We are pleased to present Prestige Townhomes, a well-maintained 1980 vintage asset located in Puyallup, WA. This 12-unit property features spacious, turnkey 2-bedroom, 1.5 bath townhomes with in-unit laundry averaging 940 SF. Each unit is equipped with modern finishes, including vinyl plank flooring, quartz countertops, stainless-steel appliances, and copper plumbing. The property currently achieves an average rent of $2, 052 per unit, with the highest rent at $2, 300 and two additional units rented at $2, 195. With market rents exceeding current levels, there is a clear path to increase average rents by approximately $150/unit, to potentially $248/unit unlocking additional revenue potential for new ownership.
Property Features
Heating and Cooling
- Heating Features: Forced Air
- Heating Fuel: Electric
- Heating: Yes
Interior Features
- Flooring: Vinyl Plank, Wall to Wall Carpet
Exterior and Lot Features
Land Info
- Lot Size Acres: 0.662
- Lot Size Square Feet: 28838
Garage and Parking
- Open Parking Spaces: 25
- Open Parking: Yes
- Parking Total: 25
- Uncovered Spaces: 25
School Information
- Elementary School: Stewart Elem
- High School: Puyallup High
- High School District: Puyallup
- Middle School: Kalles Jnr High
Rental Info
- Gross Scheduled Income: 295560
- Leasable Area: 11280
- Leasable Area Units: Square Feet
Multi-Unit Info
- Number of Units: 12
- Unit-1 Square Feet: 940
- Unit-2 Square Feet: 940
- Unit-3 Square Feet: 940
- Unit-4 Square Feet: 940
- Unit-5 Square Feet: 940
- Unit-6 Square Feet: 940
- Unit-7 Square Feet: 940
- Unit-8 Square Feet: 940
- Unit-9 Square Feet: 940
- Unit-10 Square Feet: 940
- Unit 1 Total Actual Rent: 2053
- Unit 2 Total Actual Rent: 2053
- Unit 3 Total Actual Rent: 2053
- Unit 4 Total Actual Rent: 2053
- Unit 5 Total Actual Rent: 2053
- Unit 6 Total Actual Rent: 2053
- Unit 7 Total Actual Rent: 2053
- Unit 8 Total Actual Rent: 2053
- Unit 9 Total Actual Rent: 2053
- Unit 10 Total Actual Rent: 2053
Homeowners Association
- Calculated Total Monthly Association Fees: 0
Other Property Info
- Fenced-Partially
- Patio
- Annual Tax Amount: 27249
- Source Listing Status: Pending Inspection
- Country Region: US
- County: Pierce
- Cap Rate: 6.04
- Directions: Take Exit 137 from I-5 S; Take Valley Ave E. Turn right onto Milwaukee Ave E; Turn right onto 5th Ave NE; Turn left at the 1st cross street onto 4th St NE; Turn left.
- Tax Year: 2024
- Other Expense: 32318
- Source Property Type: Multi Family
- Insurance Expense: 3135
- Area: 79 - Puyallup
- List Development Name: Puyallup
- Source Neighborhood: Puyallup
- Parcel Number: 7600000221
- Street Suffix Modifier: Street
- Subdivision: Puyallup
- Source System Name: C2C
Commercial Info
- Net Operating Income: 226471
- Operating Expense: 82367
Utilities
- Power Production Type: Electric
- Sewer: Septic
Building and Construction
- Building Area Units: Square Feet
- Building Exterior Type: Wood Products
- Living Area Units: Square Feet
- Property Age: 45
- Roof: Composition
- Building Total Stories: 2
- Structure Type: Multi Family
- House Style: 10+ Units
- Elevation Units: Feet
Home Features
- Security Features: Partially Fenced
