JBP WA, LLC Acquires 16-Unit Multifamily Property In Fife For $2.425M Represented By Marcus & Millichap

A multifamily property, known as Fife Village Apartments, located at 2102 62nd Avenue East in Fife, Washington, was sold for $2,425,000. The asset encompasses 1.09 acres and consists of 16 units, with a total square footage of 13,200, resulting in a price per square foot of $184.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $2,425,000
• Address: 2102 62nd Avenue East
• Market: Fife, WA
• Acres: 1.09
• Units: 16
• Sale Price Per Square Foot: $184
• Buyer: JBP WA, LLC
• Seller: Fife Village, LLC
• Brokers: Scott Morasch & Kellan Moll - Marcus & Millichap

The transaction was facilitated by Marcus & Millichap, which represented both the seller, Fife Village, LLC, and the buyer, JBP WA, LLC. Following the sale, the buyer intends to renovate the property and retain it as a long-term investment. The property drew considerable interest, receiving 14 offers and selling for over 15% above its asking price.