Large Duplex with Tandem
For Sale
$834,900
12408 82nd Avenue E, Puyallup, WA 98373
Two-level units offer flexible layouts, private patios, fenced rear yards, and off-street parking in a multi-family setting.
Property Size3,478 SF
Days on Market32
Property Features for 12408 82nd Avenue E
General Information
Standard status
Active
Size
3,478 SF
Total Parking Spaces
10
Property subtype
Residential Income
Zoning
Multi-Family
Occupancy
50%
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
2 x 3BR/1.75BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,382
Building Details
Building Size
3,478 SF
Year Built
1989
Buildings
1
Units
2
Listing Agency:
Real Estate Gladiators
(206) 841-2687
Listed By:
Greg Gallagher
(206) 841-2687
Source:
Multifamilyspecialist
Added: Jul 17
Changed: Aug 15
Last Checked: Aug 16 at 3:49PM
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 Real Estate Gladiators
Investment Insights
Based on property information with market context.
This 1989 duplex provides two substantial residences, each measuring 1739 sqft. Both sides feature two upper-level bedrooms, a full hall bath, vaulted living and dining areas, and updated kitchens. Sliding doors connect the dining rooms to private rear patios. Lower levels add a large office or bonus room with closet, a 3/4 bathroom, laundry, and a deep tandem garage. The property sits on over a half-acre with broad front lawns, fenced rear yards, and a divider fence between the units.
Located at 12408 82nd Avenue E in Puyallup, the duplex is approximately 5 minutes from South Hill Mall, Costco, Lowe’s, Home Depot, restaurants, and shopping. Highway 512 is about 7 minutes away. Multi-Family zoning supports the property’s duplex configuration.
Located at 12408 82nd Avenue E in Puyallup, the duplex is approximately 5 minutes from South Hill Mall, Costco, Lowe’s, Home Depot, restaurants, and shopping. Highway 512 is about 7 minutes away. Multi-Family zoning supports the property’s duplex configuration.
Key Highlights
- Two‑unit duplex with 1739 sqft per side
- Each unit includes two upstairs bedrooms, a full hall bath, and vaulted living and dining areas
- Lower levels feature office or bonus rooms, 3/4 bathrooms, laundry, and deep tandem garages
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$45,631
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.47%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$912,620
$912.6K
Cap Rate 7%
$651,871
$651.9K
Cap Rate 9%
$507,011
$507.0K
Market Conditions
NOI Build-Up for 3,478 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$70.1K $20.16/SF
− Vacancy
−$4.9K −$1.42/SF
EGI
$65.2K $18.74/SF
− OpEx
−$19.6K −$5.62/SF
NOI
$45.6K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$912,620
Cap Rate 7%
$651,871
Cap Rate 9%
$507,011
Alternative Uses
Best Use
Multifamily LT 5
$651.9K
$570.4K – $760.5K
NOI $45,631 @ 7.0% cap · market cap 5.47%
Second Best
Apartment 5plus
$601.2K
$526.1K – $701.5K
NOI $42,087 @ 7.0% cap · market cap 5.04%
Theoretical Best
Office A
$939.4K
$822.0K – $1.10M
NOI $65,756 @ 7.0% cap · market cap 7.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
50%
Occupancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
130
Businesses Nearby
Explore this area
Business Placement
Demographics for 98373, WA
28,165
Population
11,113
Households
2.5
Avg Household Size
35
Median Age
26%
College-Educated
94%
High-School Grad
9.4 sq mi
ZIP Area
2,996
Density / Sq Mi
$102,791
Median Household Income
$51,865
Median Earnings
$1,823
Median Rent
$517,600
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-level units offer flexible layouts, private patios, fenced rear yards, and off-street parking in a multi-family setting.
Where is this duplex located?
The property is located at 12408 82nd Avenue E Puyallup, WA.
What is the asking price?
The asking price for this property is $834,900.
What are key features of this property?
This property features: Two‑unit duplex with 1739 sqft per side; Each unit includes two upstairs bedrooms, a full hall bath, and vaulted living and dining areas; Lower levels feature office or bonus rooms, 3/4 bathrooms, laundry, and deep tandem garages
