A two-building multifamily portfolio in the West Seattle Junction area has traded for $111 million.
The mixed-use properties include the 136-unit Mural at 4727 42nd Ave. SW and the 200-unit Link at 4550 38th Ave SW. The seller is an entity affiliated with Los Angeles-based American Realty Advisors, reported the Puget Sound Business Journal. The buyer is Virtu Investments of Carlsbad, California. The price the properties averages out to over $330,350 per unit.
The Mural and Link were developed by Seattle-based Harbor Properties and opened in 2009 and 2011, respectively. The retail spaces at both properties are fully leased. The Mural has 5,000 square feet of commercial space and the Link has 13,000 square feet. The Mural’s retail tenants include Portage Bay Cafe, Season’s Salon & Spa and Just Poke, and the Link’s include West of Chicago Pizza and Bright Horizons at West Seattle.
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