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Garden Square Apartments

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Garden Square Apartments

219 5th Ave NE, Puyallup, WA 98372
Multi-Family For Sale Available Built 1963 2 floors Zoning: City of Puyallup
Asking Price
$4,574,900
Total Building20,792 SF
Available20,792 SF avail
Land23,318 SF land
Parking Total20
& Uncov.
MarketPuyallup/Sumner
CountyPierce

Read Overview
Contact the Muljat Team about this listing.

Overview

Property ID
304269
Listing ID
699566
Type
Multi-Family
Asset Class
Multi-Family
Zoning
City of Puyallup

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%!

Listing Courtesy of:

RK
Rich Kim
Lumin Brokers of Washington
2018 156th Ave NE,
Bellevue, WA 98007
State: WA City: Puyallup ZIP: 98372 Type: For Sale

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Disclaimer: The information contained in this listing has not been verified by Muljat Commercial and should be verified by the buyer.