Marcus & Millichap Arranges Sale of Seattle Mixed-Use Building

Marcus & Millichap completed the sale of Olympic View, a nine-unit and three-retail suite mixed-use property located in Seattle, Washington, for $3.55 million.

Jake Morse, Ryan Dinius and Sidney Warsinske, investment specialists in Marcus & Millichap’s Seattle office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a partnership, was secured and represented by Morse, Dinius and Warsinske.

Olympic View is located at 3845 Aurora Ave N and comprises nine three-story townhome units, each featuring in-unit washer and dryer amenities, with most units offering multiple decks. Of the three retail spaces, two are currently leased, with an average of 2.75 years remaining on the lease terms. Ray Allen of MMCC successfully secured acquisition financing for the borrower under highly competitive terms. Leveraging Marcus & Millichap’s national platform, the Dinius-Warsinske Group sourced the Buyer from Vancouver, BC. The Buyer plans to implement a value-add strategy and adjust rents to market rates.

“No transaction is straightforward in the current market, but the large two-bedroom townhome units, along with their proximity to Fremont and downtown Seattle, generated considerable interest,” said Morse of the Dinius-Warsinske Group