408 N Meridian Puyallup, WA 98371
408 N Meridian
Puyallup, WA 98371
$1,150,000
Multi-Family
0 Beds
0.00 Baths
0 SqFt
Active
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.
Property Features
Community: Puyallup
5-9 Units
Exterior: Stone
Exterior: Stucco
Roof: Composition
Year Built: 1900
2025 Taxes: $7454.00
Buyer Broker Compensation: 2.5%
Listing #: 2387690
Lot Details
Lot Size: 0.14 acres
Paved
Sidewalk
No. of Units: 8
Interior
Cooling: Insert
Heating: Radiant
Electric
Schools
District: Puyallup
Call or Email:
Grace Wamwere
What's Near 408 N Meridian Puyallup, WA 98371?
Information is based on data available to the associate, including county records. The information has not been verified by the associate and all information presented should be verified by the buyer. Listings are provided by Northwest Multiple Listing Service as distributed by MLS GRID. The associate represented on this web site is not a multiple listing service but is a member of a local MLS.
DMCA Notice 
Courtesy of Urban Commercial Partners, LLC
