916 40th Avenue SW, Puyallup, WA 98373
- $649,950
- 1,750
- SqFt
Listing courtesy of Northwest Premier Brokers.
- List Price
- $649,950
- Status
- ACTIVE
- MLS#
- 2539983
- Days on Market
- 40
- Style
- 52 - Duplex
- Building Condition
- Good
- Finished SqFt
- 1,750
- Area Total SqFt
- 1750
- Annual Tax Ammount
- 5820.84
- Internet Provider
- Xfinity
- Lot Size (sq ft)
- 13,561
- Sewer
- Septic Tank
Property Description
Rare investment opportunity in Puyallup's desirable South Hill. This well-maintained duplex with long term tenants has never been vacant during the sellers ownership. It offers stable income today with a clear path to increased returns. Both units include large fully fenced yards with decks, attached 1-car garages and additional driveway parking. The property has enjoyed exceptional occupancy with long-term tenants. Current rents are slightly below market, providing a value-add opportunity for the next owner. Existing leases are month to month, allowing a defined timeline for potential rent increases and improved cash flow for new owner or owner occupancy with proper notice. New countertops are currently being installed throughout both units and are not reflected in the current photos. Tenants enjoy a single-family-home feel with the large fenced backyards, contributing to strong retention and consistent rental demand. Conveniently located near SR-512, shopping, dining, parks and schools. As an added investment opportunity, the purchaser of this duplex will be given the first rights to purchase the seller's adjacent duplex, creating the potential to expand ownership to four units in one prime location. Whether you're completing a 1031 exchange, expanding an existing portfolio, or just entering the multifamily market, this property offers great stability, future income and equity growth potential and a unique opportunity with a proven and reliable rental property.
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Additional Information
- List Date
- 2026-06-16 16:26:13
- Community
- South Hill
- Net Operating Income
- $32,455
- Gross Adjusted Income
- $42,000
- Gross Scheduled Income
- $42,000
- Insurance Expenses
- $1,339
- Water/Sewer/Garbage Expenses
- $2,384
- Gross Rent Multiplier
- 15.5
- Total Expenses
- $9,545
- Cap Rate
- 5
- Total Number of Units
- 2
- Unit Name
- 916
- Potential Terms
- Cash, Conventional, FHA, VA Loan
- Year Built
- 1992
- Roof
- Composition
- Site Features
- Fenced-Fully, Outbuildings
- Energy Source
- Natural Gas
- School District
- Puyallup
- Elementary School
- Edward Zeiger Elem
- Middle School
- Ballou Jnr High
- High School
- Gov John Rogers Hs
- Gross Scheduled Income
- $42,000
- Gross Adjusted Income
- $42,000
- Tax Year
- 2026
- Insurance Expense
- $1,339
- W/S/G Expenses
- $2,384
- Total Expenses
- $9,545
- Net Operating Income
- $32,455
- Gross Rent Multiplier
- 15.5
- Cap Rate
- 5
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.