Cambridge Park Apartments Sells for $4,960,000
David Meissner and Peter Larsen of Paragon Real Estate Advisors are pleased to announce the sale of Cambridge Park Apartments in Redmond, Washington. Cambridge Park is a high-quality, well-maintained, 39-unit building, built in 1988, located near Redmond Town Center. The sale closed September 19, 2011 for $4,960,000.00.
The Sellers’ had owned and effectively managed the property for 23 years and were retiring from the apartment business. The out-of-state Buyer purchased the property with the intention of modernizing the units and taking advantage of the strong rental market to increase their yield on investment. Both the Buyer and the Seller were longtime, repeat clients of Paragon Real Estate Advisors.
Paragon specializes in the quality representation of real estate investors and diligently works on their behalf to assist them in reaching their financial goals.