Puyallup, WA 98446
Listing Courtesy of: Northwest MLS / Windermere Real Estate/Central Inc / Chip McBroom and Coldwell Banker Bain
$3,700,000

   Puyallup, WA 98446

Sold (3 Days)

Description

Canyon Creek Apartment opportunity w/SEPA approval & Commercial Site Development county approval for a 136 Unit Apartment Project. Amazing location assemblage of 6.5 acres off Canyon Park, behind Albertsons. All approved Site Engineering, Architectural plans, and Land included in the List price. Summer 2021 build. 81 Units 1 Bed/1Bath and 55 Units 2 bed/2 Bath. Site approved for 5 buildings in the Woody Walkup style with 130 individual garages, 295 additional parking spaces. Market value of the built out project with certificate of occupancy is estimated at $36+ million+. Great return with a 5 cap, plus initial buildout profit. Adjacent to newer construction 5100 Summit apartments with stable rents! Must see opportunity, wont last long.

MLS #:
1735919
Lot Size
6.38 acres
Type
Land
Style
Multi-Family
School District
Puyallup
County
Pierce County
Community
Puyallup
Bathroom Details
Lot Information
  • Paved Street
Utility Information
  • Sewer: Available
Additional Listing Info
  • Selling Office Commission: 2.5%
Disclaimer: Based on information submitted to the MLS GRID as of 2022 9/25/22 10:16. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.