Duplex with Attached
New
For Sale
$549,000
8224 59th Avenue E, Puyallup, WA 98371
Each residence has two bedrooms, laundry hookups, and ducted heating and cooling.
Property Size1,943 SF
Price / SF$282.55
Days on Market4
Property Features for 8224 59th Avenue E
General Information
Standard status
Active
Size
1,943 SF
Total Parking Spaces
8
Property subtype
Multi-Family
Net Operating Income
$30,825
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,482
Amenities
composite deck
partially fenced backyards
Laminate,Carpet
Yes
No
1
4
Electric
Cul-De-Sac,Dead End Street,Paved
Private
Deck,Fenced-Fully,Patio,RV Parking
8
2
0.293
RV Parking
Cement/Concrete
Poured Concrete
1943
6
Building Details
Building Size
1,943 SF
Year Built
1974
Buildings
1
Stories
1
Listing Agency:
KW NCW
(541) 241-6860
Listed By:
Jennifer Goodman · License #201237023
(541) 815-6975
Source:
Premierepropertygroup
Added: Oct 11
Changed: Oct 13
Last Checked: Oct 12 at 5:17PM
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 KW NCW
Investment Insights
Based on property information with market context.
This 1,943-square-foot duplex, built in 1974, contains two matching residences, each with two bedrooms, a living room, kitchen, dining area, and bathroom. Both units have an attached one-car garage with laundry hookups, laminate and carpet flooring, and ducted forced-air heating and cooling. Kitchen appliances are included; tenant-owned washers and dryers are excluded.
The property occupies a level 0.293-acre lot at the end of a cul-de-sac. Partially fenced backyards, a composite deck, and a greenbelt behind the property provide outdoor space. The site is approximately 2 miles from Hwy 512, with access to I-5 also noted.
The property occupies a level 0.293-acre lot at the end of a cul-de-sac. Partially fenced backyards, a composite deck, and a greenbelt behind the property provide outdoor space. The site is approximately 2 miles from Hwy 512, with access to I-5 also noted.
Key Highlights
- Two units with matching layouts; each has two bedrooms
- 1,943 square feet on a 0.293‑acre lot
- Attached one‑car garage and laundry hookups in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,492
Cap Rate
4.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$509,840
$509.8K
Cap Rate 7%
$364,171
$364.2K
Cap Rate 9%
$283,244
$283.2K
Market Conditions
NOI Build-Up for 1,943 SF
Gross rent
$39.2K $20.16/SF
− Vacancy
−$2.8K −$1.42/SF
EGI
$36.4K $18.74/SF
− OpEx
−$10.9K −$5.62/SF
NOI
$25.5K $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%
$509,840
Cap Rate 7%
$364,171
Cap Rate 9%
$283,244
Alternative Uses
Best Use
Multifamily LT 5
$364.2K
$318.7K – $424.9K
NOI $25,492 @ 7.0% cap · market cap 4.64%
Second Best
Apartment 5plus
$335.9K
$293.9K – $391.9K
NOI $23,512 @ 7.0% cap · market cap 4.28%
Theoretical Best
Office A
$524.8K
$459.2K – $612.3K
NOI $36,735 @ 7.0% cap · market cap 6.69%
Zoning and permitted uses should be independently verified with authorities.
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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
122
Businesses Nearby
Explore this area
Business Placement
Demographics for 98371, WA
23,965
Population
9,937
Households
2.4
Avg Household Size
41
Median Age
29%
College-Educated
93%
High-School Grad
11.8 sq mi
ZIP Area
2,031
Density / Sq Mi
$97,290
Median Household Income
$53,957
Median Earnings
$1,654
Median Rent
$515,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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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 has two bedrooms, laundry hookups, and ducted heating and cooling.
Where is this duplex located?
The property is located at 8224 59th Avenue E Puyallup, WA.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: Two units with matching layouts; each has two bedrooms; 1,943 square feet on a 0.293‑acre lot; Attached one‑car garage and laundry hookups in each unit
