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Bellingham Apartment Complex Trades for $23M
Real estate brokerage firm Marcus & Millichap has arranged the $23 million sale of Elwood Edge, a 79-unit apartment community, located at 3815 Elwood Ave., in Bellingham WA. The firm’s Timothy Ufkes and Rich Day represented the seller, a local commercial developer. The buyer, a private investor from Seattle, was also procured by Ufkes and Day.
The newly-constructed Elwood Edge is comprised of studio, one- and two-bedroom units, and features community amenities including a resident lounge, fitness center, central courtyard, and underground parking garage. The units include a full sized washer and dryer and a deck or patio.
The property is situated near Interstate 5, close to numerous retail and dining options as well as several major employers. Western Washington University is only a mile away, and Bellingham is centrally located between Seattle and Vancouver, British Columbia, each less than a 90-minute drive.
- ◦Sale/Acquisition
