Tacoma, Wash., September 18, 2020 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, has announced the sale of The McKinley Crossing Apartments, a 30-unit apartment community in Tacoma, Washington. The Property sold for $3.5 million, which equates to $116,667 per unit.
McKinley Crossing is made up of 14 one-bedroom homes and 16 two-bedroom homes featuring newly renovated interiors and private decks or patios off each home. The seller recently completed a $200,000 renovation of the community after purchasing the property in 2018. Sidney Warsinske, First Vice President of Investments at Marcus & Millichap, Inc. represented the previous seller during that transaction as well.
“The seller had completed their initial investment plan at the property and reached out to us again when they were ready to sell. We are very happy for the buyer and seller” said Warsinske. Sidney Warsinske, Ryan Dinius, Philip Assouad, and Giovanni Napoli exclusively represented the seller for the transaction.
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.