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8/22/25
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Archstone Redmond Lakeview Apartments, a 166-unit garden-style multifamily community in Redmond, WA traded hands in a $63.25 mil ($381k/unit) transaction. Built in 1987, the property is located at 4250 West Lake Sammamish Pkwy NE, on the Lake Sammamish waterfront.
The property has one- and two-bedroom units with private patios, walk-in closets and a fireplace. It also has direct access to a private dock with 45 income-generating boat slips. Community amenities include a renovated clubhouse, fitness center, canoe parking pet area, upgraded outdoor deck and views of Lake Sammamish.
Archstone is across from the 640-acre Marymoor Park and close to major employers in the tech, gaming, aerospace and healthcare industries. Archstone is also situated between the Redmond Town Center and downtown Bellevue, providing a range of dining, retail and entertainment options.
CBRE’s Eli Hanacek, Mark Washington, Kyle Yamamoto and Natalie Kasper represented the seller, AvalonBay.
“This acquisition represents a rare opportunity to secure a rare generational asset on the waterfront. With limited future development in the area, Archstone’s enduring value is underscored by its irreplaceable positioning and the long-term upside it offers to the buyer,” said Hanacek.
Archstone is one of seven lake-adjacent multifamily properties in the Seattle MSA, and the only one located next to a light rail station. It is also located within one of the top school districts in the state.
Puget Sound multifamily demand outpaced new deliveries in Q2 2025 for the fifth consecutive quarter, according to CBRE. Falling supply is expected to continue through 2025 as construction and borrowing costs remain high. The Redmond/Sammasmish submarket only has 1,199 apartments under construction through 2029, a historic low.
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