Blaine Manor apartment building under new ownership

The Blaine Manor apartment complex was recently sold to new owners, who purchased the property for approximately $2.6 million dollars.

Located at 210 B Street, the apartment complex was previously owned by Ness Management through Blaine Manor, LLC, a Washington limited liability company. According to county records, the new owners are sisters Tanya and Sherry Anne Boboricken.

The selling price was $2,615,000 which resulted in excise tax payable of $46,547. The state share of excise tax is 1.28 percent of the selling price, or $33,472. The local share of excise tax is half of one percent of the selling price, or $13,075.

A representative of the former owner attributed the sale to favorable market conditions. “There really wasn’t a reason other than it was a good time to sell,” said Christine Hayes, director of operations for Ness Management.

Ness Management owned the property for over two years. County records show that Blaine Manor, LLC purchased the property in December 2016 for $1.5 million. In that time, Ness Management was able to improve both the condition and the management of the apartment units. This included updating the flooring and appliances, as well as retaining a property manager who was located in the area.

“Previously the building was managed out of Yakima, I believe, but we brought in someone local, which helped with tenant issues being handled much quicker,” said Hayes.

Ness Management also brought the rents up to the market rate. Previously the property was an “HUD property,” said Hayes, meaning that rents had been subsidized by the U.S. Department of Housing and Urban Development.

The seller was represented by Seattle-based Westlake Associates. The buyers were represented by John Angier of Keller Williams Western Realty.

According to Angier, the Boborickens recently owned a similar property in Colorado, and wanted to replace it with one on the west coast, closer to where they both live. They had specific investment criteria and this property met their needs exactly.

Angier said they plan on making further improvements to the property. This includes restoring a common area with new carpeting, paint and furniture. “They want the tenants to have a place where they can hang out and gather because it’s a pretty tight-knit community of folks who live there,” he said.

In addition, the units will continue to be updated whenever there is turnover, including upgrades to paint, lighting and appliances. There may also be some exterior projects such as sidewalk repairs, and the name of the complex might even change in the future.

The Blaine Manor property consists of 26 units, all of which are one bedroom, one bathroom. According to Angier, it was a wise investment, given the high demand for such units. “There’s minimal vacancy,” he said. “I think they have a waiting list to get in.”