Listed by Denise Christofferson • Keller Williams Realty PS.
For sale
$550,000
Est. $3,355/mo —
4
bd
•
2 ba
•
1,864
sq ft
246 4th Ave NW, Puyallup, WA 98371
About this home
Historic 1906 charm meets investment opportunity in the heart of Downtown Puyallup. This versatile duplex offers the flexibility to rent both units, live in one while generating rental income from the other, or explore future possibilities with Commercial Business District zoning—buyer to verify permitted uses. Both units are 2 bedroom 1 bath each, and offer washer and dryer hookups. Original character shines through with hardwood floors beneath the carpet in the lower unit. Outside, the large corner lot offers alley access, a fully fenced yard, one-car detached garage, and one-car covered carport. The location is hard to beat, with excellent walkability and easy access to Downtown Puyallup shops, restaurants, seasonal markets, Pioneer Park, and local events like Thursday night Music in the Park. The Sounder Train Station, freeway access, schools, Good Samaritan Hospital, and numerous medical clinics are all just minutes away. Whether you're looking to expand your investment portfolio, live in one unit while offsetting your expenses, or capitalize on the property's central location and zoning, this is a compelling opportunity in the heart of Puyallup.
Multi-familyProperty Type
1906Year Built
7,200 sq ftLot Size
$295Price/Sq.Ft.
1 garage spacesParking
Listed by Denise Christofferson• Keller Williams Realty PS
Downtown Puyallup, located between the Puyallup River and South Hill, is a historic and walkable Puyallup neighborhood with a courthouse square feel and a fairgrounds pulse. The character concentrates around the Meridian (WA-161) and E Main Ave crossroads, where brick storefronts, coffee counters, and small galleries line the sidewalks. The Washington State Fair Events Center sets the calendar, while the Puyallup Farmers’ Market brings a weekly street-level rhythm. Meeker Mansion anchors the Victorian-era story, and Anthem Coffee & Tea keeps the day moving. Early-20th-century commercial blocks mix with restored homes on side streets. The Sounder station and riverfront trails tie daily routines to the region’s rail-and-river geography.
Provided by Walk Score and Local Logic
Property details
Interior
Exterior
Finance
Kitchen
Bathroom
Bedroom
Living
Dining
Interior features
Hardwood, vinyl, and carpet flooring
Bedrooms
Two 2-bedroom units (Main Floor Unit and Upper Unit)
Bathrooms
Each unit has 1 bathroom
Kitchen
Main Floor Unit: range/oven, refrigerator, dishwasher
Upper Unit: range/oven, refrigerator (no dishwasher listed)
Laundry & utility
Both units include washer and dryer
Flooring
Hardwood
Vinyl
Carpet
Heating & cooling
Baseboard heating
Forced air heating
Wall furnace
No central air cooling listed
Exterior features
Wood exterior
Corner lot with alley access
Curbs, paved streets and sidewalks
Gas available on site
Home design
Duplex (residential income, multi-family)
2 stories
Built/Effective year 1974
Parking
1-car garage
1 covered carport space
2 additional uncovered parking spaces
Construction
Wood construction
Composition roof
Utilities
Electric and natural gas service
Sewer connected (City of Puyallup)
Water provided by City of Puyallup
Power provided by PSE
HOA & community
No association fees (Not Applicable)
Financial info
Property listed for cash or conventional financing
Gross scheduled income: $12,900
Gross adjusted income: $12,900
Total monthly income reported: $1,075
Net operating income: $3,866
Total expenses: $9,034
Insurance expense: $1,737
Gross rent multiplier: 42.63
Vacancy rate: 5%
Two units total in the building
Electricity and solar
View estimated energy costs and solar savings for this home
The CBD zone is intended to provide for commercial services in a fashion that preserves and enhances the pedestrian scale and historic character of development in Puyallups downtown area and commuter rail station center areas. Both the CBD and the CBD-Core zones are also intended for residential development, with either mixed- or single-use development anticipated in the CBD zone, and mixed-use residential in the CBD-Core zone. While the two zones are similar in intent, the CBD-Core zone is intended to develop at a more intense level of development than the surrounding CBD zone and allowed building heights being up to between 4 and 6 stories. Small, independent shops and offices are typical to this district
Permitted uses
Include but are not limited to:
Community / recreation center
Religious facility
Day care facility
Housing-Senior
Housing-Student
Office
Public service
Recreation
Veterinary clinic
Climate risks
5/10 Flood Factor
Estimated 55-67% chance of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
3/10 Heat Factor
7 days above 89° expected this year, 16 days in 30 years
1/10 Wind Factor
Minimal risk of severe winds over next 30 years
7/10 Air Factor
11 unhealthy days expected this year, 12 days in 30 years
Provided by First Street
Historical weather
Puyallup, WA • 98371
Average low and high temperatures (°F)
46
35
49
36
54
40
62
42
68
48
74
52
79
57
77
58
72
54
61
45
52
42
49
39
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
90/ 100
Exceptional sunlight
Sunscore
There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
10.3 hrs
4.9 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 246 4th Ave NW
$549,338
$662 under list price of $550K
Nearby comparable homes
The Redfin Estimate uses 6 recent nearby sales, priced between $475K to $625K.