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2/16/24
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A local family investment entity acquired Stratford Square Apartments, a 32-unit multifamily property in Burien, WA, for $7.285 mil ($227.7k/unit). The property is located at 12707-12733 13th Lane SW, immediately off SW 128th St, roughly 10 miles south of Seattle.
Stratford Square Apartments comprises three three-story garden style buildings, each containing eight 2-bedroom/1.5-bathroom units of 1k sf in size, and four duplexes with 2-bedroom/1.5-bathroom townhome style units. Those units boast a parking garage as well.
The complex was originally built in 1988. Key features include covered and uncovered on-site parking, in-unit washer/dryer, dishwasher, and fireplaces and balconies in most units.
The property is walkable to retail amenities and near several parks. It is also convenient to the SR 509 and SR 518 highway interchange (linking to I-5 and I-405 freeways) and is within minutes of the Seattle-Tacoma International Airport.
Cushman & Wakefield’s Jacob Odegard, Dan Chhan, Tim McKay, Dylan Roeter, and Matt Kemper represented the buyer in the transaction. The seller, Stratford Square LLC, was represented by Jon Breiner and Nick Hemming of Paragon Real Estate Advisors.
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