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December 07, 2016

120 units in Renton sold for $30.2M

Seattle Daily Journal of Commerce

RENTON - King County records show the sale of the Altitude Apartments for $30.185 million. The seller was Eagle Ridge Villa LLC, associated with developer Chris Koruga.

The buyer was FSC Vista Pointe/Altitude Associates LP, associated with FSC Realty of Beverly Hills.

Located at 1620 Benson Rd. S., the 2.8-acre property has two four-story buildings with 120 units. Four of those units are live/work spaces.

The complex has a mix of covered and surface parking. All units are one- and two-bedrooms.

It was completed last year, and is south of downtown Renton and west of the SR 405/Highway 167 interchange.

Kidder Mathews' Ryan Dinius, Giovanni Napoli and Philip Assouad represented both the buyer and the seller.

KM said it is fully leased. The transaction was worth about $251,500 per unit.

© 2016 Seattle Daily Journal of Commerce. All rights reserved.

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