New Listing
$4,000,000
 $21,473 est/mo Sourced by Back At You

219 5th Street,Puyallup, WA 98372

Puyallup, WA 98372

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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.

Details

MLS #2589855
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year1963
Days On Site3
Listing Provided ByKidder Mathews | David A. Kelley

Features

SQ Feet18,594
Story(s)2
Units21
ZoningMulti-Family
Acreage0.54

Taxes

Property42224

Area Information

StateWA
CountyPierce
CityPuyallup
Zip Code98372
Area83 Puyallup
Community NamePuyallup
Listing VS Median (in Puyallup)
Price:
$4,000,000
low | high
Med:
$589,950
100% of Average
sqft:
18,594
low | high
Med:
2,213
100% of Average
$ / sqft:
$215
low | high
Med:
$267
26.078509941256% of Average
On site:
3
low | high
Med:
60
5% of Average
Sourced by Back At You

Market Activity 98372

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Based on information submitted to the MLS GRID as of October 4, 2026 at 5:15:50 AM PDT. 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.

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Learn More About This Property

StateWA
CountyPierce
CityPuyallup
Zip Code98372
Area83 Puyallup
Community NamePuyallup
Listing VS Median (in Puyallup)
Price:
$4,000,000
low | high
Med:
$589,950
100% of Average
sqft:
18,594
low | high
Med:
2,213
100% of Average
$ / sqft:
$215
low | high
Med:
$267
26.078509941256% of Average
On site:
3
low | high
Med:
60
5% of Average
Sourced by Back At You
Listing Updated: October 1, 2026 at 5:29:31 PM PDT