FIFE, WASH. — Pathfinder Partners has purchased Astoria Apartments, a 125-unit multifamily community located at 5700 23rd St. in Fife, a city in the Seattle-Tacoma metro area, for $18 million.
Built in 1982, the property features 12 two-story residential buildings comprising 68 one-bedroom/one-bath units, 53 two-bedroom/one-bath units and four three-bedroom/two-bath units. Each unit has a private entry, fully equipped kitchen, fireplace and a patio or balcony. On-site amenities include a leasing office, resident clubhouse, fitness center, children’s playground area, outdoor patio seating, dog park, indoor pet wash station and covered parking.
Pathfinder plans to implement an interior renovation program on the un-renovated units, as well as the enhancement of currently renovated units, the addition of washers/dryers to all units and upgrades to the landscape, hardscape and common-area amenities.
Giovanni Napoli and Phil Assouad of Kidder Mathews represented the buyer and undisclosed seller in the transaction.