Nestled in downtown Puyallup, The Meridian Castle presents a unique investment opportunity offering year 1 cash flow combined with the benefit of future development potential. This 8-unit multifamily community sits on 6,000 SF of land zoned CBD Core, allowing for a covered land play and significant revenue upside. The property currently operates with below-market rents, utilities billed on only half of the units and no laundry income collected. Currently achieving a 6.31% cap rate, this offering has the potential to reach 7.45% upon operational stabilization. Positioned for both steady cash flow and long-term value appreciation, investors can capitalize on Puyallup’s dynamic market while considering future redevelopment possibilities.