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 Provided Courtesy of Tyler J. Bretz, Urban Commercial Partners, LLC
General Information
NWM2387690
Multi Family
5
DOM
5998.21 SqFt
5808
1900
Pierce
Residential Incom
Multi Family
Listing Provided Courtesy of Tyler J. Bretz, Urban Commercial Partners, LLC
Krishna Realty data last checked: Jun 30, 2025 12:04 | Listing last modified Jun 09, 2025 20:08,
Source:
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Residence Information
5808
Composition
55 - 5-9 Units
1900
Poured Concrete
Basement
Features and Utilities
Laminate Tile
Stone, Stucco
Public
Sewer Connected
0
Financial
7454
Cash Out, Conventional
06-04-2025
Comparable Information
5
5
Cash Out, Conventional
$1,150,000
$1,150,000
Jun 09, 2025 20:08
Schools
Map
Listing courtesy of 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.
