Home AEC Rare Capitol Hill Apartments with Development Potential Sells for $4.5M

Rare Capitol Hill Apartments with Development Potential Sells for $4.5M

Capitol Hill, Seattle, Kidder Mathews, Simon and Anderson Team, Bellevue Court, Braseth Construction
Courtesy of Kidder Mathews

Seattle, Wash. (February 1, 2021) – A multifamily property located at 433 Bellevue Avenue East in Seattle’s Capitol Hill neighborhood has sold for $4,500,000. Dylan Simon, Jerrid Anderson, Matt Laird, and Winslow Lee of The Simon and Anderson Team partnered with Meriweather Advisors to bring the property to market. Kidder Mathews was able to source the buyer, Braseth Construction, a family-owned multifamily investment and construction company. 

The 21-unit apartment building built in 1954 was on the market for the first time in over 25 years. Laird shared, “The buyers of Bellevue Court will be excellent stewards of the property, and we are excited to see how they transform it into a trophy Capitol Hill apartment building.” The deal was worth $214,285 per unit and $411 per square foot.

About the Dylan Simon and Jerrid Anderson apartment brokerage team
The apartment brokerage team led by Dylan Simon and Jerrid Anderson of Kidder Mathews represents investors in the sale, purchase, and financing of apartment buildings and development land across the greater Seattle and Puget Sound region. The team of eight brokerage professionals specializes in sale and financing of apartment buildings and development land from $1 million to in excess of $100 million. 

About Kidder Mathews
Kidder Mathews is the largest independently owned commercial real estate firm on the West Coast, with 900 real estate professionals and staff in 21 offices in Washington, Oregon, California, Nevada, and Arizona. Kidder Mathews offers a complete range of brokerage, appraisal, property management, consulting, project & construction management, and debt & equity finance services for all property types. The firm performs $8 billion in transactions, manages over 70 million square feet of space, and conducts over 1,800 appraisals annually.