Cushman & Wakefield announced the firm has brokered the sale of Nicholas Townhomes, a desirable 28-unit townhome community featuring all two-story 2-bedroom/1.5-bathroom floor plans in Sedro Woolley (Seattle), Washington.
Cushman & Wakefield’s Byron Rosen, Tim McKay, Dan Chhan, Matt Kemper, and Sam Wayne represented the seller, a local investor, in the off-market transaction.
Located at 671 Cook Rd, Nicholas Townhomes is a beautiful residence that is well located and features pleasing layouts with spacious kitchens with an open entertainment style concept with kitchen bar, two spacious bedrooms, full size washer/dryers, ample closets and cabinet space, private patios, and more. The location is near an abundance of outdoor recreation, including within blocks of Bingham Park and Janicki Fields, and just minutes from Avalon Golf Links, Clear Lake, as well as the Northern State Recreation Area for biking, hiking, swimming, fishing, and other outdoor activities.
Additionally, Cushman & Wakefield’s Rosen, McKay, Chhan, Kemper, and Wayne also brokered the recent sale of the newly constructed 6605 Apartments community in the nearby city of Arlington, WA for $7.5 million or $454 per square foot. The sales team represented the seller, a local developer, in the transaction. The buyer, a California based investor, acquired the property as the upleg of its 1031 Exchange.
Built in 2023, the 6605 Apartments is a boutique mixed-use asset featuring 29 residential units with luxurious touches plus 2,755 square feet of commercial/retail space in three bays as resident/public amenities. Additional on-site amenities include a state-of-the-art fitness center, secured key fob entry, storage units, ample on-site parking, and air-conditioned common areas. The property was pre-stabilized at 66% occupied at the time of sale.
“The sales of these two quality assets in Q4 in the vibrant Snohomish and Skagit counties reflects the increasing residential investor demand—across a variety of product—in the dynamic, growing northern Puget Sound market combined with its strategic location, connectivity, and surrounding environmental appeal. Many neighborhoods in this northern region continue to offer investors seeking long-term growth with great opportunity to capitalize on their strong current and anticipated multifamily fundamentals,” said Associate Byron Rosen.
“According to Cushman & Wakefield’s tracking, the sale of 6605 Apartments for $454 per square foot (psf) also set a record price per square foot for the city of Arlington,” added Rosen.
