Home Finance 154-Unit Willow Springs Apartments in Puyallup Sells for $33.8MM

154-Unit Willow Springs Apartments in Puyallup Sells for $33.8MM

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By Jack Stubbs

There’s no shortage of activity in the residential real estate market in the Puget Sound, and another apartment complex recently changed hands.

On Wednesday, January 31st, the 154-unit Willow Springs Apartments in Puyallup sold for $33.8 million, according to public records filed with Pierce County. The buyer was Gordon Tang, an individual based in Bellevue. The seller was Zanner LLC, an entity affiliated with James Zanner based in Puyallup.

Located at 608 39th Ave. SW., the three-story Willow Springs Apartments was built in 1996 and contains 154 units, according to the property listing on apartments.com. The property includes one- two- and three-bedroom units. The one-bedroom units are 804 square feet and rent for $1,269, while the two-bedroom units range from 979 to 1,098 square feet and rent for between $1,410 and $1,560. The largest units are 1,315 square feet and rent for $1,765.

Some of the in-unit amenities include patio/balcony, washer/dryer and a fireplace, and the property also offers various community amenities including on-site property management, fitness center, spa and playground.

The property is approximately three miles to the south of Puyallup and roughly 12 miles to the south of Tacoma. The asset is also about four miles from access to Washington State Route 167 and about six miles from Washington State Route 7 to the west.

Additionally, Willow Springs sits within two miles of several other apartment communities in Puyallup including the 162-unit Aspen Creek Apartment Homes and the 225-unit Glenbrooke Apartments, a complex built in 1999.