$4,000,000
Est. $21,982/mo219 5th Street, Puyallup, WA 98372
• Listed Oct 1, 2026•430 days active · 430 cumulative
Listing Broker: Kidder Mathews; David A. Kelley; 360-705-2800; austin.kelley@kidder.com
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Listing Broker: Kidder Mathews; David A. Kelley; 360-705-2800; austin.kelley@kidder.com
About this home
JUST LISTED - Garden Square apartments, a 21-unit multifamily property centrally located at 219 12th Ave SE, Puyallup, WA 98372. Featuring large average floor plans of 934 SF — well above typical unit sizes for comparable product in the submarket — Garden Square provides a clear value-add pathway through a continued renovation program, including updated kitchens, bathrooms, flooring, and modern finishes tailored to today's renter expectations. New ownership can continue this in-place renovation strategy to increase monthly rents by approximately 12%, unlocking substantial gains in net operating income as units turn. In addition to its generously sized floor plans, the property benefits from a centralized Puyallup location, offering convenient access to neighborhood retail / employment centers / downtown Puyallup, positioning the asset to appeal to a broad renter base seeking larger, more livable units at accessible rents. Garden Square represents a high-quality foundation for continued value - add execution, with Garden Square's oversized unit layouts serving as a key differentiator from the market's typical unit mix. Its size, location, and renovation runway make it well-suited to support both existing tenant retention and rent growth as the improvement program continues.
Listed by David A. Kelley • Kidder Mathews
Listing updated: October 1, 2026 at 11:17am
RexMont checked: moments ago
Source: NWMLS as Distributed by MLS Grid #2589855
Around this home
How much should you offer?
219 5th Street, Puyallup, WA 98372
Source:RexMont analysis of Northwest MLS sales data for this ZIP code plus third-party market data (RentCast). The estimates are RexMont's, not Northwest MLS listing data.
Estimates only and not guaranteed. Consult a RexMont agent for accurate, personalized guidance before making an offer. RexMont OfferEdge™ · © 2026 RexMont Real Estate. Proprietary tool.
Property details
Layout
- 10+ Units
Flooring
- Vinyl Plank
Heating & cooling
- Baseboard heating
- None cooling
Schools
Ratings via SchoolDigger- Stewart ElementaryPublic · Grades PK-6 · 0.1 mi · State rank 736 of 1,1384/10
- Kalles Junior HighPublic · Grades 7-9 · 0.4 mi · State rank 105 of 5148/10
- Puyallup High SchoolPublic · Grades 10-12 · 0.7 mi · State rank 81 of 3968/10
Schools shown are the nearest public Elementary, Middle, and High school for this property and may not be the assigned schools. Verify attendance boundaries with the district before purchasing.
Multi-family facts
As entered by the listing broker on Northwest MLS
Units
- Total units
- 21
- Units in building
- 21
- Units below grade
- false
Income & expenses
- Gross scheduled income
- $432,524
- Total monthly income
- $36,043
- Additional monthly income
- $3,413
- Gross adjusted income
- $410,897
- Net operating income
- $233,184
- Cap rate
- 5.8%
- Gross rent multiplier
- 9.73
- Vacancy rate
- 5%
- Total expenses
- $177,712
- Insurance
- $23,431
- Other expenses
- $71,994
- Water / sewer / garbage paid by
- 40063
Parking & storage
- Parking spaces
- 20
- Uncovered parking
- 20
Taxes & assessment
- Annual taxes
- $42,224
- Tax year
- 2026
- Financing
- Conventional
Neighborhood mobility
Doorstep, Pedal & Station Scores
Three RexMont scores for this exact address: what is on foot, what is by bike, and what rides past the door.
Ground Truth™
The ground, the slope, the flood zone and the noise at this address
Read from public hazard, flood, terrain and noise maps for this exact home.
Address Insider™
The members' report
Commute, transit, zoning and ADU potential, internet providers and the lifestyle around the home: the nearest grocery, coffee, park, services and transit stop. One free registration opens every home on rexmont.com.
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Sales & Tax Records for 219 5th Street
NWMLS via MLS Grid · Pierce County AssessorEvery listing, pending, price change and closing filed on this home with the NWMLS, the county’s recorded sales, and its assessed values by tax year.
- Oct 1, 2026ListedNWMLS via MLS Grid · #2589855$4,000,000
- Oct 26, 2023Recorded salePierce County recorder · Statutory warranty deed$3,850,000
- May 15, 2006SoldNWMLS via MLS Grid · #26021498$1,550,000
- Mar 15, 2006PendingNWMLS via MLS Grid · #26021498$1,495,000
- Feb 13, 2006ListedNWMLS via MLS Grid · #26021498$1,495,000
Mortgage payment forecast
$26,501 per month
Great rateTakes about 5 minutes & won't affect your credit
Get pre-approvedSource: RexMont estimate, not Northwest MLS listing data. Interest rates from Freddie Mac's Primary Mortgage Market Survey via FRED (Federal Reserve Bank of St. Louis). Property tax and HOA dues from the NWMLS listing where provided, otherwise estimated; insurance estimated at 0.3% of price per year.
Estimate only. Actual payment depends on credit, lender, and program. PMI not included for down payments below 20%.
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Listing Broker: Kidder Mathews; David A. Kelley; 360-705-2800; austin.kelley@kidder.com
Market pulse
Puyallup is a balanced market.
Supply and demand are roughly in balance. Neither side has a clear edge.
Offer insight: Homes typically sell with one offer near asking price.
List to sale price: The average home sells very close to list price.
Time on market: The average home goes pending in around 75 days.
Recent sales nearby
Within 1 mile · last 6 months$539,900 Sold
1 week ago
4 bd•1.75 ba•~1,391 sq ft•Single Family
708 5th Avenue SE, Puyallup, WA 98372
0%
Over list
—
Days on market
0.4 mi
Distance
$465,000 Sold
2 weeks ago
3 bd•1 ba•~1,236 sq ft•Single Family
1209 10th Avenue SE, Puyallup, WA 98372
2%
Under list
36
Days on market
0.8 mi
Distance
$338,000 Sold
2 weeks ago
3 bd•1 ba•~960 sq ft•Single Family
520 12th Street SE, Puyallup, WA 98372
4%
Over list
35
Days on market
0.6 mi
Distance
$525,000 Sold
3 weeks ago
3 bd•1.5 ba•~1,420 sq ft•Single Family
1110 13th Street SE, Puyallup, WA 98372
0%
Over list
56
Days on market
0.9 mi
Distance
$559,000 Sold
3 weeks ago
3 bd•1.75 ba•~1,606 sq ft•Single Family
11005 Morning Side Drive E, Puyallup, WA 98372
2%
Over list
50
Days on market
0.7 mi
Distance
Closed sales from MLS GRID / NWMLS within the past 6 months, matched on property type and within 1 mile. Comps approximate.
Want a deeper read on this market?
Ask a RexMont agentMarket data from MLS GRID / NWMLS · Updated Oct 2026
Information and statistics derived from Northwest Multiple Listing Service. Source: Northwest Multiple Listing Service, as distributed by MLS GRID.
MLS GRID Disclaimer
Based on information submitted to the MLS GRID as of October 25, 2026 at 11:12 AM PT (date and time MLS GRID Data was obtained). 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.
Listing information courtesy of Northwest Multiple Listing Service (NWMLS). The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than RexMont Real Estate are marked with the “Listing courtesy of NWMLS” designation. Information provided is for the consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
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© 2026 Northwest Multiple Listing Service. All rights reserved.
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