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Auburn’s Neely Station Apartments Changes Hands for $44.5M
CBRE has brokered the $44.5 million sale of the Neely Station Apartments, a 190-unit multifamily community in Auburn, WA. An undisclosed buyer purchased the property from Goodman Real Estate, Inc.
“Neely Station offered a value-add opportunity with 100% of the units primed for upgrades, while the property’s location is convenient to multiple employment hubs, including Tacoma, Seattle, Bellevue, Kent and Renton,” said CBRE vice chairman Jon Hallgrimson, who represented the seller along with Eli Hanacek, Mark Washington and Kyle Yamamoto.
The garden-style community is located at 1433 8th St. NE and consists of 25 two-story buildings on 9.5 acres. Neely Station has one- two- and three-bedroom floorplans, averaging 850-square-feet in size. Community amenities include a pool and sundeck, fire pits, fitness center and media room. The property is situated 20 minutes from downtown Tacoma and 30 minutes from downtown Seattle.
Photo Courtesy of J. Mark Griffith Photography
- ◦Sale/Acquisition
