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… Read More 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. Read Less
Listing courtesy of Kidder Mathews
Listing Snapshot
Cumulative Days On Market
415
Days on Website
9
Last Updated
Property Type
Multi Family
Square Ft.
18,594
Lot Size
0.54 Acres
Year Built
1963
Property Tax
$42,224
MLS Number
2589855
Additional Details
Building
Built in 1963, Built in 1988 (effective), 2 stories, Construction Materials: Wood
Cooling
None
Expenses
Insurance: $23,431, Other Expense: $71,994
Exterior Features
Wood Products
Floors
Vinyl Plank
Foundation
Slab
Heating
Baseboard
Home Owner's Association
Association Fee: $0
Income
Gross ScheduledIncome: $432,524, Net Operating Income: $233,184
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. Listings last updated on ,
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