Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SEATTLE-A 64-unit, a four-unit apartment complex and a seven-unit apartment building have all been sold this week, two to individual investors and one to a Nevada corporation.

Elliott Pointe Apartments, a 64-unit complex located at 2226 Elliot Ave. Downtown, has fetched $9.38 million. The Seller was Elliott Pointe LP and the Buyer was LSPI Exchange Corporation. The Buyer was represented by Robert Sheppard in the Bellevue office of Marcus & Millichap.

The four-unit complex, which sold for $400,000 is located at 427 NE Ravenna Blvd. The seller was Feleciano Bucsit, and the buyer was Dan Swanson. Both parties were represented by Steve Steadele in the Bellevue office of Marcus & Millichap.

Terrace Apartments, a seven-unit building located at 534 E. Division St. in Arlington, WA, has sold for $500,000. The sellers were Chuck and Joyce Togstad, and the buyer was Bucsit. Steadele again represented both parties in this transaction.

Rents and vacancy rates in the local market are down but still desirable, making apartments a decent investment, according to a Puget Sound apartment report for the first half of 2001.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. APARTMENTS Fall 2021Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.