Marcus & Millichap closed the sale of Villa Maria, an 11-unit apartment property located in Seattle, The asset sold for $2,115,000.
The buyer, a limited liability company, was secured and represented by Jake Morse, Ryan Dinius, and Sidney Warsinske, investment specialists in Marcus & Millichap’s Seattle office. “The seller’s loan was called, putting them in a position where they needed to sell, and our client, the buyer, was able to perform and close the transaction,” said Morse. “The listing was on the market for 12 months; our client was able to acquire the property at an attractive basis and add efficiencies of scale in a neighborhood they already own in.”
Villa Maria is located at 1146 N 91st St in Seattle. Built in 1986, the property was extensively renovated in 2010 and features a washer/dryer in the unit, with 100% occupancy.
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