Just Sold: Lakewood 56-unit - $4,655,000
Dan Swanson of Kidder Mathews and Donna Marshall of Capstone Real Estate Group represented the seller of the Eastwood Apartments in Lakewood, Washington. Lakewood's rental rates have increased more that 27% in the last five years. The buyer was attracted to the property's turnkey condition and convenient location near Interstate 5, Highway 512, and Joint Base Lewis McChord. The transaction closed at $4,655,000 with a 6.5% cap rate.