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Lindale Apartments 921 12th Ave SE 24 Unit Apartment Building $4,550,000 ($189,583/Unit) 6.40% Cap Rate Puyallup, WA 98372
Executive Summary
The Foundation Group is pleased to present Lindale Apartments, a 24-unit multifamily community located in a quiet residential neighborhood of Puyallup within Pierce County. The property offers a well-balanced mix of one- and two-bedroom units designed to appeal to a broad renter base, including individuals, couples, and small families.
Ideally positioned just minutes from Downtown Puyallup, the property provides convenient access to local shopping, dining, and everyday services, along with major destinations such as MultiCare Good Samaritan Hospital and South Hill Mall. The property went through an interior renovation in 2016 and has been meticulously maintained on unit turns, featuring renovated units with modern finishes that enhance tenant appeal.
Ideally positioned just minutes from Downtown Puyallup, the property provides convenient access to local shopping, dining, and everyday services, along with major destinations such as MultiCare Good Samaritan Hospital and South Hill Mall. The property went through an interior renovation in 2016 and has been meticulously maintained on unit turns, featuring renovated units with modern finishes that enhance tenant appeal.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $4,550,000 | Apartment Style | Low-Rise |
| Price Per Unit | $189,583 | Building Class | B |
| Sale Type | Investment | Lot Size | 1.27 AC |
| Cap Rate | 6.40% | Building Size | 18,740 SF |
| Gross Rent Multiplier | 8.7 | No. Stories | 2 |
| No. Units | 24 | Year Built/Renovated | 1973/2016 |
| Property Type | Multifamily | Parking Ratio | 2.56/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | RM20, Puyallup | ||
| Price | $4,550,000 |
| Price Per Unit | $189,583 |
| Sale Type | Investment |
| Cap Rate | 6.40% |
| Gross Rent Multiplier | 8.7 |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 1.27 AC |
| Building Size | 18,740 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1973/2016 |
| Parking Ratio | 2.56/1,000 SF |
| Zoning | RM20, Puyallup |
Amenities
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | $1,450 | 662 |
| 2+1 | 16 | $1,650 | 760 |
1 1
Fairly walkable
50/100
Exceptionally drivable
100/100
Minimal public transit
10/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 042034-5027 | Improvements Assessment | $2,437,800 |
| Land Assessment | $1,154,700 | Total Assessment | $3,592,500 |
Property Taxes
Parcel Number
042034-5027
Land Assessment
$1,154,700
Improvements Assessment
$2,437,800
Total Assessment
$3,592,500
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Lindale Apartments | 921 12th Ave SE
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