Northmarq Brokers Sale of Seattle U District Multifamily – Connect CRE

Northmarq’s Seattle Multifamily Investment Sales team of Taylor Wyman, Casey Zejdlik and Matt Johnson completed the sale of Mark Twain Apartments, a 12-unit multifamily property. Northmarq represented the seller, MT Apartments LLC and Valley Professional Center LLC. The buyer, Baldwin Sea LLC, acquired the property for $3.4 million with a 4.35% cap rate.

“This transaction highlights our firm and team’s commitment to our client’s success. Amid the volatile capital markets, we secured an all-cash, non-contingent offer from a local buyer in a 1031 exchange,” said Wyman. “The outcome was ideal for all parties involved as it allowed our clients to relieve themselves of management responsibilities at an attractive price and aligned with the buyer’s existing multifamily portfolio in the area.”

The Mark Twain Apartments offer one-bedroom apartment homes in the University District. Built in 1959, the property is located at 4714 NE 22nd Avenue, within a 15-minute walk of the University of Washington.