Home Finance Capitol Hill Apartment Building Trades for $2.05MM

Capitol Hill Apartment Building Trades for $2.05MM

Marcus & Millichap, Seattle, Capitol Hill, Capitol Hill 6
Courtesy of Marcus & Millichap

SEATTLE, WA, April 7, 2021 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Capitol Hill 6, a 6-unit apartment property located in Seattle, WA, according to Joel Andrew Deis, regional manager of the firm’s Seattle office. The asset sold for $2,050,000.

Kellan Moll and Scott Morasch, investment specialists in Marcus & Millichap’s Seattle office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust.   

Capitol Hill 6 is located at 210 23rd Ave E in Seattle, WA.  The property was constructed in 1991 and consists of six two-bedroom one-bathroom units averaging 800 sf with six covered/garage parking spaces on-site. There is also an opportunity to add additional unit(s) on the first floor of the property. The buyer purchased the property for the opportunity to perform interior renovations on the property and significantly raise the rents to market.

About Marcus & Millichap (NYSE: MMI)

With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 9,726 transactions in 2019 with a value of approximately $50 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors.