425 4th Street NE, Puyallup, WA 98372
- $3,400,000
Listing courtesy of Northmarq Multifamily, LLC. Selling Office: ZNonMember-Office-MLS.
- Sold Price
- $3,400,000
- List Price
- $3,550,000
- Status
- SOLD
- MLS#
- 2384784
- Closing Date
- Oct 17, 2025
- Days on Market
- 85
- Style
- 56 - 10+ Units
- Annual Tax Ammount
- 27249
- Lot Size (sq ft)
- 28,838
- Sewer
- Septic Tank
Property Description
We are pleased to present Prestige Townhomes, a well-maintained 1980 vintage asset located in Puyallup, WA. This 12-unit property features spacious, turnkey 2-bedroom, 1.5 bath townhomes with in-unit laundry averaging 940 SF. Each unit is equipped with modern finishes, including vinyl plank flooring, quartz countertops, stainless-steel appliances, and copper plumbing. The property currently achieves an average rent of $2,052 per unit, with the highest rent at $2,300 and two additional units rented at $2,195. With market rents exceeding current levels, there is a clear path to increase average rents by approximately $150/unit, to potentially $248/unit unlocking additional revenue potential for new ownership.
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Additional Information
- List Date
- 2025-07-24 00:00:00
- Community
- Puyallup
- Net Operating Income
- $226,471
- Gross Adjusted Income
- $280,782
- Gross Scheduled Income
- $295,560
- Total Monthly Income
- $25,737
- Insurance Expenses
- $3,135
- Water/Sewer/Garbage Expenses
- $19,665
- Gross Rent Multiplier
- 12.52
- Total Expenses
- $82,367
- Cap Rate
- 6.04
- Vacancy Rate
- 5
- Total Number of Units
- 12
- Unit Name
- 425
- Potential Terms
- Conventional
- Year Built
- 1980
- Roof
- Composition
- Site Features
- Fenced-Partially, Patio
- Other Expenses
- 32318
- Energy Source
- Electric
- School District
- Puyallup
- Elementary School
- Stewart Elem
- Middle School
- Kalles Jnr High
- High School
- Puyallup High
- Total Monthly Income
- $25,737
- Gross Scheduled Income
- $295,560
- Vacancy Rate
- 5
- Gross Adjusted Income
- $280,782
- Tax Year
- 2024
- Insurance Expense
- $3,135
- W/S/G Expenses
- $19,665
- Total Expenses
- $82,367
- Net Operating Income
- $226,471
- Gross Rent Multiplier
- 12.52
- Cap Rate
- 6.04
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.