SEATTLE, WA, November 29, 2018 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Spring Lake Apartments, a 69-unit apartment property located in the Lake City neighborhood of Seattle, WA, Joel Andrew Deis, regional manager of the firm’s Seattle office. The asset sold for $14,950,000.
Timothy Ufkes and Rich Day of the Ufkes Group in Marcus & Millichap’s Seattle office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust. The buyer, Seattle Housing Authority, was secured and represented by Timothy Ufkes and Rich Day , investment specialists in Marcus & Millichap’s Seattle office.
Spring Lake Apartments is located at 12530 35th Avenue NE, Seattle, WA. The property was constructed in 1986, and consists of studio, one-bedroom and two-bedroom units. The Lake City neighborhood is an ideal location due to the close proximity to downtown and a walk score of 83. The property itself also include amenities such as underground parking, on-site laundry facility, an outside picnic area and more.
About Marcus & Millichap (NYSE: MMI)
With over 1,800 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 over 9,000 transactions in 2017 with a value of approximately $42.2 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. To learn more, please visit:www.MarcusMillichap.com