408 N Meridian, Puyallup, WA 98371
Multi-Family Home 
Built in 1900 
5,998sqft lot
—— car garage 
$——/sqft 
Listed 1 month ago
Property Description
This listing courtesy of Tyler J. Bretz, Urban Commercial Partners, LLC
Meridian Castle, located in the heart of Downtown Puyallup, presents a rare investment opportunity in a thriving market. Currently 100% occupied, the property generates $75,524 in NOI, reflecting an in-place 6.3% cap rate, with rents positioned below market expectations. Significant revenue upside exists through rent increases, utility bill-backs, storage leasing, and laundry income, all of which remain untapped by current ownership. With operational stabilization, the asset is projected to achieve a 7.45% proforma cap rate, reinforcing its long-term investment appeal. This property is available for sale individually or as part of a portfolio offering alongside 112 4th Ave SE, Puyallup.
- Listing Status:
- Active
- Listing Office:
- Urban Commercial Partners, LLC : 206-325-9333
- Listing Agent:
- Tyler J. Bretz : 206-325-9333
- MLS ID:
- 2387690
- General: Laminate Tile
- Flooring: Engineered HardwoodLaminateVinylCarpet
- A/C: Insert
- Heating: Radiant
- Fireplace: Fireplaces: 0
This listing courtesy of Tyler J. Bretz, Urban Commercial Partners, LLC
Monthly Payment
- Principal & Interest $
- Property Taxes $
- Home Insurance $
- VA Funding Fee $
Location
Schools Nearby
Psd Special Services
214 W Main, Puyallup, WA, 98371
Grades PK-12
0.19 miles away
Psd Special Services
214 W Main, Puyallup, WA, 98371
Grades PK-12
0.19 miles away
Psd Special Services
214 W Main, Puyallup, WA, 98371
Grades PK-12
0.19 miles away
