Home / 408 N Meridian, Puyallup, WA 98371 (MLS # 2387690)

408 N Meridian, Puyallup, WA 98371 (MLS # 2387690)

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Listing provided courtesy of Northwest MLS; Urban Commercial Partners, LLC

PRICE $1,150,000 dsIDX morgage calculator
BEDS 0
BATHS 0
HOME SIZE 5,808 sqft
LOT SIZE 5,999 sqft
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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.

LAST UPDATED 6/4/2025 NEIGHBORHOOD Puyallup
YEAR BUILT 1900 COMMUNITY Puyallup
COUNTY Pierce STATUS Active
PROPERTY TYPE(S) Multi Family


ADDITIONAL DETAILS
AIR CONDITIONING Yes
AREA 81 - Puyallup
BASEMENT Yes
CONSTRUCTION Stone, Stucco
HEAT Electric, Radiant
INTERIOR Laminate Tile
LOT 5998 sq ft
LOT DESCRIPTION Paved, Sidewalk
MLS STATUS Active
STORIES 3
STYLE 55 - 5-9 Units
SUBDIVISION Puyallup
TAXES 7454
UTILITIES Sewer Connected
WATER Public
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Properties with the Logo icon are courtesy of Northwest MLS.

Listings courtesy of Northwest MLS as distributed by MLS GRID. Based on information submitted to the MLS GRID as of 8/4/25 9:37 AM PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. IDX information is provided exclusively for consumers’ personal noncommercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. 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.

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