We are pleased to present Canyon Ridge Apartments, a well-maintained 36-unit community in Puyallup. This offering provides a value-add investment opportunity with recent capital improvements. The property features a mix of 1&2 BD units, averaging 728SF, with 30 of the 36 units recently remodeled to include new flooring, baseboards, paint, lighting, appliances, and updated bathrooms - half of which also received new cabinets. Enhancements include double-pane vinyl windows and 5 on-site laundry rooms with coin-operated machines, all newly installed in December 2024 and fully owned by the property. Recent exterior upgrades include new roofs, paint, and seal coating in 2022, curbing, striping, and landscaping updates in 2025.
Property Features
Bedrooms
Bathrooms
Heating and Cooling
- Heating Features: Baseboard
- Heating Fuel: Electric
- Heating: Yes
Interior Features
- Flooring: Vinyl, Wall to Wall Carpet
Exterior and Lot Features
Land Info
- Lot Description: Paved, Sidewalk
- Lot Size Acres: 2.9883
- Lot Size Square Feet: 130170
Garage and Parking
- Open Parking Spaces: 60
- Open Parking: Yes
- Parking Total: 60
- Uncovered Spaces: 60
Home Features
- View: Territorial
- Security Features: FullyFenced
Amenities and Community Features
Rental Info
- Gross Scheduled Income: 685908
- Leasable Area: 26220
- Leasable Area Units: Square Feet
School Information
- High School District: Puyallup
Homeowners Association
- Calculated Total Monthly Association Fees: 0
Multi-Unit Info
- Bedrooms in Unit-1: 2
- Bedrooms in Unit-2: 2
- Bedrooms in Unit-3: 2
- Bedrooms in Unit-4: 2
- Bedrooms in Unit-5: 2
- Bedrooms in Unit-6: 2
- Bedrooms in Unit-7: 2
- Bedrooms in Unit-8: 2
- Bedrooms in Unit-9: 1
- Bedrooms in Unit-10: 1
- Total Bathrooms in Unit-1: 1
- Total Bathrooms in Unit-2: 1
- Total Bathrooms in Unit-3: 1
- Total Bathrooms in Unit-4: 1
- Total Bathrooms in Unit-5: 1
- Total Bathrooms in Unit-6: 1
- Total Bathrooms in Unit-7: 1
- Total Bathrooms in Unit-8: 1
- Total Bathrooms in Unit-9: 1
- Total Bathrooms in Unit-10: 1
- Unit-1 Square Feet: 810
- Unit-2 Square Feet: 810
- Unit-3 Square Feet: 810
- Unit-4 Square Feet: 810
- Unit-5 Square Feet: 810
- Unit-6 Square Feet: 810
- Unit-7 Square Feet: 810
- Unit-8 Square Feet: 810
- Unit-9 Square Feet: 600
- Unit-10 Square Feet: 600
- Unit 1 Total Actual Rent: 1511
- Unit 2 Total Actual Rent: 1511
- Unit 3 Total Actual Rent: 1511
- Unit 4 Total Actual Rent: 1511
- Unit 5 Total Actual Rent: 1511
- Unit 6 Total Actual Rent: 1511
- Unit 7 Total Actual Rent: 1511
- Unit 8 Total Actual Rent: 1511
- Unit 9 Total Actual Rent: 1291
- Unit 10 Total Actual Rent: 1291
Other Property Info
- Deck
- Fenced-Partially
- Annual Tax Amount: 59976
- Source Listing Status: Active
- Country Region: US
- County: Pierce
- Cap Rate: 6.1
- Directions: Take exit 135 from I-5 S. Take Pioneer Way E and Canyon Rd E to 96th St E in Summit. Turn right onto 96th St E.
- Tax Year: 2025
- Other Expense: 106703
- Source Property Type: Multi Family
- Possible Use: Multi-Family
- Insurance Expense: 16918
- Area: 79 - Puyallup
- List Development Name: Summit
- Source Neighborhood: Summit
- Parcel Number: 0320364089
- Street Suffix Modifier: Street
- Subdivision: Summit
- Zoning Description: Multi-Family
- Source System Name: C2C
Commercial Info
- Net Operating Income: 423676
- Operating Expense: 231572
Utilities
- Power Production Type: Electric
- Sewer: Septic
Building and Construction
- Building Area Units: Square Feet
- Building Exterior Type: Brick, Wood
- Foundation Details: Slab
- Living Area Units: Square Feet
- Property Age: 49
- Roof: Composition
- Building Total Stories: 2
- Structure Type: Multi Family
- House Style: 10+ Units
- Elevation Units: Feet
- Year Built Effective: 1988
