Fourth Avenue Capital purchased Alder Walk, a stabilized, newly constructed class A multifamily property located in Puyallup, Wash.
Built in 2022, Alder Walk consists of 78 apartment units within three residential buildings and a clubhouse on 5.06 acres of land. The property features one- and two-bedroom floorplans averaging 843 square feet. All units contain washer/dryers, and the property offers garage, carport and surface stalls.
The unit interior finishes align with the newest best-in-class competitors in the local market. Unique features of the property include 10-foot ceilings throughout; en suite bathrooms in all two-bedroom units; walk-in closets; and a robust suite of amenities including a resident clubhouse, on-site leasing office, fitness center, nature trail, playground and outdoor BBQ area. While the property is boutique in scale, it offers residents the benefits of a larger community in an intimate natural setting.
The asset is located within the F
