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.
Kidder Mathews‘ Giovanni Napoli, Philip Assouad and Ryan Dinius represented the seller. The purchasing LP, led by an experienced California real estate executive, apparently had no representation.
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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