Flip OR Development Site near DT Puyallup 🔥

433 10th Ave SE, Puyallup, WA 98372, USA

All photos/videos: https://drive.google.com/drive/folders/1Iro_T3sC_ce3JlGAOvwh_Lg9zb4pZ0Pw?usp=sharing

Potential development opportunity (or flip). Currently a fire damaged house on the property, recommend tearing it down and building townhouses or a triplex per the RM20 zoning. Property is conveniently located just minutes from downtown Puyallup, Good Sam hospital, and the Washington State Fairgrounds.

Zoning: RM20. Per code 20.25.2022 - Maximum density (2) RM -20, this property is in the downtown planned action area.
https://www.codepublishing.com/WA/Puyallup/html/Puyallup20/Puyallup2025.html#20.25.000

Highest and best use: There is no maximum density for lots in RM-20. Best use is to fit 6 townhouses or condominiums on the lot. Similar layout to the Midtown condominiums on 334 9th Ave SE. 

Other alternative is to build new construction SF or MF.

Text Jem @ 425-390-4455 for fastest response

Property Info

• 2 beds / 1 baths / 864sqft
• Year built: 1964
• Zoning: PUY
• Condition notes: Major rehab/teardown
• House ARV: $470,000 (Comps)

Terms

• Purchase Price: $265,000
• ARV: $465,000
• Closing Date: 10/24/24 or sooner
• Buyer pays both closing costs, seller pays excise tax
• Non-refundable EM due from buyer: $10,000
• Property is sold in AS-IS condition

Text Jem @ 425-390-4455 for fastest response

Comps

ARV for triplex: $760k+

705 4th Ave SW, Puyallup, WA 98371 

Pending 9/10/24 for $775k

2058 sq ft. Less busy part of town; fully remodeled; smaller lot.

https://www.redfin.com/WA/Puyallup/705-4th-Ave-SW-98371/home/2912045

508 7th Ave NW, Puyallup, WA 98371

Sold 4/11/24 for $710k

3138 sq ft. Bigger lot with shop; not remodeled; bigger lot.

https://www.redfin.com/WA/Puyallup/508-7th-Ave-NW-98371/home/17091124