The Seattle Multifamily Investment Sales team at Northmarq, led by Tyler Smith, Steve Fischer and Joe Kinkopf in collaboration with Brendan Greenheck, Taylor Wyman and Matt Johnston, recently closed the sale of Aldercrest Apartments for $13.15 million. The 47-unit multifamily community is located at 303 10th Ave. in Seattle.
Northmarq represented the seller in this transaction while the buyer was identified as 303 10th Ave LLC. According to Smith, this sale demonstrates a resurgence of investor interest in well-located and high-quality properties despite a sluggish market for sales activity. The competitive bidding process attracted both local and out-of-state investors resulting in an excellent outcome for their client.
Aldercrest Apartments offers studio, one-, and two-bedroom floorplans with nine-foot ceilings that provide stunning views of cityscapes and Mt.Rainier from bay windows. Each unit also includes an in-unit washer/dryer for added convenience.
Located on First Hill at the intersection of Tenth Avenue South & Alder Street , these apartments are just blocks away from downtown Seattle as well as Interstate-5 (I-5) making it easily accessible to residents who commute or enjoy exploring different parts of the city.
Additionally,the location boasts close proximity to public transportation options such as bus lines like Route #43,and access to new streetcar services like First Hill Streetcar which connects directly to LINK Light Rail Stations providing easy access throughout Downtown Seattle.The neighborhood also offers various amenities including grocery stores,a post office,a public library,and popular coffee shops/restaurants all within minutes away from Aldercrest Apartments . This prime location makes it an ideal choice for potential tenants looking for convenient living options near major attractions within walking distance or short commutes via public transit routes
