**Apartment Investor Adds Scale in Seattle Neighborhood with Villa Maria Acquisition**
Marcus & Millichap has announced the sale of Villa Maria, an 11-unit apartment complex located in Seattle, for $2,115,000.
The buyer, a limited liability company, was represented by Marcus & Millichap investment specialists Jake Morse, Ryan Dinius, and Sidney Warsinske from the firm’s Seattle office. According to Morse, “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. 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 Street in Seattle. Originally built in 1986, the property underwent extensive renovations in 2010. The building features in-unit washers and dryers and is currently operating at 100% occupancy.
This acquisition highlights a strategic move by the buyer to strengthen their presence and operational efficiency within an existing Seattle portfolio.
