone, Stucco

View Y/N No

Roof Type Composition

Building

Lot Description Paved, Sidewalk

Sewer Sewer Connected

Water Public

New Construction No

Schools

School District Puyallup

Others

Senior Community No

Acceptable Financing Cash Out, Conventional

Listing Terms Cash Out, Conventional

Northwest MLS (NWMLS)
"Three Trees" icon indicates a listing provided courtesy of NWMLS.
agent

Maynard Wagner

Team Leader

+1(206) 369-8201

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