Home Commercial King County Purchases Extended Stay America in Renton for $28.6MM

King County Purchases Extended Stay America in Renton for $28.6MM

Renton, Seattle, King County, Extended Stay America, Homewood Suites by Seattle-Tacoma Airport, Hampton Inn Seattle/Southcenter, Sonesta Simply Suites Seattle Renton, Inn at Queen Ann

By Catherine Sweeney

Looking to provide additional housing for its homeless population, King County recently acquired a 67,842-square-foot hotel in Renton. According to King County public records, the Extended Stay America Seattle-Renton was sold by its namesake company for $28.6 million, or approximately $260,000 per room. 

The extended stay hotel, located at 1150 Oakesdale Ave., sits on 169,276 square feet of land in Renton. The three-story extended-stay hotel was built in 1988, and while operating, offered 110 suite-style rooms at weekly or monthly rates. 

The hotel is located near Interstate-405, 11 miles from downtown Seattle. It is nearby many other hotel properties, including Homewood Suites by Seattle-Tacoma Airport, Hampton Inn Seattle/Southcenter, Sonesta Simply Suites Seattle Renton and Hotel Interurban, among others. It is also near several other buildings owned by King County, including King County South Treatment Plant and the King County Elections building. 

In October of 2020, the King County Council passed the “Health Through Housing” proposal, an initiative aimed at supporting those in King County who are experiencing homelessness.Through the initiative, King County made plans to purchase hotel properties to be used to house its homeless population. According to official estimates at the time, approximately 4,500 people in the county were deemed chronically homeless. 

On June 1, King County purchased its first hotel property, the Inn at Queen Ann, for $16.5 million. The sale of the suite-style hotel, at 505 1st Avenue N. was initially announced in May.