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Marcus & Millichap Finds New Owner for Everett’s Madrona Apartments

Marcus & Millichap handled the sale of The Madrona Apartments, a 29-unit multifamily building in Everett, WA. The 1920’s-era property is located in the historic Bayside neighborhood at 2632 Rucker Ave. and sold for $3.675 million, which equates to $126,724 per unit.

“The Madrona Apartments were last marketed in the 1980’s and it’s clear why,” says Marcus & Millichap’s Ryan Dinius. “This Tudor-style brick veneer building showcases its old-world charm and received a substantial amount of interest with double digit offers. Not to mention the excellent location and Walk Score.”

Dinius, Sidney Warsinske, Philip Assouad, and Giovanni Napoli represented the seller and procured the buyer for the transaction.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.