By Jack Stubbs
Last week, Wynstone Townhomes, a 64-unit residential complex built in 2015, was sold for $15,236,500, or around $238,000 per unit, according to public records filed with Pierce County. The buyer was Kaz Enterprises, Inc., based in San Diego, CA, a company that specializes in both residential and commercial real estate acquisitions and investments. The seller was Milestone at Wynnstone LLC, an entity based in Puyallup, WA. The deal closed on August 30th.
The townhouse complex, located at 12104 – 12108 55th Ave in Puyallup, a town approximately 35 miles south of Seattle. It lies 24 miles to the southwest of the Sea-Tac and 10 miles southeast of Tacoma. The complex is less than a ten-minute drive from access to State Route 512.
The three-story property consists of two- and three-bedroom units, both with 2.5 baths. The two-bedroom units total 1,200 square feet, while the three-bedroom units are 1,470 square feet, according to apartments.com, a website for the property. With this square footage comes walk-in closets and linen closets in all of the units.
Apartments.com also states that some of the amenities allow prominent access to the outdoors, with both the two- and three-bedroom units including a balcony and deck. For fitness and recreation, there is a playground and basketball court, as well as a pet play area. The units offer fully-stocked kitchens as well, featuring granite countertops as well as various culinary amenities.
While based in southern California, Kaz Enterprises Inc. operates nationally, acquiring and managing high-quality real estate properties, according to the company’s LinkedIn page. The firm works with investors to invest in a wide range of commercial and residential assets, from single-family homes to multi-housing apartment complexes to retail investment properties.