Garden Square Apartments 219 5th Ave NE 21 Unit Apartment Building For Sale Puyallup, WA 98372

Garden Square Apartments presents the opportunity to acquire a 21-unit multifamily asset in Puyallup, Washington. The property consists of a single apartment building constructed in 1973 and features unit layouts that average 934 square feet, providing larger living spaces than many competing properties in the area. Current ownership has completed various capital improvements, including exterior paint, roof upgrades, electrical and plumbing work, deck improvements, and cosmetic updates, creating a foundation for continued asset enhancement.
The investment is positioned as a light value-add opportunity through the continuation of an established renovation program. Existing renovated units demonstrate the potential for further modernization of kitchens, bathrooms, flooring, lighting, cabinetry, appliances, and interior finishes. The property's in-unit laundry, parking accommodations, and large floor plans support ongoing resident demand and provide a basis for future rent growth as units are upgraded over time.
Located near downtown Puyallup, the property benefits from convenient access to local retail, employment centers, schools, healthcare facilities, and major transportation routes. Downtown Puyallup, State Route 167, State Route 512, MultiCare Good Samaritan Hospital, the Washington State Fairgrounds, and South Hill Mall are all located within a short drive. Puyallup's position within the Seattle-Tacoma metropolitan area supports housing demand from a diverse employment base across healthcare, retail, construction, and professional services sectors.
Garden Square Apartments offers investors the opportunity to acquire a well-located multifamily property with demonstrated renovation potential, functional unit layouts, and proximity to key regional demand drivers throughout Pierce County.