Seattle Social Housing Developer Acquires 150-Unit MultiFamily Property In Seattle For $60.9M

The property involved in this transaction is located at 2134 Western Avenue, Seattle, WA. This multi-family asset comprises 150 residential units and was sold for a total price of $60,900,000, resulting in a price per unit of $406,000.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $60,900,000
• Buyer: Seattle Social Housing Developer
• Seller: Johnson Development Associates
• Units: 150
• PPU: $406,000
• Sale Date: 06/22/2026
• Market: Seattle, WA

Seattle Social Housing Developer acquired its first property, the Elara at the Market, after being formed three years prior. This acquisition is aimed at enhancing affordable housing options, supported by a tax on high earners at companies with salaries exceeding $1 million.