Marcus & Millichap, a leading commercial real estate brokerage firm, recently closed the sale of Olympic View in Seattle, Washington for $3.55 million. The property is a mixed-use building with nine residential units and three retail suites.
The transaction was facilitated by Jake Morse, Ryan Dinius and Sidney Warsinske from Marcus & Millichap’s Seattle office. They represented the seller, a limited liability company, and secured the buyer – a partnership – for the deal.
Located at 3845 Aurora Ave N in Seattle’s bustling city center, Olympic View boasts nine three-story townhome units with convenient amenities such as in-unit washer and dryer facilities. Most units also feature multiple decks for outdoor living space. Additionally,the property has three retail spaces; two of which are currently leased with an average remaining lease term of 2.75 years.
MMCC successfully secured acquisition financing for the borrower under highly competitive terms through Ray Allen’s efforts.The Dinius-Warsinske Group utilized Marcus & Millichap’s national platform to source buyers from Vancouver,British Columbia who plan to implement value-add strategies by adjusting rents to market rates.
According to Morse,”No transaction is straightforward in today’s market,but due to its prime location near Fremontand downtownSeattle,and its spacious two-bedroom townhomes,Olympic View generated significant interest.”
This successful sale highlights Marcus &Millichap’s expertisein navigating complex transactions within competitive markets while providing top-notch service that exceeds client expectations.
