Multiple Bidders for Tukwila, WA Property Reinforces Value of Transit-Oriented Location
For the first time since its construction in 1968, the El Matador Apartments at 14828 Military Road South in Tukwila, WA traded hands. James Lee of Lee EL Matador, LLC, a local private investor, purchased the 44-unit apartment community for $7.4 million from Cederlind Real Estate, LLC. The property was listed and marketed by Colliers International’s Joe Levin, who represented the seller.
“El Matador is an excellent example of the value the investment community increasingly places on well-located properties near transit hubs,” noted Levin. “The property drew multiple bidders and sold for over list price, with all prospects appreciating the opportunity presented by its position in a dynamic, yet still affordable area central to Seattle, Bellevue and Tacoma.”
El Matador is just four blocks from the Tukwila Link Light Rail station, a few minutes from I-5, I-405 and Sea-Tac International Airport, and near major Kent Valley employers including Boeing, Costco and Group Health. It is also a short distance from Westfield Southcenter mall, the new Tukwila Justice Center, and Foster Performing Arts Center at Foster High School.
Ted Sipila of Kidder Matthews represented the buyer.
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