The property, located at 23347 Cedar Way in Mountlake Terrace, was originally built in 1990 as condominiums but ended up doing duty as apartments instead. According to Bosl, apartment complexes often contain a high percentage of one-bedrooms, whereas the Markland Woods consists of two- to four-bedroom units. This, says Bosl, makes the property more in line with use as condominiums. "The property has a lot of amenities not typically found in apartments," says Bosl, "like walk-in laundry rooms and cathedral ceilings."

While the prices the county will ask for the units is not yet known, they will certainly be well below the average price for single-family homes there. According to the Northwest Multiple Listing Service, that median price in July was $200,500.

As for the seller, why now? "Because they had another out-of-state opportunity they wanted to roll the money into," says Bosl. Just where that money is rolling was not immediately available. Bosl tells GlobeSt.com that Interland purchased the complex about two years ago in a like-kind exchange. According to records of First American Title Company, Interland acquired the Markland Woods in June 1999 for $16.311 million. Assuming normal costs of sale, this appears to have been a break-even proposition for Interland.