Home Finance Everett’s The Madrona Apartments Trade for $3.675MM

Everett’s The Madrona Apartments Trade for $3.675MM

Everett, Marcus & Millichap, The Madrona Apartments
Image Courtesy of Marcus & Millichap

EVERETT, WA – Marcus & Millichap a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of The Madrona Apartments, a 29-unit multifamily building in Everett, Washington. The Property sold for $3.675 million, which equates to $126,724 per unit.

“The Madrona Apartments were last marketed in the 1980’s and it’s clear why. This Tudor-style brick veneer building showcases its old-world charm and received a substantial amount of interest with double digit offers. Not to mention the excellent location and Walk Score. We are very happy for the buyer and seller as they both got a great deal.” said Ryan Dinius, First Vice President of Investments at Marcus & Millichap, Inc. Dinius, Sidney Warsinske, Philip Assouad, and Giovanni Napoli represented the seller and procured the buyer for the transaction.

About Marcus & Millichap

With nearly 2000 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 9,472 transactions in 2018 with a value of approximately $46.4 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.