#2387090, Tyler J. Bretz, Listing office: Urban Commercial Partners, LLC
#2387690·
Listing office: Urban Commercial Partners, LLC·
Listing agent: Tyler J. Bretz·
Listing office phone: 206-325-9333
$1,150,000 List price
408 N Meridian Puyallup, WA 98371
5,808 sqft
0.1 acres
$198 / sqft
House
Property details
About 408 N Meridian
Meridian Castle, located in the heart of Downtown Puyallup, presents a rare investment opportunity in a thriving market. Currently 100% occupied, the property generates $75,524 in NOI, reflecting an in-place 6.3% cap rate, with rents positioned below market expectations. Significant revenue upside exists through rent increases, utility bill-backs, storage leasing, and laundry income, all of which remain untapped by current ownership. With operational stabilization, the asset is projected to achieve a 7.45% proforma cap rate, reinforcing its long-term investment appeal. This property is available for sale individually or as part of a portfolio offering alongside 112 4th Ave SE, Puyallup.
Highlights
HeatingRadiant
StatusActive
Size5,808 sqft
Lot size0.1377 Acres
Year built1900
MLS #2387690
Summary
- Flooring Type: Engineered Hardwood, Laminate, Vinyl, Carpet
- Interior: Laminate Tile
- Exterior: Stone, Stucco
- Heating: Radiant
- List Price: $1,150,000
- Price/SqFt: $198
- HOA Amount: $0
- Annual Tax Amount: $6,637
- Tax Year: 2024
- Lot: Paved, Sidewalk
- Directions: Take I-5 S from Seattle. Merge onto WA-167 S toward Kent/Auburn. Continue on WA-167 S until reaching Puyallup. Take the exit for Meridian St and head south. Arrive at 408 N Meridian.
- Year Built: 1900
- Stories: 3
- Living Area: 5,808 SqFt
- Lot Size: 0.1377 Acres
- MLS Number: 2387690
- MLS Name: NWMLS
- Office Name: Urban Commercial Partners, LLC
- Office Phone: (206) 325-9333
- Listing Agent: Tyler J. Bretz
Listings courtesy of Northwest Multiple Listing Service as distributed by MLS GRID.
All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Properties displayed may be listed or sold by various participants in the MLS.
DMCA Notice
The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Northwest Multiple Listing Service IDX. Real estate listings held by other brokerage firms are marked with the green "three trees" logo and includes the name of the listing broker(s). Copyright © 2025 Northwest MLS. All rights reserved.
DMCA Notice
Disclaimer: Information contained in this listing has not been verified by Rocket Homes Real Estate, LLC and should be verified by the buyer. All information deemed reliable but not guaranteed and should be independently verified through personal inspection by and/or with the appropriate professionals. All properties are subject to prior sale, change or withdrawal. Neither broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The information on this web site is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Days on site is calculated from the listing date of the current listing and includes the sum of market time from prior listings for the same property uninterrupted by a sale or more than 60 days off-market. Time off market, including time when a sale is pending, temporarily off market, etc. is not included. NorthwestMLS
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 7/24/2025, 4:32:33 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Price information
Property sales
| Date | Event | Price |
|---|---|---|
| Dec 30, 2021 | Home Sold | $949,200 |
| Jan 02, 1991 | Home Sold | $143,000 |
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2024 | $548,300 | $6,637 |
| 2023 | $548,300 | $6,302 |
| 2022 | $476,800 | $6,137 |
| 2021 | $447,400 | $6,205 |
| 2020 | $447,400 | $6,105 |
| 2018 | $358,400 | $5,006 |
| 2017 | $312,400 | $5,006 |
History based on county public records data.
