10712 64th Avenue E, Puyallup, WA
Offered at $848,000 | Fourplex

If you're looking for a Puyallup fourplex for sale with immediate cash flow, value-add potential, and room for future expansion, this new listing deserves your attention.

Situated on a rare 0.57-acre lot in a quiet rural setting, this well-maintained fourplex offers investors a combination that's becoming increasingly difficult to find: strong in-place income, below-market rents, major capital improvements already completed, and the potential to add additional units or an ADU (buyer to verify).

Turnkey Investment with Strong Upside

The property consists of four 2-bedroom, 1-bath units, providing a highly desirable unit mix with broad tenant appeal.

Each upper unit features a private balcony, while the lower units offer their own patios, giving tenants outdoor living space that helps support long-term occupancy.

Additional highlights include:

  • Four 2-bedroom / 1-bath units
  • Shared coin-operated laundry providing additional income
  • Detached outbuilding/garage with potential for additional rental income
  • Fully occupied with quality tenants
  • Two units on leases and two month-to-month

Current rents remain below market, creating a clear path for future revenue growth through scheduled rent increases as units turn over.

Major Capital Improvements Already Completed

One of the biggest challenges investors face today is unexpected capital expenditures.

Fortunately, many of the property's major systems have already been updated, including:

  • Newer roof
  • Newer windows
  • Fresh exterior paint
  • Interior improvements throughout

These updates help minimize near-term maintenance costs and allow a new owner to focus on increasing income rather than addressing deferred maintenance.

Attractive Current and Projected Returns

This property is currently producing a 6.5% cap rate, with an estimated 8.5% market cap rate after bringing rents closer to market levels.

For investors seeking stable cash flow with built-in upside, opportunities like this are becoming increasingly scarce in Pierce County.

The property may also appeal to owner-occupants looking to house hack by living in one unit while generating rental income from the others.

Rare Development Potential

What truly sets this property apart is the land.

The oversized 0.57-acre lot may provide opportunities to construct additional units or an ADU in the future (buyer to verify), creating long-term appreciation potential beyond the existing improvements.

In today's market, finding income-producing multifamily properties with excess land is increasingly uncommon.

Convenient Puyallup Location

Located just minutes from shopping, schools, transit, and major commuter routes, the property benefits from consistent rental demand while maintaining a quieter, more rural atmosphere than many competing multifamily properties.

As Pierce County continues to grow, properties offering both current income and future expansion potential remain highly desirable among investors.

Learn More

Whether you're looking to expand your multifamily portfolio or purchase your first investment property, this fourplex offers an outstanding combination of cash flow, upside, and long-term potential.

View additional photos, financial information, and property details here:

https://www.soundmultifamily.com/property/2488035/

Charles Burnett, CCIM
Founder | Sound Property Group

I specialize exclusively in the sale of apartment buildings and multifamily investment properties throughout Puyallup, Tacoma, Seattle, Bremerton, and the greater Puget Sound region. If you're considering buying or selling a duplex, fourplex, or apartment building, I'd be happy to help you evaluate your options.