Courtesy: Lumin Brokers of Washington
855-586-4692
Rich Kim
Garden Square Apartments is a renovated multi-family building ideally located in the heart of Puyallup, WA comprised of two 1BD/1BA, eighteen 2BD/1BA, and one 4BD/1.5BA units. With a Walk Score of 87 out of 100 it has excellent proximity to shopping, entertainment districts and restaurants. This community is an attractive destination for vacations, business trips and urban professionals making it a unique opportunity for short-and long-term rentals alike. This investment offers a unique opportunity to add value without any updates to the building or units. The rents are significantly below market and can be increased by an average of 14% to meet current market rents. Current Cap Rate of 6.03% would be raised to 7.28%! DO NOT DISTURB TENANTS
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Puyallup is located in Washington. Puyallup, Washington has a population of 42,366. Puyallup is less family-centric than the surrounding county with 31.31% of the households containing married families with children. The county average for households married with children is 32.93%.
The median household income in Puyallup, Washington is $81,224. The median household income for the surrounding county is $82,574 compared to the national median of $69,021. The median age of people living in Puyallup is 37.3 years.
The average high temperature in July is 77.3 degrees, with an average low temperature in January of 35.3 degrees. The average rainfall is approximately 41.3 inches per year, with 4 inches of snow per year.
