10909 50th Ave E, Puyallup, WA 98446
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.
Broker: Chip McBroom (50127)
Office: Windermere Real Estate Central
Property Details
SOLD: $3,700,000
Address: 10909 50th Ave E
City: Puyallup
State: WA
Zip: 98446
MLS#: 1735919
Baths: n/a
Square Feet: n/a
Garage: n/a
Year Built: n/a
Status: Sold