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West Seattle Apartment Building Sells For $18.8M

West Seattle Apartment Building Sells For $18.8M
Willowcrest in West Seattle

The Willowcrest apartment building in West Seattle recently sold for $18.8M.

Located at 2425 SW Webster St., the three-story 57K SF apartment building has 75 units that are one- and two-bedroom and average 780 SF. All units have wood-burning fireplaces, washers and dryers and a private patio or balcony.

The building is one block off Delridge Way SW and minutes from downtown Seattle, Renton and Sea-Tac International Airport.

International Property Advisors’ senior managing director Phillip Assouad, Giovanni Napoli, Ryan Dinius and Sidney Warsinske represented the seller, Investco, and procured the buyer, Raymond Capital Advisors.

Raymond Capital Advisors also purchased Sunset Station Apartments near SeaTac for $13.9M in February. IPA is a division of Marcus & Millichap.

West Seattle multifamily buildings are becoming more desirable as affordable alternatives to skyrocketing apartment prices in Seattle’s downtown core. Legacy Partners recently broke ground on the nearby Legacy at Fauntleroy Apartments. Also in the neighborhood, the 38-unit Lofts at the Junction Apartments changed hands in 2018 for $9.5M.