Turnkey 5-unit investment opportunity in the heart of Downtown Puyallup! Extensively updated and exceptionally maintained, this property features five spacious 2-bedroom, 1-bath residences of approximately 775 square feet each, with beautifully remodeled interiors designed for lasting tenant appeal. Major improvements include a new roof in 2025, replaced electrical breaker panels throughout and upgraded triple-pane vinyl windows. Strong in-place rents provide immediate income, while the on-site coin-operated laundry offers an additional revenue stream. Situated on a generous 14,400 square foot corner lot with eight covered carport spaces plus three additional parking spaces. An outstanding location just blocks from the Puyallup Sounder Station and moments from downtown dining, shopping and amenities. A rare opportunity to acquire a renovated, income-producing 5-plex with significant capital improvements already completed in one of Puyallup’s most convenient locations.
Active
Listed by: Windermere Real Estate/PSK Inc • Tyler Freed
$1,250,000
408 2nd Street NW, Puyallup, WA 98371
10beds
5baths
3,986sqft
Multi Family
Built in 1976
-- sqft lot
$-- Zestimate®
$314/sqft
$-- HOA
What's special
On-site coin-operated laundryUpgraded triple-pane vinyl windowsBeautifully remodeled interiorsNew roofThree additional parking spacesEight covered carport spaces
- 22 hours
- 73
- 4
Zillow last checked:
Listing updated:
Listed by:
Tyler Freed,
Windermere Real Estate/PSK Inc
Source: NWMLS as distributed by MLS GRID,MLS#: 2574077
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 10
- Bathrooms: 5
Heating
- Wall Furnace, Electric
Cooling
- None
Features
- Flooring: Vinyl, Carpet
- Windows: Thermal Windows
- Has fireplace: No
Interior area
- Total structure area: 3,986
- Total interior livable area: 3,986 sqft
Property
Parking
- Total spaces: 19
- Carport spaces: 8
- Uncovered spaces: 11
Features
- Has view: Yes
- View description: Territorial
Lot
- Size: 0.33 Acres
- Features: Curbs, Paved, Sidewalk
Details
- Parcel number: 7940700330
- Zoning description: Multi-Family
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Architectural style: 5-9 Units
- Property subtype: Multi Family
Materials
- Cement/Concrete, Wood Products
- Foundation: Poured Concrete
- Roof: Composition
Condition
- Year built: 1976
- Major remodel year: 1988
Utilities & green energy
- Electric: Company: Puget Sound Energy
- Sewer: Sewer Connected, Company: City of Puyallup
- Water: Public, Company: City of Puyallup
Green energy
- Energy efficient items: Thermal Windows
Community & HOA
Community
- Subdivision: Puyallup
Location
- Region: Puyallup
Financial & listing details
- Price per square foot: $314/sqft
- Tax assessed value: $731,200
- Annual tax amount: $8,924
- Date on market: 9/8/2026
- Cumulative days on market: 2 days
- Listing terms: Conventional
Estimated market value
Not available
Estimated sales range
Not available
$1,868/mo
Price history
| Date | Event | Price |
|---|---|---|
| 9/9/2026 | Listed for sale | $1,250,000+89.4%$314/sqft |
Source:  NWMLS as distributed by MLS GRID #2574077 Report a problem | ||
| 3/24/2021 | Listing removed | -- |
Source: Owner Report a problem | ||
| 9/8/2017 | Sold | $660,000+88.6%$166/sqft |
Source: NWMLS as distributed by MLS GRID #1179644 Report a problem | ||
| 7/6/2013 | Listing removed | $800 |
Source: Owner Report a problem | ||
| 5/7/2013 | Listed for rent | $800 |
Source: Owner Report a problem | ||
| 12/16/2003 | Sold | $350,000+41.6%$88/sqft |
Source: Public Record Report a problem | ||
| 11/21/2000 | Sold | $247,250$62/sqft |
Source: NWMLS as distributed by MLS GRID #20110088 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $8,924 -4.6% | $731,200 -5% |
| 2024 | $9,352 +12.9% | $769,700 |
| 2023 | $8,284 +3.8% | $769,700 |
| 2022 | $7,982 -2.4% | $769,700 +10% |
| 2021 | $8,179 +37.2% | $699,700 +24% |
| 2019 | $5,959 +2.1% | $564,400 +25% |
| 2018 | $5,835 +8% | $451,600 +15% |
| 2017 | $5,402 -7.8% | $392,700 +21% |
| 2016 | $5,857 | $324,500 -12.3% |
| 2014 | $5,857 +0% | $370,200 |
| 2013 | $5,856 | $370,200 |
| 2012 | -- | $370,200 |
| 2011 | -- | $370,200 -3.4% |
| 2010 | -- | $383,300 -6.6% |
| 2009 | -- | $410,200 |
| 2008 | $3,534 | $410,200 +21.6% |
| 2007 | $3,534 +8.4% | $337,400 +54.3% |
| 2002 | $3,260 +17.1% | $218,700 |
| 2001 | $2,784 | $218,700 +21.1% |
| 2000 | $2,784 | $180,600 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: Downtown
Nearby schools
Schools provided by the listing agent
- Elementary: Stewart Elem
- Middle: Kalles Jnr High
- High: Puyallup High
Source: NWMLS as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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