Home Industry News 52-Unit Redtown Apartments in Renton Sell for $11,985,000

52-Unit Redtown Apartments in Renton Sell for $11,985,000

Summerfield Commercial, Redtown Apartments, Renton, Avaya at Town Center 52, Lake Union Partners, Pacific Northwest, brokerage and property management

RENTON, WA – Summerfield Commercial is pleased to announce the sale of the Redtown Apartments, a 52 unit community in Renton, WA. Avaya at Town Center 52 LLC purchased the property, which is located at 10436 SE Carr Road, Renton, WA. The seller, who also originally developed the property, was Lake Union Partners. Summerfield Commercial represented the seller and also secured the buyer in this transaction. The brokers involved were Ryan Kidwell and Robert Parmar.

The selling price was $11,985,000 and closed on January 30th, 2018. The sale price equates to $230,480 per unit and approximately $220 per net rentable square foot.

Built in 2012, Redtown Apartments is a mid-rise community offering one, two, and three bedroom flats and two bedroom townhouse units. The building amenities include a leasing office and playground, plus garage and carport parking and storage lockers. Apartment units include an open floor plan, high-end finishes, private laundry and an average size of about 1,050 square feet.

Summerfield Commercial specializes in the brokerage and property management of larger multifamily assets throughout the Pacific Northwest.