Pierce County apartment site sells for $10.5M, double what it went for in 2021
AI-generated summary reviewed by our newsroom.
- Park East and West sold for $10.5 million to Felix Valdez LLC on Oct. 30, 2025.
- The last recorded sale at the site was in March 2021 for just under $5 million.
- The adjacent properties total 51 partially renovated units; Berkadia led the deal.
An apartment site in University Place consisting of adjacent properties recently sold to a California entity for more than double the price it last commanded in 2021.
Park East and West, 6407-6425 53rd Avenue Ct W., sold for $10.5 million in a sale recorded Oct. 30.
County records show that the seller was an LLC affiliated with CBRE of Bellevue while the buyer was listed as Felix Valdez LLC of Redondo, Beach, California. The LLC shares the same address as Archer Investment & Consulting, a commercial real estate entity.
According to Berkadia Seattle, who was involved in the sale, the properties include 51 partially renovated units, 19 units averaging over 800 square feet in Park East, and 32 units averaging 725 square feet in Park West.
Berkadia Seattle managing director Jay Timpani and senior director Chad Blenz led the transaction.
The two adjacent properties total 51 partially renovated units—19 units averaging over 800 square feet in Park East and 32 units averaging 725 square feet in Park West.
The site dates back to 1985, and last sold in March 2021 for just under $5 million.
