126 Lynnwood Units Sell for $34M

126 Lynnwood units sell for $34M

The Station Nine apartments, at 16720 Sixth Ave. W., sold this week for $34 million, according to Snohomish County records.

Rise Properties Trust Affiliate Sells 126-Unit Station Nine Apartments in Lynnwood for $34MM

Station 9, LLC bought the 126-unit Lynnwood complex from a Rise Properties Trust affiliate for roughly $269,841 per unit, betting that unrenovated units and a nearby light rail connection still have room to drive rents higher. A 1980s-era apartment complex a short walk from Snohomish County’s newest light rail station has changed hands for $34 million, adding to a wave of investor interest in Lynnwood properties positioned near the region’s expa…