$4,574,900

0 Beds 0 Baths 18,594 SQFT 0.54 Acres

Type: Multi-Family

219 5th Avenue NE
Puyallup, WA 98372

MLS#: 2403003

Presented by: Lumin Brokers of Washington and NWMLS

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 6.00% would be raised to 7.24%! DO NOT DISTURB TENANTS

Interior Features

Bedrooms

Bedrooms Upper0

Bathrooms

Baths Full Upper0

Baths Half Upper0

Baths Three Quarter Upper0

Other Interior Features

Air Conditioning Y/NNo

Fireplace Y/NNo

FlooringLaminate, Carpet

Heating Y/NYes

Power Production TypeElectric

Total Fireplaces0

Total Stories2

General

AmenitiesCoin Op Laundry

Building Area Units0 sqft

Cap Rate6

Carport Spaces0

Carport Y/NNo

CityPuyallup

CoolingNone

CountyPierce

DirectionsFrom N Meridian turn East onto 5th Ave NE. Property is on the left.

Electric Expense0

Fuel Expense0

HOANo

HOA Fee$0

HeatingBaseboard

High School DistrictPuyallup

Insurance Expense22670.28

Leasable Area18,594 sqft

Listing TermsCash Out, Conventional

Living Area0 sqft

Lot Size Square Feet23,319 sqft

Lot Size UnitsSquare Feet

MLS Area83 - Puyallup

NWM_ShowMapLinkY

Net Operating Income274491

New ConstructionNo

Number Of Units Total21

Open Parking Spaces20

PossessionSubject to Tenant Rights

Possible UseMulti-Family

Property ConditionGood

Property Style56 - 10+ Units

Property SubtypeMulti Family

Property TypeResidential Income

Public RemarksGarden 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 ou

RoofComposition

Security FeaturesPartially Fenced

Senior Community Y/NNo

SewerSewer Connected

Special Listing ConditionsNone

Standard StatusActive

StatusActive

Structure TypeMulti Family

Subdivision NameDowntown

Tax Annual Amount$40,279

Tax Year2025

Units Below Gradefalse

Units In Building Total21

ViewTerritorial

Virtual TourClick here

Water CompanyCity of Puyallup

Water Sewer Garbage42000

Year Built1963

Zoning DescriptionMulti-Family

Exterior

Building Area Total18,594 sqft

Covered Spaces0

Exterior AmenitiesWood Products

Foundation DetailsPoured Concrete

Irrigation Water Rights Y/NNo

Lot FeaturesCorner Lot, Curbs, Paved, Sidewalk

Lot Size Acres0.5353

Parking Uncovered Spaces20

Site FeaturesCable TV, Fenced-Partially

Total Parking20

Water SourcePublic

Waterfront Y/NNo

Additional Details

Price History

Schools

Middle School N/A

High School N/A

Elementary School N/A

Similar Properties

$4,574,900

0 Beds 0 Baths 18,594 SQFT 0.54 Acres

Type: Multi-Family

219 5th Avenue NE
Puyallup, WA 98372

MLS#: 2403003

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Property

$4,574,900

219 5th Avenue NEPuyallup, WA 98372

Property Description

Interior Features

Bedrooms

Bathrooms

Other Interior Features

General

Exterior

Additional Details

Price History

Schools

Similar Properties

$4,574,900

219 5th Avenue NEPuyallup, WA 98372

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219 5th Avenue NE
Puyallup, WA 98372

219 5th Avenue NE
Puyallup, WA 98372