Fairview Apartments

The Fairview Apartments provides the opportunity for an investor to walk into ownership with a turn key asset, or push rents without any further renovations. Comparable 2 bedroom units in the area rent between $1,450-$1,500. With some additional upgrades, an investor could push rents further in the next tier of bedrooms in the area renting between $1,525-$1,595. The Puyallup market remains one of the hottest rental markes in the Puget Sound Region with very little vacancy and increasing rental rates. Per CoStar Analytics, rents have risen 5.01% since May 2020, and has shown an annualized increase of approximately 10%. The property is ideally located a few blocks from the Washington State Fairgrounds & Events Center, Good Samaritan Hospital, and Highway 512, which provides tenants with immediate access to Seattle, Kent, Tacoma and Sumner Valley.