Home Finance Everett’s Parc on 12th Apartment Complex Sells for $19.1MM

Everett’s Parc on 12th Apartment Complex Sells for $19.1MM

Parc on 12th, Everett, Chris Rosenstock, CES Properties, Avaya at Town Center, Oak Terrace Apartments, Avana West Hill, Greystar

By Meghan Hall

An apartment complex in the growing suburb of Everett has traded hands. In a deal that closed just last week, the Parc on 12th Apartments sold for $19.1 million, or about $176,852 per unit, according to public records. The property was sold by CES Properties, an entity affiliated with Cascadian Associates LLC in Bellevue, Wash. The buyer is a Colorado-based investor associated with ALS Cascadian Owner LLC and Chris Rosenstock.

Parc at 12th is located at 2232 12th St.  and includes 108 apartment units. One-bedroom units are around 640 square feet in size, while two-bedroom units can range between 800 to 1,000 square feet. Rents start at around $1,200 per month. 

Apartments are equipped with faux wood flooring, in-unit washer and dryers, updated kitchens with shaker style cabinets and balconies. Community amenities include a fitness center, courtyard and playground, picnic area, and resident lounge.

“A robust setting and friendly staff welcome you home. We love your furry friends too! Enjoy our convenient location, resident lounge and so much more!” the property’s website states.

The property is mostly surrounded by single-family development but is not far from Providence Medical Center, the Everett Clinic and Seattle Children’s. Naval Station Everett, as well as Everett Community College, are also within a short drive.

In recent weeks, a number of multifamily sales have occurred throughout the market. In Renton, the Avaya at Town Center Apartments sold for $13 million, or around $250,000 per unit. In Lakewood, the Oak Terrace Apartments traded for $10.5 million. In a larger transaction at the end of May, Greystar purchased Avana West Hill, located in Kent. Greystar paid $57.25 million, or $265,000 per unit, for the complex.