Two-Unit Duplex with Extra
For Sale
$775,000
12012 115th Avenue Ct E, Puyallup, WA 98374
Each residence includes two bedrooms, two full bathrooms, and a gas fireplace.
Property Size2,462 SF
Price / SF$314.78
Days on Market51
Property Features for 12012 115th Avenue Ct E
General Information
Standard status
Active
Size
2,462 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Amenities
gas fireplace
fenced backyard
Building Details
Year Built
1994
Listing Agency:
John L. Scott, Inc.
Listed By:
David A. Larsen
(253) 841-7000
Source:
Larissabutlerrealty
Added: Aug 25
Changed: Oct 11
Last Checked: Oct 5 at 11:36PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of John L. Scott, Inc.
Investment Insights
Based on property information with market context.
Built in 1994, this 2,462-square-foot duplex contains two matching residences, each arranged with two bedrooms, two full bathrooms, a kitchen, dining area, and a separate living room featuring a gas fireplace. The layout supports both rental use and an owner-occupant arrangement, with one residence available for personal use while the other is leased.
The property sits on a dead-end street at 12012 115th Avenue Ct E in Puyallup. Both units have access to an oversized, fenced backyard, and the offering includes an additional 30x165 lot. Restaurants, shopping, a movie theater, and public transit are nearby, with freeway access and JBLM also within the surrounding commute network.
The property sits on a dead-end street at 12012 115th Avenue Ct E in Puyallup. Both units have access to an oversized, fenced backyard, and the offering includes an additional 30x165 lot. Restaurants, shopping, a movie theater, and public transit are nearby, with freeway access and JBLM also within the surrounding commute network.
Key Highlights
- 2,462‑square‑foot duplex built in 1994
- Two matching units, each with 2 bedrooms and 2 full bathrooms
- Gas fireplace, kitchen, and dining area in each residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,301
Cap Rate
4.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$646,020
$646.0K
Cap Rate 7%
$461,443
$461.4K
Cap Rate 9%
$358,900
$358.9K
Market Conditions
NOI Build-Up for 2,462 SF
Gross rent
$49.6K $20.16/SF
− Vacancy
−$3.5K −$1.42/SF
EGI
$46.1K $18.74/SF
− OpEx
−$13.8K −$5.62/SF
NOI
$32.3K $13.12/SF
Area
Pierce County, WA
Vacancy
7.03%
Lease Rate
$20.16 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$646,020
Cap Rate 7%
$461,443
Cap Rate 9%
$358,900
Alternative Uses
Best Use
Multifamily LT 5
$461.4K
$403.8K – $538.4K
NOI $32,301 @ 7.0% cap · market cap 4.17%
Second Best
Apartment 5plus
$425.6K
$372.4K – $496.6K
NOI $29,793 @ 7.0% cap · market cap 3.84%
Theoretical Best
Office A
$665.0K
$581.8K – $775.8K
NOI $46,547 @ 7.0% cap · market cap 6.01%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
241
Businesses Nearby
Explore this area
Business Placement
Demographics for 98374, WA
45,367
Population
16,645
Households
2.7
Avg Household Size
37
Median Age
29%
College-Educated
94%
High-School Grad
16.4 sq mi
ZIP Area
2,766
Density / Sq Mi
$108,854
Median Household Income
$56,744
Median Earnings
$1,925
Median Rent
$491,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Each residence includes two bedrooms, two full bathrooms, and a gas fireplace.
Where is this duplex located?
The property is located at 12012 115th Avenue Ct E Puyallup, WA.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: 2,462‑square‑foot duplex built in 1994; Two matching units, each with 2 bedrooms and 2 full bathrooms; Gas fireplace, kitchen, and dining area in each residence
