NEW! Buy and sell safely with virtual options - Learn More
About the Listing 4778 - 102039
Meridian Castle, located in the heart of Downtown Puyallup, presents a rare investment opportunity in a thriving market. Currently 100% occupied, the property generates $75,524 in NOI, reflecting an in-place 6.3% cap rate, with rents positioned below market expectations. Significant revenue upside exists through rent increases, utility bill-backs, storage leasing, and laundry income, all of which remain untapped by current ownership. With operational stabilization, the asset is projected to achieve a 7.45% proforma cap rate, reinforcing its long-term investment appeal. This property is available for sale individually or as part of a portfolio offering alongside 112 4th Ave SE, Puyallup.
Listing Highlights for 408 N Meridian
Status
Active
Days on Site
94
Property Type
Multi-Family
MLS ®
2387690
Year Built
1900
Total Square Footage
3,652
Lot/Acreage
0.14
County
Pierce
Building Name
Sourwines Add
Neighborhood
Puyallup
Area
81 - Puyallup
School District
Puyallup
Interior Details
- Bedrooms: 8
- Bathrooms: 8 Full
- Appliances:
- Air Cond:
- Heating:
- Fireplaces: 0
- Floor: Engineered Hardwood,Laminate,Vinyl,Carpet
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other: Laminate Tile
- Water: Puyallup Water Dept.
Exterior Details
- Lot Description: Paved,Sidewalk
- Garage Capacity: N/A
- Parking Spaces: 5
- Roof: Composition
- Others: Stone,Stucco
- Sewer: Pierce County Sewer
Financial Details
- Tax Amount: $7,454
- Taxes w/Assessments: N/A
- Tax/Property ID: 7725000140
- Tax Year: 2025
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Years
% Down Payment
% Mortgage Rate
Listing Location
Questions About..
408 N Meridian Puyallup, WA 98371
Never Miss A New Property
Get notified any time there's a new home on the market in this neighborhood!
Don't worry! We'll never spam you or sell your details. You can unsubscribe whenever you'd like.
Listing Courtesy of -
