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Northmarq Completes $13M Sale of First Hill Apartments
Northmarq’s Seattle Multifamily Investment Sales team, led by Tyler Smith, Steve Fischer and Joe Kinkopf in collaboration with Brendan Greenheck, Taylor Wyman and Matt Johnston, successfully brokered the $13.15 million sale of Aldercrest Apartments, a 47-unit multifamily community located at 303 10th Ave. in Seattle.
Northmarq represented the seller in the transaction. The buyer was 303 10th Ave LLC. “The sale of the Aldercrest Apartments was a signal of returning investor demand for well-located, high-quality assets,” Smith said. “Despite a soft sales market, this offering attracted both local and out of state investors, fielding a competitive bid, creating a great outcome for our client.”
Aldercrest Apartments feature studio, one- and two-bedroom floorplans as well as lofty nine-foot ceilings, bay window views of cityscapes and Mt. Rainier, and in-unit washer/dryers. Located at 10th and Alder on Seattle’s First Hill, Aldercrest Apartments are conveniently located just blocks from downtown Seattle, Interstate 5 and Seattle University. It boasts close proximity to the 43 bus line, the new First Hill Streetcar with easy access to LINK Light Rail Stations, and it is minutes away from the Seattle Waterfront, grocery stores, a post office, public library, local coffee shops and restaurants.
