CBRE Arranges $53.2 Million Sale of 186-Unit Multifamily Community in Renton, Washington

CBRE arranged the sale of 2000 Lake Washington, a 186-unit multifamily community in Renton, Wash., to an undisclosed buyer for $53.2 million.

Eli Hanacek, Mark Washington, Kyle Yamamoto and Natalie Kasper with CBRE’s multifamily team in the Pacific Northwest represented the seller, New York Life Real Estate Investors.

“The property’s exceptional location overlooking Lake Washington, proximity to the region’s leading employers and amenities, and recent capital improvements were key factors in attracting strong interest from buyers,” said Mr. Yamamoto, senior vice president, CBRE. “When combined with limited supply, affluent demographics and low vacancy, 2000 Lake Washington is a generational quality asset on the Eastside.”

Located at 1300 N 20th St in Renton, 2000 Lake Washington was built in 1986 and renovated in 2016. The property sits on 9.2 acres with 18 buildings that comprise of one-bedroom and two-bedroom floorplans. The average unit size is 706 sq. ft., with an in-unit washer and dryer and balcony or patio. Community amenities include a fitness center, dog park, business center and clubhouse, outdoor pool and sauna and electric vehicle chargers.

The property is across the street from Lake Washington, the Renton Sailing Center and Gene Coulon Memorial Beach Park. Tenants are minutes away from retail amenities and attractions including The Landing, Topgolf, Henry Moses Aquatic Center and Museum of Flight, as well as immediate access to the expanding Boeing plant.