Bought with Coldwell Banker Bain
$3,700,000
$4,088,888
9.5%For more information regarding the value of a property, please contact us for a free consultation.
Address not disclosed Puyallup, WA 98446
6.38 Acres Lot
Key Details
Sold Price $3,700,000
Property Type Vacant Land
Sub Type Land
Listing Status Sold
Purchase Type For Sale
Subdivision Puyallup
MLS Listing ID 1735919
Sold Date 04/19/21
Style 42 - Multi-Family
Lot Size 6.382 Acres
Property Sub-Type Land
Property Description
Canyon Creek Apartment opportunity w/SEPA approval & Commercial Site Development county approval for a 136 Unit Apartment Project. Amazing location assemblage of 6.5 acres off Canyon Park, behind Albertsons. All approved Site Engineering, Architectural plans, and Land included in the List price. Summer 2021 build. 81 Units 1 Bed/1Bath and 55 Units 2 bed/2 Bath. Site approved for 5 buildings in the Woody Walkup style with 130 individual garages, 295 additional parking spaces. Market value of the built out project with certificate of occupancy is estimated at $36+ million+. Great return with a 5 cap, plus initial buildout profit. Adjacent to newer construction 5100 Summit apartments with stable rents! Must see opportunity, wont last long.
Location
State WA
County Pierce
Area 85 - Puyallup
Interior
Fireplace false
Exterior
Utilities Available Natural Gas Available, Electricity Available
View Y/N No
Garage No
Building
Lot Description Paved
Sewer Available
Water In Street
Schools
School District Puyallup
Others
Senior Community No
Acceptable Financing Cash Out
Listing Terms Cash Out
Read Less
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