12815 123rd Street Ct E, Puyallup, WA 98374 (MLS # 2441947)

Listing provided courtesy of Northwest MLS; Northmarq Multifamily, LLC

PRICE	$3,700,000
BEDS	0
BATHS	0
HOME SIZE	13,240 sqft
LOT SIZE	1.41 ac

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We are pleased to present the Sherwood Apartments, an 18-unit multifamily community and a stabilized asset that is 100%occupied with zero delinquency. Built in 1986, this building features 17, 720SF 1BD units and 1, 1,000SF 2BD unit with vaulted ceilings in the top floor units. There is 1 carport per unit and a full size W/D in each. The property is nestled in a quiet residential neighborhood, backed up to a green belt, just 2.5 miles from South Hill Mall. The investment opportunity is offered at $206,000/unit, $279/SF, and delivers a 6.02% Cap Rate. There is value add potential, with room to increase current rents and capitalize on an additional 7.08% of revenue.

LAST UPDATED	10/6/2025	TRACT	South Hill
YEAR BUILT	1986	COMMUNITY	South Hill
COUNTY	Pierce	STATUS	Active
PROPERTY TYPE(S)	Multi Family

ADDITIONAL DETAILS
AIR	None
AREA	86 - Puyallup
CONSTRUCTION	Wood Siding
HEAT	Baseboard, Electric
LOT	1.41 acre(s)
LOT DESCRIPTION	Corner Lot, Dead End Street, Paved, Secluded, Sidewalk
MLS STATUS	Active
SEWER	Septic Tank
STORIES	2
STYLE	56 - 10+ Units
SUBDIVISION	South Hill
TAXES	36922
VIEW	Yes
VIEW DESCRIPTION	Territorial
ZONING	Multi-Family

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Properties with the Logo icon are courtesy of Northwest MLS.

Listings courtesy of Northwest MLS as distributed by MLS GRID. Based on information submitted to the MLS GRID as of 10/6/25 6:27 PM PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. IDX information is provided exclusively for consumers’ personal noncommercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. 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.

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