10-Unit Enumclaw Apartments Sells for $1.2M in Off-Market Deal

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A 10-unit multifamily property located at 2233 Roosevelt Avenue in Enumclaw, Washington, has sold for $1,200,000 in an off-market sale structured by Kidder Mathews. The buyer was Roosevelt Avenue Apartments, LLC. Brandon Lawler, Dylan Simon, and Jerrid Anderson of The Simon Anderson Team, a multifamily investment team at Kidder Mathews, represented the buyer in the transaction. No other brokers were involved in the transaction.

Originally built in 1967, 2233 Roosevelt Avenue is a wood frame constructed apartment building located in the City of Enumclaw, Washington. The property has not traded hands from the ownership family since it was built, and it provided a heavy value-add opportunity for the buyer.

The Simon and Anderson Team sourced 2233 Roosevelt Avenue off-market and represented the buyer, an active investor in the region currently expanding their portfolio across suburban King County. The sale went under contract in October, but both parties had to wait for a January close due to a challenging title issue.

“We continue to remain bullish on the South Puget Sound apartment market and opportunities for apartment investors throughout the market. We saw a 17 percent year-over-year increase in price per square foot in South King County this past year, and I expect strong growth to continue,” said Lawler.

About the Dylan Simon and Jerrid Anderson apartment brokerage team
The apartment brokerage team led by Dylan Simon and Jerrid Anderson of Kidder Mathews represents investors in the sale, purchase, and financing of apartment buildings and development land across the greater Seattle and Puget Sound region. The team of seven brokerage professionals specializes in sales and financings of apartment buildings and development land from $1 million to in excess of $100 million.  For more information, visit dylansimon.com.

About Kidder Mathews
Kidder Mathews is the largest independently owned commercial real estate firm on the West Coast, with 900 real estate professionals and staff in 21 offices in Washington, Oregon, California, Nevada, and Arizona. Kidder Mathews offers a complete range of brokerage, appraisal, property management, consulting, project & construction management, and debt & equity finance services for all property types. The firm performs $8 billion in transactions, manages over 70 million square feet of space, and conducts over 1,800 appraisals annually. For more information, visit kidder.com.

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