Listing ID: 1691261
Sold For: $3,447,300
Status: Closed
Address: 322 9th Avenue SE
City: Puyallup
State: Washington
Postal Code: 98372
SqFt: 16,210
Acres: 0.937
County: Pierce
The Fairview Apartments provides the opportunity for an investor to walk into ownership with a turn key asset, or push rents without any further renovations. The property is ideally located a few blocks from the Washington State Fairgrounds & Events Center, Good Samaritan Hospital, and Highway 512, which provides tenants with immediate access to Seattle, Kent, Tacoma and Sumner Valley.

Primary Features

County: Pierce
Property Sub Type: Multi-Family
Property Type: Residential Income
Subdivision: Puyallup
Year Built: 1977


Building Area Units: Square Feet
Furnished: Unfurnished
Heating Cooling Type: Forced Air
Living Area Units: Square Feet
Stories Total: 2


Carport Spaces: 8
Elevation Units: Feet
Exterior Features: Wood
Lot Size Square Feet: 40803
Lot Size Units: Square Feet
MLS Lot Size Source: Pierce County Assessor
Number Of Units Total: 18
Open Parking Spaces: 20
Parking Total: 28
Parking Uncovered Spaces: 20
Roof: Composition
Sewer: Sewer Connected
Structure Type: Multi Family
Style Code: 56 - 10+ Units
Units Below Grade: false
Units In Building Total: 18
Utilities: Sewer Connected, Electricity Available
Water Sewer Garbage: 20992


Building Area Total: 16210
Country: US
High School District: Puyallup
MLS Area Major: 83 - Puyallup
Waterfront: no
Zoning Class: Multi-Family
Zoning Jurisdiction: City


Mls Status: Sold
Offers: Seller intends to review offers upon receipt
Possible Use: Multi-Family
Power Production Type: Electric
Preliminary Title Ordered: yes


Buyer Financing: Cash
Cap Rate: 5.23
Gross Adjusted Income: 275971
Gross Rent Multiplier: 12
Gross Scheduled Income: 290496
Insurance Expense: 6189
Leasable Area: 16210
Leasable Area Units: Square Feet
Leased Items: None
Net Operating Income: 177722
Other Expense: 42526
Possession: Closing
Sale Type: MLS
Seller Disclosure: Not Provided
Special Listing Conditions: None
Tax Annual Amount: 28543
Tax Year: 2020
Total Expenses: 98250
Total Monthly Income: 24208
Vacancy Rate: 5

Zoning Info

Area Info

The database information herein is provided from the Northwest Multiple Listing Service (NWMLS). NWMLS data may not be reproduced or redistributed and is only for people viewing this site. All information provided is deemed reliable but is not guaranteed and should be independently verified. All properties are subject to prior sale or withdrawal. The information contained in this listing has not been verified by Heaton Dainard, LLC (2412) and should be verified by the buyer. © 2023 NWMLS. All rights reserved. Data last updated: Sunday, March 26th, 2023 10:19:19 AM.
Closed Listing courtesy of Westlake Associates, Inc.
Closed Listing courtesy of Westlake Associates, Inc.

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