Northmarq‘s Seattle Multifamily Investment Sales team led by Tyler Smith, Steve Fischer Joe Kinkopf and successfully completed the $15.2 million sale of Hampton Heights, a 114-unit multifamily housing community located at 5711 S 152nd Street in Tukwila, Washington.
“The buyer recognized this as a rare opportunity to acquire a scaled asset in the heart of the Puget Sound at a basis well below replacement cost,” Smith said. “The property’s unit mix — featuring large, oriented floorplans — supports naturally affordable rents and stands in sharp contrast to the smaller, more expensive layouts typically found in today’s new construction.”
Built in 1976 and renovated in 2001, Hampton Heights is an affordable project under Washington State Housing Finance Commission (WSHFC) Low-Income Housing Tax Credit (LIHTC) program. The building offers one- and two-bedroom floorplans designed to provide a balance of functionality. Units include spacious layouts, all-electric kitchen, balcony or patio, carpeted floors, extra storage and walk-in closets.
Hampton Heights is located near Tukwila Park and Interstates 5 and 405 with easy access to dining, shopping, and entertainment options. It is located roughly 4.5 miles from Seattle-Tacoma International Airport, 12 miles from downtown Seattle, and 23 miles from downtown Tacoma.
Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built a loan servicing portfolio of more than $78 billion and a three-year transaction volume of $69.5 billion.
