344 7th St SE - Apartments FOR SALE


Puyallup, WA 98372- Downtown Puyallup
$4,625,000 USD
206-491-2008
344 7th St SE, Puyallup, WA for Sale
$4,625,000 USD
Apartments - FOR SALE
1/11
null | 6.2% Cap Rate

344 7th St SE
Puyallup, WA 98372
Downtown Puyallup


HIGHLIGHTS

  • Over half the units are partially renovated; however, the location in the Puyallup submarket warrants a higher level of reno scope for the next owner.
  • Esquire offers direct access to Seattle's largest employment hubs while avoiding Tacoma's restrictive landlord-tenant regulations.
  • Priced competitively at $201,087 per unit.
  • Located within 30 minutes from Joint Base Lewis-McChord, Downtown Tacoma, and the Boeing Fabrication Division.
  • Implementing minimal operational changes and bringing all units to market rent provides the potential for higher returns.

OVERVIEW

Introducing Esquire located at 344 7th St SE, Puyallup, WA 98372! This 23-unit property offers a fantastic investment opportunity in Puyallup's sought-after limited inventory market. With 22 two-bedroom units and one studio, Esquire boasts an average size of 693 square feet and a strong unit mix. Built in 1968, this well-maintained property features ongoing upgrades and an onsite laundry facility that adds to its income stream. Priced at $4,625,000, Esquire presents an attractive value-add proposition for new owners to implement further enhancements and capitalize on the robust rental market in Puyallup. Take advantage of the chance to maximize returns by completing upgrades and raising market rents in this desirable location. Don't miss out on this prime opportunity to invest in a property with immense potential for growth in a thriving rental market!

FOR SALE DETAILS

PRICE

$4,625,000 USD

PRICE/SF

$271 USD /SF

# OF UNITS

23

PRICE/UNIT

$201,087

CAP RATE

6.2%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Esquire Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1968

PARKING SPACES

30

LAND DETAILS

LAND ACRES

1.29 AC

LAND SF

56,192 SF

ZONING

RM-20

APN/PARCEL ID

042027-3007

ASK ABOUT THIS PROPERTY

Chad BlenzBerkadiaMore Info
206-491-2008

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Chad BlenzBerkadiaMore Info
206-491-2008

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