204 S Meridian - Apartments FOR SALE


Puyallup, WA 98371
$1,450,000 USD
206-300-0115
204 S Meridian, Puyallup, WA for Sale
$1,450,000 USD
Apartments - FOR SALE
1/13
null | 5.56% Cap Rate

204 S Meridian
Puyallup, WA 98371


HIGHLIGHTS

  • High Visibility Street
  • Walk Score 95
  • Mountain Views
  • Retail Central Business District

OVERVIEW

Secure a 100% leased, turnkey investment in the heart of Puyallup’s Central Business District with this distinguished mixed-use property. Originally built in 1920, this meticulously updated 6,066 sq. ft. asset seamlessly combines timeless character with modern upgrades, offering both stability and long-term value. The street-level retail space consists of two fully leased units with prime visibility, while the upper level features two beautifully updated 2BR/1BA apartments—each boasting in-unit laundry, stylish interiors, and one with breathtaking views of Mt. Rainier from the bedroom. Perfectly positioned on a high-traffic corridor with ample parking, strong foot traffic, and a Walk Score of 95, this property ensures exceptional tenant demand and long-term stability. All leases are modified gross, with one transitioning to NNN in October 2025, allowing the next owner to unlock additional value through future utility reimbursements. This is more than just an investment—it’s a chance to own a piece of Puyallup’s history while securing a high-performing asset in a thriving location.

FOR SALE DETAILS

PRICE

$1,450,000 USD

PRICE/SF

$1,813 USD /SF

# OF UNITS

4

PRICE/UNIT

$362,500

CAP RATE

5.56%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1920

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

296000-0280

ASK ABOUT THIS PROPERTY

Ben KaufmanCompassMore Info
206-300-0115

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Ben KaufmanCompassMore Info
206-300-0115

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.