Nearby schools
3
Stewart Elementary School
Public District PK-6
0.2 mi
•426 4th Ave NE
5
Meeker Elementary School
Public District PK-6
0.4 mi
•409 5th St SW
7
Maplewood Elementary School
Public District PK-6
0.8 mi
•1110 W Pioneer
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $55,538. Most Puyallup, WA residents have annual incomes between $35k-100k. The most common type of family is single, no kids. The most common level of education of people living in this area is high school diploma.
How much money do the neighbors make?
32%
<35k
44%
35k-100k
24%
100k-200k
0%
200k+
What level of education do the neighbors have?
High School Diploma
Post Secondary Degree
Masters Degree
What types of families live nearby?
52%
Single, No Kids
13%
Single, with Kids
23%
Married, No Kids
12%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
13%
<11 yrs old
6%
12-17 yrs old
23%
18-34 yrs old
40%
35-64 yrs old
18%
65+ yrs old
What do the neighbors do for fun?
PGA/LPGA
Horse Races
Pro Boxing
Where do the neighbors shop?
Chico's
Stein Mart
Burlington
Where do the neighbors go to eat?
Cracker Barrel
LongHorn Steakhouse
Popeyes
What do the neighbors drive?
Buick
Dodge
Mazda
What do the neighbors listen to?
Soft Adult Contemporary
Contemporary Inspirational
Urban Contemporary
All data provided by Home Junction and Claritas
Similar homes for sale
#2407002, Michael J Jerabek, Listing office: Michael J Real Estate LLC
#2355773, Kelly Ringler-Flores, Listing office: Golden West Properties Inc
#2403242, Leanne Emery, Listing office: Berkshire Hathaway HS NW
5 days on Rocket
#2409156, Devin Scherck, Listing office: Engel & Voelkers Chambers Bay
#2367903, Jaclyn Messer, Listing office: eXp Realty
#2357317, Elise Gregg, Listing office: Keller Williams Realty
#2380753, Leanne Emery, Listing office: Berkshire Hathaway HS NW
#2346339, Nathan Ellis, Listing office: Gateway Real Estate
#2398685, Philamer Adams, Listing office: RE/MAX Parkside Affiliates
Frequently asked questions
About 408 N Meridian
The listing price of 408 N Meridian property is $1,150,000.
The property 408 N Meridian is a house located in Puyallup, Washington, 98371.
Active Listing: 408 N Meridian is For Sale (Active/New) which means the seller is accepting offers.
The nearby schools for 408 N Meridian are: Stewart Elementary School (GreatSchools Rating 3/10), Meeker Elementary School (GreatSchools Rating 5/10), Maplewood Elementary School (GreatSchools Rating 7/10), Puyallup Parent Partnership Program (GreatSchools Rating 5/10), Sumner Middle School (GreatSchools Rating 7/10), Surprise Lake Middle School (GreatSchools Rating 3/10), Puyallup High School (GreatSchools Rating 7/10), Kalles Junior High School (GreatSchools Rating 5/10), Aylen Junior HighSchool (GreatSchools Rating 3/10).
According to the records, the last property tax for 2024 is $6,637 (source: MLS/based on county public records data).
The last sale was on December 30, 2021 for $949,200 (source: MLS/tax record).
The property at 408 N Meridian has 0 bathroom.
The property 408 N Meridian is 5,808 SqFt (source: MLS/tax record).
The year of construction for 408 N Meridian is 1900.
This home is located at 408 N Meridian in Puyallup, WA and zip code 98371 in the Downton Puyallup neighborhood. This 5,808 square foot home, which was built in 1900, sits on a 0.14 acre lot. Features: 0 bathroom. It has been listed on Rocket Homes since June 4, 2025 and is currently priced at $1,150,000.
While more than 55 listings in Puyallup, WA in June 2025 were sold above asking price, there were more than 60 listings sold at asking price, and more than 38 were sold below. The number of homes for sale in Puyallup, WA increased by 12% between May and June 2025. While the average time on the market in June 2025 was 41 days, the median list price was $560,000.
From Rocket Homes Real Estate and based on county public records data.