219 5th Street, Puyallup, WA 98372
219 5th Street, Puyallup, WA 98372
219 5th Street, Puyallup, WA 98372
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Katie Grimoldby

Katie Grimoldby

+1(253) 318-5676
Listed by:Kidder Mathews • David A. Kelley
$4,000,000
Est. payment /mo
42 Beds
21 Baths
0.54 Acres Lot
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Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Subdivision Puyallup

MLS Listing ID 2589855

Style 56 - 10+ Units

Bedrooms 42

Year Built 1963

Annual Tax Amount $42,224

Lot Size 0.535 Acres

Property Sub-Type Multi Family

Property Description

JUST LISTED - Garden Square apartments, a 21-unit multifamily property centrally located at 219 12th Ave SE, Puyallup, WA 98372. Featuring large average floor plans of 934 SF — well above typical unit sizes for comparable product in the submarket — Garden Square provides a clear value-add pathway through a continued renovation program, including updated kitchens, bathrooms, flooring, and modern finishes tailored to today's renter expectations. New ownership can continue this in-place renovation strategy to increase monthly rents by approximately 12%, unlocking substantial gains in net operating income as units turn. In addition to its generously sized floor plans, the property benefits from a centralized Puyallup location, offering convenient access to neighborhood retail / employment centers / downtown Puyallup, positioning the asset to appeal to a broad renter base seeking larger, more livable units at accessible rents. Garden Square represents a high-quality foundation for continued value - add execution, with Garden Square's oversized unit layouts serving as a key differentiator from the market's typical unit mix. Its size, location, and renovation runway make it well-suited to support both existing tenant retention and rent growth as the improvement program continues.

Location

State WA

County Pierce

Area 83 - Puyallup

Interior

Flooring Vinyl Plank

Fireplace false

Exterior

Exterior Feature Wood Products

View Y/N No

Roof Type Composition

Building

Sewer Sewer Connected

New Construction No

Schools

School District Puyallup

Others

Senior Community No

Acceptable Financing Conventional

Listing Terms Conventional

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Katie Grimoldby

Katie Grimoldby

+1(253) 318-5676

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