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The El Matador Apartments in Tukwila recently sold for $7.4M. Local investor James Lee purchased the 44-unit complex from Cederlind Real Estate.
The property was listed by Colliers International’s Joe Levin, who represented the seller. Kidder Mathews’ Ted Siplia represented the buyer.
The sale is the first time the property located at 14828 Military Road South in Tukwila has changed hands since it was built in 1968.
The apartment building is four blocks from the Tukwila Light Rail Station and near Sea-Tac, Interstate 405 and Kent Valley’s industrial area.
Multiple real estate transactions have taken place in and around the Kent Valley, of which Tukwila is a part, including the sale of the RedHill Pines apartment complex, which sold for $34.5M in October.
Levin said in a statement that El Matador sold for above listing price and is a good example of how properties near transit hubs are becoming valuable investment options.
Kent is planning a people-friendly infrastructure that will soften its current industrial ambiance. The city has 65,000 jobs, and the Kent Valley region is home to 255,000.
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