L5 Investments Buys Suburban Seattle Property for $15M

L5 Investments has acquired Montrose Apartment Community for $15.4 million. The 97-unit property is at 220 S. 152nd Street in Burien, Wash., a suburb of Seattle in south King County. Originally built in 1963, the community is on nearly three acres and includes seven three-story buildings. The unit mix includes one-, two- and three-bedroom units that range from 728 square feet to 1,130 square feet. Common amenities include a fitness center, pool and playground. All units contain fully equipped kitchens, appliances and private patios/balconies, and some of the units include vaulted ceilings and fireplaces.