408 2nd Street NW, Puyallup, WA 98371
- $1,250,000
- 3,986
- SqFt
Listing courtesy of Windermere Real Estate/PSK Inc.
- List Price
- $1,250,000
- Status
- ACTIVE
- MLS#
- 2574077
- Days on Market
- 1
- Style
- 55 - 5-9 Units
- Finished SqFt
- 3,986
- Area Total SqFt
- 3986
- Annual Tax Ammount
- 8924
- Lot Size (sq ft)
- 14,400
- Sewer
- Sewer Connected
Property Description
Turnkey 5-unit investment opportunity in the heart of Downtown Puyallup! Extensively updated and exceptionally maintained, this property features five spacious 2-bedroom, 1-bath residences of approximately 775 square feet each, with beautifully remodeled interiors designed for lasting tenant appeal. Major improvements include a new roof in 2025, replaced electrical breaker panels throughout and upgraded triple-pane vinyl windows. Strong in-place rents provide immediate income, while the on-site coin-operated laundry offers an additional revenue stream. Situated on a generous 14,400 square foot corner lot with eight covered carport spaces plus three additional parking spaces. An outstanding location just blocks from the Puyallup Sounder Station and moments from downtown dining, shopping and amenities. A rare opportunity to acquire a renovated, income-producing 5-plex with significant capital improvements already completed in one of Puyallup’s most convenient locations.
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Additional Information
- List Date
- 2026-09-09 13:58:11
- Community
- Puyallup
- Net Operating Income
- $67,737
- Gross Adjusted Income
- $95,475
- Gross Scheduled Income
- $100,500
- Total Monthly Income
- $8,600
- Insurance Expenses
- $4,534
- Water/Sewer/Garbage Expenses
- $15,984
- Gross Rent Multiplier
- 12.44
- Total Expenses
- $30,138
- Cap Rate
- 5.42
- Vacancy Rate
- 5
- Total Number of Units
- 5
- Unit Name
- 408
- Potential Terms
- Cash, Conventional
- Year Built
- 1976
- View
- Territorial
- Roof
- Composition
- Electric Expenses
- 696
- Energy Source
- Electric
- School District
- Puyallup
- Elementary School
- Stewart Elem
- Middle School
- Kalles Jnr High
- High School
- Puyallup High
- Total Monthly Income
- $8,600
- Gross Scheduled Income
- $100,500
- Vacancy Rate
- 5
- Gross Adjusted Income
- $95,475
- Tax Year
- 2026
- Insurance Expense
- $4,534
- W/S/G Expenses
- $15,984
- Total Expenses
- $30,138
- Net Operating Income
- $67,737
- Gross Rent Multiplier
- 12.44
- Cap Rate
- 5.42
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.