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The Residences at 518 in Kirkland recently sold to Goodwin DC LLC for $3.39M, or $339K/unit. The 10-unit apartment complex is at 518 Second St. in Kirkland.
The property is in an area known for stable tenants with four local parks, a public swimming pool and dozens of restaurants. Google, Tableau and Wave Broadband are less than a mile away. A bus stop has direct service to downtown Bellevue and Microsoft’s campus.
“The multifamily investment market is strong across the Puget Sound region, with the Eastside an increasing focus of interest given the expansion of a number of large technology and e-commerce companies in the area,” Colliers International investment expert Tim McKay said in a statement. “The Residences at 518 drew a lot of attention from buyers looking to leverage both economics, its strategic location and the continuing affluence of Kirkland itself.”
Colliers International’s multifamily investment experts McKay, Dan Chhan and Sam Wayne arranged the transaction. Greenwood Pub LLC was the seller.
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