100 White Center units sell for $19M

Seattle Daily Journal of Commerce

Posted In — News & Press | In the News

SEATTLE – The Avenues Apartments, at 10758 16th Ave. S.W., have sold for almost $19.2 million, according to King County records.

The seller was Avenues LLC, which apparently developed the property 1989.

The buyer was Ridgecrest Timbers Apartments LLC, which is associated with an investor group in San Jose, California, led by Paul Lin.

Philip Assouad and Giovanni Napoli of Kidder Mathews brokered the deal, which was worth almost $192,000 per unit.

Developed on four acres in 1989, the 10 two-story buildings have 100 units and 150 parking spaces. The complex is south of White Center Library, west of Lakewood Park.

Two years ago, the 56-unit Northgate Manor sold to a Lin investor group for $10.5 million.

For the full story, go to Seattle Daily Journal of Commerce.

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