Seattle’s Green Lake neighborhood has seen another multifamily deal, with the 48-unit Greenlake Terrace Apartments selling for $16.5 million. The 1986-built complex, located at 7415 5th Ave NE, sits just a few blocks from the lake and its popular loop trail.
The buyer, a local family office, picked up the property from Open House Westwood and is expected to continue a value-add renovation program already underway. The building includes garage parking, a bike room, and updated common areas—typical amenities for mid-1980s stock that’s been gradually refreshed.
The sale was brokered by Cushman & Wakefield’s Matt Kemper, Tim McKay, Dan Chhan, Jacob Odegard, Dylan Roeter, and Byron Rosen.
“The combination of location, scale and renovation potential generated strong buyer interest and a highly competitive sale process,” said Kemper in a news release.
