916 40th Avenue SW, Puyallup, WA 98373 (MLS # 2539983)
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Listing provided courtesy of Northwest MLS; Northwest Premier Brokers
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Rare investment opportunity in Puyallup's desirable South Hill. This well-maintained duplex with long term tenants has never been vacant during the sellers ownership. It offers stable income today with a clear path to increased returns. Both units include large fully fenced yards with decks, attached 1-car garages and additional driveway parking. The property has enjoyed exceptional occupancy with long-term tenants. Current rents are slightly below market, providing a value-add opportunity for the next owner. Existing leases have less than six months remaining, allowing a defined timeline for potential rent increases and improved cash flow to the already existing solid amount. New countertops are currently being installed throughout both units and are not reflected in the current photos. Tenants enjoy a single-family-home feel with the large fenced backyards, contributing to strong retention and consistent rental demand. Conveniently located near SR-512, shopping, dining, parks and schools. As an added investment opportunity, the purchaser of this duplex will be given the first rights to purchase the seller's adjacent duplex, creating the potential to expand ownership to four units in one prime location. Whether you're completing a 1031 exchange, expanding an existing portfolio, or just entering the multifamily market, this property offers great stability, future income and equity growth potential and a unique opportunity with a proven and reliable rental property.
| LAST UPDATED | 6/16/2026 | TRACT | South Hill |
|---|---|---|---|
| YEAR BUILT | 1992 | COMMUNITY | South Hill |
| GARAGE SPACES | 2.0 | COUNTY | Pierce |
| STATUS | Active | PROPERTY TYPE(S) | Multi Family |
| Elementary School | Edward Zeiger Elem |
|---|---|
| Jr. High School | Ballou Jnr High |
| High School | Gov John Rogers Hs |
| ADDITIONAL DETAILS | |
| AIR | None |
|---|---|
| AREA | 87 - Puyallup |
| CONSTRUCTION | Wood Siding |
| GARAGE | Yes |
| HEAT | Forced Air, Natural Gas |
| LOT | 0.3113 acre(s) |
| LOT DESCRIPTION | Corner Lot |
| MLS STATUS | Active |
| SEWER | Septic Tank |
| STORIES | 1 |
| STYLE | 52 - Duplex |
| SUBDIVISION | South Hill |
| TAXES | 5820.84 |
| WATER | Public |
TOTAL MONTHLY PAYMENT
| SATELLITE VIEW |
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Properties with the 
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 6/16/26 1:42 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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