An entity of Isola Homes acquired the site in 2013 for $650,000.
A fairly new apartment building at 4400 S.W. Alaska St. has sold for just over $12.5 million, according to King County records.
The seller was 4400 Alaska LLC, an entity of Isola Homes, which acquired the odd-shaped, trapezoidal site in 2013 for $650,000 and built the project. Some small duplexes had been on the site.
The buyer was Madison Investors LP, which is associated with a private investor with a residential address in Newport Beach, California. Public records indicate a loan from JPMorgan Chase Bank.
The five-story 4400 Alaska was completed in 2016. It has 38 units and five parking spaces. Some units have decks.
There is a 10-stall bike room, and a 1,546-square-foot corner retail bay that is leased to Re/Max Junction.
Isola apparently acted as its own general contractor. The team also included NK Architects; Thomas Rengstorf & Assoc., landscape architect; Malsam Tsang, structural engineer; Geotech Consultants, ge-otechnical engineer; and Blueline, civil engineer.
The apartments are a block west of the Alaska Junction retail strip, and near the future light rail station, which is scheduled to open in 2030.
KM says 4400 Alaska has a WalkScore of 94, and a roof deck with 180-degree views of Puget Sound and the Olympics.
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