SEATTLE — The Bugge Apartments, at 6402 Phinney Ave. N., have sold for $4.1 million, according to King County records. The seller was Bridger Development Co., which had owned the property for decades.
The buyer was Bugge Apartments LLC, which is associated with Walls Property Management. Public records indicate a loan from Alaska USA Federal Credit Union.
Travis Andrews and Eric Smith of Paragon Real Estate Advisors represented the seller. The Bugge had been on the market for about five months. The deal was worth about $273,183 per unit. Paragon says the Bugge has a cap rate of about 3 percent.