Listed by COMPASS
$1,350,000
PENDING $100K PRICE DROP

204 S Meridian Puyallup, WA 98371

Estimated payment $8,157/month

Total Views 11,223
-- Bed
-- Bath
6,066 Sq Ft
$223 Price per Sq Ft

Highlights

  • Mountain View
  • 4-minute walk to Puyallup Station
  • 1-minute walk to Pioneer Park
  • Puyallup High School Rated A-
  • No HOA

About This Home

Secure this 100% leased, turnkey investment in the heart of Puyallup’s Central Business District. Built in 1920 and meticulously updated, this 6,066 sq. ft. mixed-use property blends historic charm with modern upgrades for stability and long-term value. The street-level retail includes two fully leased units, while the upper level features two updated 2BR/1BA apartments with in-unit laundry, stylish interiors, and Mt. Rainier views. Situated on a high-traffic corridor with ample parking and a 95 Walk Score, this asset offers strong tenant demand. With leases structured for future utility reimbursement potential, this is a rare chance to own a thriving piece of Puyallup’s history.

Listing Agent

Ben Kaufman

COMPASS License #18974 Listed on: 02/06/2025

COMPASS

Co-Listing Agent

Nicole Allen

COMPASS License #125672

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 2330179

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $9,778

Year Built

  • Built in 1920

Property Views

  • Mountain
  • Territorial

Home Design

  • Duplex
  • Brick Exterior Construction
  • Bitumen Roof

Interior Spaces

  • 6,066 Sq Ft Home
  • 2-Story Property

Additional Features

  • 3,736 Sq Ft Lot
  • Heating System Mounted To A Wall or Window

Community Details

  • No Home Owners Association
  • Puyallup Valley Subdivision

Listing and Financial Details

  • Assessor Parcel Number 2960000280

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$9,778

Year Built

Built in 1920

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi Family
  • StyleCode: 52 - Duplex
  • Year Built: 1920
  • MLS Status: Pending Inspection
  • Prev Status: Pending
  • New Construction: No
  • CalculatedSquareFootage: 6066
  • Special Features: None
  • Cumulative Days on Market: 187

Interior Features

  • Possible Use: Business, Commercial, Multi-Family, Office, Residential, Retail
  • Fireplace: No
  • Stories: 2
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0
  • BathsFullUpper: 0
  • BathsHalfUpper: 0
  • BathsThreeQuarterUpper: 0
  • BedroomsUpper: 0

Exterior Features

  • Roof: Torch Down
  • View: Mountain(s), Territorial
  • Lot Features: Alley, Curbs, Paved, Sidewalk
  • View: Yes
  • Waterfront: No
  • Construction Type: Brick
  • Exterior Features: Brick
  • Structure Type: Duplex

Garage/Parking

  • Carport Y N: No
  • Open Parking: No
  • ParkingUncoveredSpaces: 0

Utilities

  • Sewer: Sewer Connected
  • Water Source: Public
  • Cooling: None
  • Cooling Y N: No
  • Heating: Wall Unit(s)
  • Heating Yn: Yes
  • PowerCompany: PSE
  • SewerCompany: Puyallup
  • WaterCompany: City of Tacoma
  • WaterSewerGarbage: 2348

Condo/Co-op/Association

  • Senior Community: No
  • Association: No

Fee Information

  • Annual Fuel Expense: 2348

Schools

  • Junior High Dist: Puyallup

Lot Info

  • Parcel Number: 2960000280
  • Lot Size Acres: 0.0858
  • Lot Size Sq Ft: 3736
  • Zoning Description: Business,Commercial,Multi-Family,Office,Residential,Retail
  • Irrigation Water Rights: No
  • ShowMapLink: true
  • MLSLotSizeSource: public record
  • MLSSquareFootageSource: Public Records
  • ZoningJurisdiction: City

Green Features

  • Power Production Type: Electric

Rental Info

  • GrossRentMultiplier: 11.88
  • LeasedItems: None
  • TotalMonthlyIncome: 9467

Multi Family

  • Gross Scheduled Income: 113601
  • Net Operating Income: 76275
  • Number Of Units Total: 4
  • Electric Expense: 2348
  • Insurance Expense: 6148
  • Leasable Area: 6066
  • EnergySource: Electric
  • UnitsInBuildingTotal: 4
  • UnitsBelowGrade: false
  • VacancyRate: 5

Tax Info

  • Year: 2024
  • Tax Annual Amount: 9778

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $9,778 $820,600 $181,000 $639,600
2024 $9,778 $820,600 $164,600 $656,000
2023 $9,778 $820,600 $164,600 $656,000
2022 $8,420 $781,500 $164,600 $616,900
2021 $9,169 $668,900 $173,800 $495,100
2019 $8,397 $668,900 $173,800 $495,100
2018 $8,848 $608,800 $158,700 $450,100
2017 $8,182 $579,100 $143,600 $435,500
2016 $8,005 $510,000 $159,100 $350,900
2014 $7,981 $485,700 $159,100 $326,600
2013 $7,981 $485,700 $159,100 $326,600
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/01/2025 08/01/25 Pending -- -- --
06/24/2025 06/24/25 Price Changed $1,350,000 -3.6% $223 / Sq Ft
05/07/2025 05/07/25 Price Changed $1,400,000 -3.4% $231 / Sq Ft
04/11/2025 04/11/25 For Sale $1,450,000 0.0% $239 / Sq Ft
03/25/2025 03/25/25 Pending -- -- --
02/06/2025 02/06/25 For Sale $1,450,000 -- $239 / Sq Ft
Source: Northwest Multiple Listing Service (NWMLS)

Purchase History

Date Type Sale Price Title Company
Warranty Deed $759,000 Fidelity National Title
Warranty Deed $750,000 Chicago Title Insurance Co
Warranty Deed $390,000 Trans
Warranty Deed $319,934 --
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Previous Owner $321,000 Unknown
Previous Owner $165,000 Commercial
Source: Public Records

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 2330179

Northwest Multiple Listing Service (NWMLS)

APN: 296000-0280