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Seattle & Northwest  + Seattle  + Apartments  |  June 24, 2021
Lisa Brown
By: Lisa Brown

Sherwood Park Sale Breaks Several Records

Even during trying circumstances, the recent sale of Sherwood Park broke several records for multifamily transactions in Fife, WA, including highest price per unit and square foot as well as lowest cap rate ever recorded (according to CoStar Comps, pre-2020 construction). The 52-unit apartment property recently sold for $9.5 million.

Sherwood Park is located at 2380 62nd Ave. E. The sale included 13 fourplexes in a larger 18 fourplex broken condo community. 

The buyer completed a 1031 exchange out of apartments in Seattle and the seller, a limited liability company, also completed a reverse 1031 exchange into a property in Kirkland, WA. 

Kellan Moll and Scott Morasch, investment specialists in Marcus & Millichap’s Seattle office, had the exclusive listing to market the property on behalf of the seller.

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Sherwood Park

About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.
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