Source: Hamilton Zanze
MOUNTLAKE TERRACE, WA - San Francisco-based real estate investment firm Hamilton Zanze announced the sale of Maple Glen Apartments in the desirable Lynnwood/Edmonds/Mukilteo submarket of Seattle, Washington. The firm purchased the property in 2015.
During their ownership, Hamilton Zanze completed numerous exterior and landscaping improvements, and renovated units with new lighting, windows, hardware, and balcony repairs to improve leasing efforts and quality of life at the community.
"We are elated with our business plan execution with Maple Glen and the outcome for our investors. Since acquisition, we were able to renovate units and implement expense saving measures and improve this community alongside the growth in Mountlake Terrace," said Anthony Ly, director of dispositions at Hamilton Zanze. "The early delivery of the nearby light rail expansion will certainly make the property a very desirable location for a long time to come."
The Maple Glen Apartments were built in 1986 and is located at 5424 212th Street SW in Mountlake Terrace. The property comprises 106 one- and two-bedroom units averaging 794 square feet. The community features a fully renovated clubhouse with fitness center, lounge, swimming pool, sauna, and spa.
Maple Glen Apartments is in the Lynnwood/Edmonds/Mukilteo submarket of the Seattle metro area. The community is centrally located near Interstate 5, Interstate 405, and the Seattle-Tacoma International Airport, which provides nonstop flights to domestic and international destinations. The property is in proximity to large employers including Amazon, Naval Station Everett, and Boeing. Seattle's economy benefits from stable employment growth in mid- and high-paying sectors and is home to eight Fortune 500 companies.