Properties Recently Sold
414 5th St NE, Puyallup WA
This value-add triplex sold off market and will be a big project to undertake for the new owners. The building will need to be cleaned up substantially with a full renovation which will include roof, windows, systems and rebuild the interiors of all units. Notably, the triplex is just two blocks away from the Milwaukee Bridge which will be finished undergoing maintenance in the year 2022. The unit mix is two 1B/1B (575SqFt) and a 2B/1B (700SqFt) with a common laundry room. The property traded at a 5.78% cap rate and will trend to over a 7.75% cap on cost after all renovations have been made.