By Jack Stubbs
On Friday, January 17th, three apartment properties in Seattle sold for a combined $28.4 million as part of three separate transactions, according to public records filed with King County. The buyer of the three properties—1812 12th Partners LLC, 422 11th Partners LLC and 2371 Franklin Partners LLC—all share the same Seattle address. The seller of the three properties was La Serena Holdings Inc., a business management consultant based in Snohomish County, Washington.
La Serena Holdings is located in Snohomish, Washington and primarily operates in the real estate consultant industry within the Engineering, Accounting, Research, and Management Services sector, according to the company’s profile on buzzfile.com.
The seller did not respond to calls for comment about the transactions in time for the publishing of this story.
The first property was the Footprint Cal Park Apartments, which sold for $14.5 million, or roughly $185,897 per unit. Footprint Cal Park, located at 1806 & 1812 12th Ave. E. in Seattle’s Eastlake neighborhood, is a five-story, 78-unit property built in 2014, according to the property listing on apartments.com. Some of the amenities available at Footprint include laundry room, ground floor patios, courtyards and roof deck.
The web site for the property emphasizes its prominent setting close to Seattle’s vibrant Capitol Hill neighborhood. “You’ll be in the middle of everything the vibrant Capitol Hill neighborhood has to offer. Eateries, pubs, parks, campus and everything in between are just steps from your home,” the web site states. The location of the property, which has a walk score of 97 and a transit score of 84, is also near the Capitol Hill Light Rail Station.
The second property—which sold for $9.2 million, or about $306,666 per unit–was the Footprint 11th Apartments, which is a five-story, 30-unit asset also built in 2014 and located at 422 11th Ave. E. The property is near the bustling Pike/Pine corridor in Capitol Hill and a short walk to Volunteer Park and Cal Anderson Park.
The third property included in the transaction was the 35-unit Footprint Franklin Apartments located at 2371 Franklin Ave. E., which sold for $4.7 million. The location of the property, built in 2014, is one of its main assets, according to its web site. “Nestled into Seattle’s quaint Eastlake neighborhood along the shores of Lake Union, Footprint Franklin provides quick access to South Lake Union, downtown, the University of Washington, and much more. The common rooftop deck offers amazing views of downtown, Lake Union, and the best seat in the city.”