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6/08/26
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In a notable multifamily sale in Washington, Waterford Apartments, a 200-unit apartment community in Everett, traded for $53.3 mil, or $266.5k/unit. We’re told that the transaction is the highest price paid for a multifamily community in Everett since May 2023 .
Waterford, at 2020 Lake Heights Drive, is located near the shore of Silver Lake in Northern Washington, about 25 miles north of Downtown Seattle. Constructed in 1989, the property features an abundance of resort-style amenities including indoor and outdoor pools, sauna and spa, a dog park and fitness center. Waterford’s units were most recently renovated in 2014.
Newmark Multifamily Executive Managing Director Marty Leith represented the undisclosed seller, and Managing Director Alec Newman arranged financing for the transaction.
According to Real Capital Analytics data, the Puget Sound’s multifamily market has seen relatively stable investment activity in recent quarters, yet Waterford is a standout property in both performance and investor interest. Sales dollar volume in Everett over the past twelve months, at $154.7 mil, is about 15.5% of the $1 bil yearly high seen over the past five years. Leith has arranged the sale of Waterford three times since 2011, most recently in 2016.
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