219 5th Avenue NE, Puyallup, WA 98372
- $4,549,900
- 18,594
- SqFt
Listing courtesy of Lumin Brokers of Washington.
- List Price
- $4,549,900
- Status
- ACTIVE
- MLS#
- 2403003
- Price Change
- ▼ $25,000 1778122542
- Days on Market
- 383
- Style
- 56 - 10+ Units
- Building Condition
- Good
- Finished SqFt
- 18,594
- Area Total SqFt
- 18594
- Annual Tax Ammount
- 40279
- Lot Size (sq ft)
- 23,319
- Sewer
- Sewer Connected
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
/u.realgeeks.media/pnwcasas/PNWCasas_BLK_Logo.jpg){kind=logo}
Additional Information
- List Date
- 2025-07-09 00:13:11
- Community
- Downtown
- Net Operating Income
- $274,491
- Gross Adjusted Income
- $439,440
- Gross Scheduled Income
- $439,440
- Total Monthly Income
- $36,620
- Insurance Expenses
- $22,670
- Water/Sewer/Garbage Expenses
- $42,000
- Gross Rent Multiplier
- 11.42
- Total Expenses
- $164,949
- Cap Rate
- 6.03
- Total Number of Units
- 21
- Unit Name
- 219
- Potential Terms
- Cash, Conventional
- Year Built
- 1963
- View
- Territorial
- Roof
- Composition
- Site Features
- Cable TV, Fenced-Partially
- Other Expenses
- 60000
- Energy Source
- Electric
- School District
- Puyallup
- Total Monthly Income
- $36,620
- Gross Scheduled Income
- $439,440
- Gross Adjusted Income
- $439,440
- Tax Year
- 2025
- Insurance Expense
- $22,670
- W/S/G Expenses
- $42,000
- Total Expenses
- $164,949
- Net Operating Income
- $274,491
- Gross Rent Multiplier
- 11.42
- Cap Rate
- 6.03
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.