The Boulders Sells for $13.4 Million
From the Seattle Daily Journal of Commerce:
The Boulders at Mountlake apartments, at 4710 212th St. S.W., have sold for $13.4 million. Moran & Company, which sold the property, announced the sale.
Jeff Williams and Tim Brown led the sales team for Moran.
The sellers were multiple LLCs associated with Hamilton Zanze and private investors, which acquired the property in 2009 for $7.2 million.
The buyer was Quartz Creek at 212th MLT LLC, which is associated with Legacy Group Capital of Bellevue.
Developed on 4.38 acres in 1988, the garden apartments are just east of Interstate 5, near Exit 181A.
The average unit size is 859 square feet, according to Moran. There are five two-story buildings with covered and surface parking. The price per unit was $191,786.
Moran marketed the property as a value-add investment.