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Northmarq has completed the $15.2 million sale of Hampton Heights, a 114-unit multifamily housing community located at 5711 S 152nd Street in Tukwila, Washington.
The transaction was brokered by Northmarq’s Seattle Multifamily Investment Sales team, led by Tyler Smith, Steve Fischer, and Joe Kinkopf. “The buyer recognized this as a rare opportunity to acquire a scaled asset in the heart of the Puget Sound at a basis well below replacement cost,” said Smith. “The property’s unit mix — featuring large, family-oriented floorplans — supports naturally affordable rents and stands in sharp contrast to the smaller, more expensive layouts typically found in today’s new construction.”
Originally built in 1976 and renovated in 2001, Hampton Heights operates under the Washington State Housing Finance Commission’s Low-Income Housing Tax Credit (LIHTC) program, offering affordable housing options. The property is conveniently located near Tukwila Park and major thoroughfares including Interstates 5 and 405, providing residents with easy access to dining, shopping, and entertainment. Hampton Heights is also in proximity to Seattle-Tacoma International Airport and just 12 miles south of downtown Seattle.
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