Listed by Lumin Brokers of Washington
$4,574,900
$25K PRICE DROP

219 5th Ave NE Puyallup, WA 98372

Estimated payment $28,236/month

Total Views 4,076
42 Beds
21 Baths
18,594 Sq Ft
$246 Price per Sq Ft

Highlights

  • 0.54 Acre Lot
  • Territorial View
  • No HOA
  • Puyallup High School Rated A-
  • Corner Lot
  • 2-minute walk to Grayland Park

About This Home

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 6.00% would be raised to 7.24%! DO NOT DISTURB TENANTS

Listing Agent

Richard Kim

Lumin Brokers of Washington License #50106 Listed on: 07/08/2025

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 2403003

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $40,279

Year Built

  • Built in 1963

Lot Details

  • 0.54 Acre Lot
  • Partially Fenced Property
  • Corner Lot
  • Property is in good condition

Home Design

  • Poured Concrete
  • Composition Roof
  • Wood Composite

Interior Spaces

  • 18,594 Sq Ft Home
  • 2-Story Property
  • Territorial Views

Flooring

  • Carpet
  • Laminate

Bedrooms and Bathrooms

  • 42 Bedrooms
  • 21 Bathrooms

Parking

  • 20 Parking Spaces
  • Open Parking

Utilities

  • Baseboard Heating
  • Cable TV Available

Community Details

  • No Home Owners Association
  • Downtown Subdivision

Listing and Financial Details

  • Assessor Parcel Number 7600200041

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$40,279

Year Built

Built in 1963

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi Family
  • StyleCode: 56 - 10+ Units
  • Year Built: 1963
  • MLS Status: Active
  • Prev Status: Active
  • New Construction: No
  • CalculatedSquareFootage: 18594
  • EffectiveYearBuiltSource: Public Records
  • Special Features: VirtualTour
  • Cumulative Days on Market: 56

Interior Features

  • Possible Use: Multi-Family
  • Total Bedrooms: 42
  • Fireplace: No
  • Flooring: Laminate, Carpet
  • Stories: 2
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0
  • BathsFullUpper: 0
  • BathsHalfUpper: 0
  • BathsThreeQuarterUpper: 0
  • BedroomsUpper: 0
  • Amenities: Coin Op Laundry

Exterior Features

  • Roof: Composition
  • View: Territorial
  • Lot Features: Corner Lot, Curbs, Paved, Sidewalk
  • View: Yes
  • Waterfront: No
  • Construction Type: Wood
  • Exterior Features: Wood Products
  • Foundation Details: Poured Concrete
  • Property Condition: Good
  • Structure Type: Multi Family

Garage/Parking

  • Carport Y N: No
  • Open Parking Spaces: 20
  • Open Parking: Yes
  • Total Parking Spaces: 20
  • ParkingUncoveredSpaces: 20

Utilities

  • Sewer: Sewer Connected
  • Water Source: Public
  • Security: Partially Fenced
  • Cooling: None
  • Cooling Y N: No
  • Heating: Baseboard
  • Heating Yn: Yes
  • PowerCompany: Puget Sound Energy
  • SewerCompany: City of Puyallup
  • WaterCompany: City of Puyallup
  • WaterSewerGarbage: 42000

Condo/Co-op/Association

  • Senior Community: No
  • Association: No

Schools

  • Junior High Dist: Puyallup

Lot Info

  • Parcel Number: 7600200041
  • Lot Size Acres: 0.5353
  • Lot Size Sq Ft: 23319
  • Zoning Description: Multi-Family
  • Irrigation Water Rights: No
  • ShowMapLink: true
  • SiteFeatures: Cable TV,Fenced-Partially
  • MLSLotSizeSource: Realist
  • MLSSquareFootageSource: Realist
  • ZoningJurisdiction: City

Green Features

  • Power Production Type: Electric

Rental Info

  • GrossRentMultiplier: 10.41
  • LeasedItems: None
  • TotalMonthlyIncome: 36620

Multi Family

  • Gross Scheduled Income: 439440
  • Net Operating Income: 274491
  • Number Of Units Total: 21
  • Insurance Expense: 22670.28
  • Leasable Area: 18594
  • EnergySource: Electric
  • UnitsInBuildingTotal: 21
  • UnitsBelowGrade: false
  • VacancyRate: 0

Tax Info

  • Year: 2025
  • Tax Annual Amount: 40279

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

Property History

Date Event Price Change Sq Ft Price
08/06/2025 08/06/25 Price Changed $1,550 0.0% $2 / Sq Ft
08/05/2025 08/05/25 Price Changed $4,574,900 0.0% $246 / Sq Ft
07/17/2025 07/17/25 Price Changed $1,595 +13.9% $2 / Sq Ft
07/10/2025 07/10/25 Price Changed $1,400 0.0% $2 / Sq Ft
07/08/2025 07/08/25 For Sale $4,599,900 0.0% $247 / Sq Ft
05/16/2025 05/16/25 Price Changed $1,700 +9.7% $2 / Sq Ft
05/14/2025 05/14/25 For Rent $1,550 -- --
Source: Northwest Multiple Listing Service (NWMLS)

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 2403003

Northwest Multiple Listing Service (NWMLS)
Washington Pierce County Puyallup 98372

219 5th Ave NE, Puyallup, WA

This home is located at 219 5th Ave NE, Puyallup, WA 98372 and is currently priced at $4,574,900, approximately $246 per square foot. This property was built in 1963. 219 5th Ave NE is a home located in Pierce County with nearby schools including Stewart Elementary School, Kalles Junior High School, and Puyallup High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Northwest Multiple Listing Service (NWMLS) 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. Listing information is provided by the Northwest Multiple Listing Service (NWMLS). Property information is based on available data that may include MLS information, county records, and other sources. Listings marked with the 3 tree icon and provided by NWMLS. All properties are subject to prior sale or withdrawal. IDX information is provided exclusively for consumers’ personal noncommercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, that the data is deemed reliable but is not guaranteed by MLS GRID. ©2025 NWMLS.
Based on information submitted to the MLS GRID

Nearby Homes
Listing Agent
Richard Kim
Section Image
Lumin Brokers of Washington
(253) 367-3498