New ListingJUST 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.
| MLS # | 2589855 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1963 |
| Days On Site | 3 |
| Listing Provided By | Kidder Mathews | David A. Kelley |
| SQ Feet | 18,594 |
|---|---|
| Story(s) | 2 |
| Units | 21 |
| Zoning | Multi-Family |
| Acreage | 0.54 |
| Property | 42224 |
|---|
| State | WA |
|---|---|
| County | Pierce |
| City | Puyallup |
| Zip Code | 98372 |
| Area | 83 Puyallup |
| Community Name | Puyallup |
| Listing VS Median (in Puyallup) | |
Price: $4,000,000 low | high Med: $589,950 sqft: 18,594 low | high Med: 2,213 $ / sqft: $215 low | high Med: $267 On site: 3 low | high Med: 60 | |
| State | WA |
|---|---|
| County | Pierce |
| City | Puyallup |
| Zip Code | 98372 |
| Area | 83 Puyallup |
| Community Name | Puyallup |
| Listing VS Median (in Puyallup) | |
Price: $4,000,000 low | high Med: $589,950 sqft: 18,594 low | high Med: 2,213 $ / sqft: $215 low | high Med: $267 On site: 3 low | high Med: 60 | |