408 N Meridian

Puyallup, WA 98371

  • Bed

  • Bath

  • 5808 SqFt

  • 5 DOM

  • Built: 1900

  • Status: Active

$1,150,000

X

408 N Meridian

Puyallup 98371

$1150000

  • Bed

  • Bath

  • 5808 SqFt

  • 5 DOM

  • Built: 1900

  • Status: Active

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Srinivas Kasam

CEO & Founder

(650)533-3259

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.

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Residence Information

  • 5808

  • Composition

  • 55 - 5-9 Units

  • 1900

  • Poured Concrete

  • Basement

Features and Utilities

  • Laminate Tile

  • Stone, Stucco

  • Public

  • Sewer Connected

  • 0

Financial

  • 7454

  • Cash Out, Conventional

  • 06-04-2025

Comparable Information

  • 5

  • 5

  • Cash Out, Conventional

  • $1,150,000

  • $1,150,000

  • Jun 09, 2025 20:08

Schools

Map

Listing courtesy of Urban Commercial Partners, LLC.

The content relating to real estate for sale on this site comes in part from the IDX program of the NWMLS of Seattle, Washington. Real Estate listings held by brokerage firms other than this firm are marked with the NWMLS logo, and detailed information about these properties include the name of the listing's broker. Listing content is copyright © 2025 NWMLS of Seattle, Washington. All information provided is deemed reliable but is not guaranteed and should be independently verified. Kasamestates data last checked: Jul 24, 2025 21:22 | Listing last modified Jun 09, 2025 20:08. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.

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