Montlake Realty LLC Acquires 14-Unit Multifamily Property From Vilaire Apartments LLC For $3M

The asset involved in this transaction is a multifamily property known as Charlemagne Apartments, located at 1300 14th Avenue South in Seattle, WA. The property includes 14 residential units and was sold for $3,000,000, resulting in a price per unit of $214,286. It is noted that the property generates strong cash flow and has potential for increasing rent as well as the opportunity to add up to three new units in the basement.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $3,000,000
• Address: 1300 14th Avenue South
• Market: Seattle, WA
• Units: 14
• Price Per Unit: $214,286
• Buyer: Montlake Realty LLC
• Seller: Vilaire Apartments LLC
• Brokers: Kellan Moll & Scott Morasch - Marcus & Millichap

This transaction was brokered by Marcus & Millichap, involving Kellan Moll and Scott Morasch representing the seller, Vilaire Apartments LLC, and the buyer Montlake Realty LLC. The deal reflects the robust demand for multifamily properties in Seattle.