The Francis, a 22-unit apartment community in Seattle’s Fremont neighborhood, has changed hands in a $7 million transaction. The property, located at 3636 Francis Avenue N., is a multifamily asset that drew interest from investors focused on urban locations with strong renter appeal.
Kidder Mathews’ Simon | Anderson Multifamily Team served as the exclusive intermediary on the sale. Brokers Matt Laird and Jack Shephard represented the seller, Trimark Property Group, and also sourced the buyer, Curtis Capitol Group. The assignment covered both disposition services for the seller and acquisition support for the buyer, reflecting continued brokerage activity in Seattle’s apartment investment market.
Built in 1988, The Francis comprises a mix of studio, one-bedroom, and two-bedroom units. The building’s vintage and configuration provide the new owner with a value-add investment profile, combining in-place improvements with the potential to further enhance operations and revenue over time. Updated building systems already in place are noted as a foundation for future upgrades and repositioning.
For Curtis Capitol Group, the acquisition delivers a value-add opportunity in a neighborhood setting that remains in demand with renters. The property’s location in Fremont, on the north side of the Lake Washington Ship Canal and just a few miles from downtown Seattle, places residents near a concentration of employers along with dining, shopping, and cultural amenities. That combination of urban access and neighborhood character underpins investor interest in similar infill multifamily communities.
Commentary from the brokerage team underscores that this trade reflects sustained investor demand for quality multifamily assets in Seattle’s urban core. According to Laird, properties like The Francis, which are difficult to replicate and located in areas where renters consistently want to live, continue to attract capital even as investors evaluate risk and return across markets.
The sale of The Francis illustrates how investors are targeting well-located, existing apartment communities that offer both current performance and additional upside potential. With updated systems and room for further value-add execution, the asset aligns with strategies seeking to balance stability and growth in established urban neighborhoods.
