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Redtown Apartments – Click Here for More Information2018-05-14T20:28:26+00:00

Project Description

Renton, Washington

Redtown Apartments is a 52 unit multifamily complex built in 2012 in the lively and rapidly growing city of Renton, Washington. The unit mix features one, two, and three bedroom flats and two bedroom townhomes with an average unit size nearly 1,050 square feet. Each unit features high ceilings, a full compliment of energy efficient and stainless steel appliances, vinyl plank flooring, and a private balcony or patio. Common area amenities include a barbecue grill with a picnic area and playground and leasing center. The property also offers carports and garage parking as well as storage units. A wide greenbelt separates most of the units from Carr Road and creates a tranquil setting.

Redtown is well located within Renton and just blocks from both SR-515 and SR-167, with easy access to I-405 and I-5. Tenants enjoy many dining, shopping, banking, entertainment options all within walking distance including Fred Meyer and CVS Pharmacy. Valley Medical Center is less than a mile to the west. Redtown is well positioned to continue to take advantage of the current growth cycle. There is ample upside through stabilizing rents at market levels.

Transaction Details

CLOSING PRICE

$11,985,000

CAP RATE

4.5%

BUYER

Ezralow Company

SELLER

Lake Union Partners

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