Fairview Apartments (Status: Pending)
322, 9th Ave, Puyallup, WA 98372
OFFERS DUE Monday, 11/30/2020. 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. Comparable 2 bedroom units in the area rent between $1,450-$1,500. With some additional upgrades, an investor could push rents further in the next tier of bedrooms in the area renting between $1,525-$1,595. The Puyallup market remains one of the hottest rental markes in the Puget Sound Region with very little vacancy and increasing rental rates. Per CoStar Analytics, rents have risen 5.01% since May 2020, and has shown an annualized increase of approximately 10%. The property is ideally located a few blocks from the Washington State Fairgrounds & Events Center, Good Samaritan Hospital, and Highway 512.
Asset Class: Multi-Family
Year Built: 1977
Building Total Square Feet: 23346
Available Lease Space Square Feet:
Number of Floors: 2
Total Parking Spaces: 32
Local Zoning Information: RM-20
Listing Courtesy of: Westlake Associates, Inc.
Disclaimer: The information contained in this listing has not been verified by North Sound Commercial, a division of Pacific Continental Realty, LLC and should be verified by the buyer, seller, or tenant.
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