JLL Capital Markets has arranged the sale of a multifamily community in Woodinville, Washington for about $136.13 million.
Beaumont Apartments, located in Seattle's Eastern Metro Statistical Area and first constructed in 2009, features 344 units and sits on 14.3 acres.
The community contains a mix of one and two-bedroom apartments, as well as studios — all averaging out to 856 square feet in size. The features of the units include under-mount sinks, appliances made out of stainless steel, key-free entry, deep soaker bathtubs, and private balconies. Also, amenities can be found at Beaumont including a pool, a fitness center, a dog park, a co-working lounge, and a terrace.
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The community is within proximity to Downtown Seattle and Lake Washington. Plus, various entertainment and retail venues surround the area.
"Beaumont Apartments represented a unique opportunity to acquire an institutional-quality multifamily asset in one of Seattle's most desirable submarkets," said JLL senior managing director David Young, who helped represent the seller.
"The property's excellent location and strong potential for value-add renovations made it a compelling long-term investment. We are pleased to have successfully brokered this significant $136.125 million transaction in the Eastside market."
For many CRE multifamily operators this year — an influx of supply has been a headwind. While some major metro markets are already hitting their supply peaks, Seattle might have to wait until next year to hit the threshold due to delays, according to a RealPage analysis.
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