1204 1218 7th Avenue SE, Puyallup, WA 98372
- $2,340,000
- 7,080
- SqFt
Listing courtesy of Northmarq Commercial, LLC. Selling Office: Northmarq Commercial, LLC.
- Sold Price
- $2,340,000
- List Price
- $2,450,000
- Status
- SOLD
- MLS#
- 2173435
- Closing Date
- Dec 28, 2023
- Days on Market
- 11
- Style
- 52 - Duplex
- Finished SqFt
- 7,080
- Area Total SqFt
- 7080
- Annual Tax Ammount
- 17827
- Lot Size (sq ft)
- 32,330
- Sewer
- Sewer Connected
Property Description
Built in 1970, the Puyallup Flats is a duplex style, fully renovated, prime investment opportunity in the Downtown Puyallup submarket of Washington. All units are fully remodeled 2/1 layouts with in-unit full size Washer Dryer and attached garage. Each duplex is on its own tax parcel and situated on a 32,330 SF lot, the Puyallup Flats offers 8 two-bedroom units each measuring approximately 885 SF, totaling a NRSF of 7,080. The interiors have undergone recent renovations, featuring new kitchen cabinets, quartz CT, stainless-steel appliances, W/D in a dedicated laundry room, upgraded flooring, etc. The Puyallup Flats are situated in an area characterized by a stable vacancy rate that is lower than the submarket’s pre-pandemic average.
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Additional Information
- List Date
- 2023-12-17 00:00:00
- Community
- Puyallup
- Net Operating Income
- $161,378
- Gross Adjusted Income
- $214,434
- Gross Scheduled Income
- $225,720
- Total Monthly Income
- $18,810
- Insurance Expenses
- $3,082
- Water/Sewer/Garbage Expenses
- $7,825
- Gross Rent Multiplier
- 10.85
- Total Expenses
- $53,056
- Cap Rate
- 6.59
- Vacancy Rate
- 5
- Total Number of Units
- 9
- Unit Name
- 1204 1218
- Potential Terms
- Cash Out, Conventional
- Year Built
- 1970
- Roof
- Composition
- Site Features
- Fenced-Fully, Patio
- Other Expenses
- 24322
- Energy Source
- Electric
- School District
- Puyallup
- Total Monthly Income
- $18,810
- Gross Scheduled Income
- $225,720
- Vacancy Rate
- 5
- Gross Adjusted Income
- $214,434
- Tax Year
- 2023
- Insurance Expense
- $3,082
- W/S/G Expenses
- $7,825
- Total Expenses
- $53,056
- Net Operating Income
- $161,378
- Gross Rent Multiplier
- 10.85
- Cap Rate
- 6.59
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.