Cushman & Wakefield recently facilitated the sale of Villa Luisa, a charming mixed-use community in Seattle’s popular Ballard neighborhood. The property, which features 16 residential units and four retail spaces on its ground floor, is located at the intersection of NW 60th St and 15th Ave NW.
The transaction was handled by Cushman & Wakefield’s team of experts including Tim McKay, Dan Chhan, Matt Kemper, Jacob Odegard, Dylan Roeter and Byron Rosen. The buyer did not have representation.
According to McKay: “Despite a slowdown in sales for older properties in prime Seattle locations like this one has seen an increase in demand from savvy investors looking for cash-flowing assets with potential for growth.” He also noted that these types of value-add properties are currently available with less competition and higher cap rates than have been seen in many years.
Originally constructed back in 1927,Villa Luisa offers a mix of studio as well as one- and two-bedroom apartments along with four long-standing retail tenants such as Nolita Italian bistro , The Wax Bar , mini-martand an art studio .
