By Kate Snyder
Lynnwood continues to be a place of steady sales activity. One recent transaction in the city’s Martha Lake district was the sale of Martha Lake Mobile Manor for $18.3 million, or approximately $138,762 per unit, according to public records. The seller was an entity affiliated with Martha Lake Associates, LLC, which is linked to John Dexter, and the buyer was 415 Martha Lake Villa MHC, LLC, which is linked to GSC Investments, a real estate investor and operator of manufactured housing communities.
The 132-unit property is located at 415 Lakeview Road, and features recreational facilities, a clubhouse and homes with peaked roofs and/or lap siding, according to MHVillage, Inc., an online marketplace for manufactured and mobile homes.
Nearby are the Martha Lake Airport Park Off-Leash Dog Park as well as Martha Lake and Martha Lake Park, according to Google Maps. Businesses in the area include the Town & Country Market Mill Creek, Azul Restaurant & Lounge and Safeway.
Several sales have been recorded in Martha Lake in recent months. Earlier this year, several townhomes were sold for $35.2 million to an entity affiliated with Martha Lake Properties LLC, which is linked to Eric Carlson of Bellevue, according to The Registry’s previous reporting. The seller in that transaction was Martha Lake Townhomes LLC, an entity affiliated with Eleanor Freeman, Chester West and Jeffrey Freeman of West Freeman Properties.
Another residential sale near Martha Lake was the 63-unit apartment complex, Meadows at Martha Lake Apartments, which was sold by First Northwest Development for $22.2 million, or about $352,380 per unit. That property was sold to 16130 Magnolia LLC, a private entity associated with Ajit Sukesan.
Lynnwood overall has seen a significant amount of recent sales activity. Earlier this month, Sterling Realty Organization sold the Alderwood Business Campus for $27.1 million, or approximately $195 per square foot. The buyer in the transaction was listed as an entity affiliated with Rosen Harbottle Commercial Real Estate. The Alderwood Business Campus is located at 19101-19221 36th Ave. W on nearly seven acres. The six-building, 138,665 square foot property is near I-5 and I-405.
