Marcus & Millichap Arranges the Sale of a 136-Unit Apartment Building
KENT, WA, September 27, 2021 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of The Blvd, a 136-unit apartment property located in Kent, WA, according to Joel Deis, regional manager of the firm’s Seattle office. The asset sold for $28,188,000.
The seller was represented by George Miller, an investment specialist in Marcus & Millichap’s Seattle office.
The Blvd is located at 2136 S 272nd St in Kent, WA. Built in 1986, the property is improved with six wood frame constructed buildings with pitched roofs and composition shingles. The community is situated on 7.05 acres of land and encompasses a net rentable area of 106,850 square feet. The BLVD offers 15 studio units measuring 450 square feet each, 69 one-bedroom units spanning 650 square feet each, and 52 two-bedroom units ranging from 900 to 1,150 square feet, with an overall average unit size of 786 square feet.
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About Marcus & Millichap (NYSE: MMI)
With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 8,954 transactions in 2020 with a value of approximately $43 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.