Kent, WA – MJW Investments has acquired Arden Park Apartments – a 36-unit multifamily community located at 23817 108th Ave SE, in Kent, WA. This is MJW’s fourth acquisition in the greater Seattle market.

The property – which has received only minor improvements over the last several years – features a mix of large two- and three-bedroom floorplans, with units offering an in-unit washer/dryer, fireplace, storage, and private patio. The property is located approximately one-mile south of Kentwood, a 95-unit community which was acquired by MJW Investments earlier this year.

“The Kent market continues to perform well as renters are increasingly being priced out of the urban core, or facing the prospect of living in smaller units at significantly higher rents than those that can be found in markets outside of the core” said Mark Weinstein, the company’s Founder and President. “The asset and residents will benefit from near-term improvements to the property,” added Michael DiSimone, MJW’s Director of Acquisitions. “Going forward, we expect the Kent submarket to continue performing well and are enthusiastic about offering a quality rental product and high level of customer service to our tenants.”

The property’s location benefits residents due to its proximity to several nearby employment hubs, Kent Station, and numerous local amenities.

 

 

Nick Hemming from Paragon Real Estate Advisors represented MJW Investments in the transaction. Jared Goetz from Tecton will be overseeing operations and the renovation of the property for MJW.

We are looking to expand our local apartment and nationwide student housing portfolio. Please contact Mark Weinstein, Founder and President, at 310.395.3430 x217/mweinstein@mjwinvestments.com or Michael DiSimone, Director of Acquisitions, at 310.395.3430 x211/mdisimone@mjwinvestments.com for acquisition opportunities.