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Colliers Facilitates $1.6M Acquisition of West Seattle Apartment Building

7325 47th Ave

First-Time Investor Acquires Value-Add Property in Hot Neighborhood

SEATTLE, Wash. – February 14th, 2022 – Colliers has successfully facilitated the acquisition of a 5,538 SF apartment building located at 7325 47th Avenue SW in West Seattle. Colliers multifamily experts Tim McKay, Dan Chhan, Sam Wayne, Matt Kemper and Adam Groberman represented the buyer in the transaction, which closed today for $1,622,000.

 

The sale of 7325 47th Avenue SW underscores the trend of private capital looking to place equity in well-located multifamily assets during a period of high inflation and rent growth.

The property is located in a desirable West Seattle neighborhood, and includes five, two-bedroom units with good potential to add value through interior and amenity upgrades.

 

“7325 SW 47th Avenue SW is a really great opportunity for our client, who came to us for help with the acquisition of their first investment property,” said Groberman. “We were able to help them identify the opportunity, and guide them through the transaction negotiations.  Plus, the property’s quality positioning for a value-add strategy makes for a promising future for this investment.”

 

7325 47th Avenue SW is located just north of West Seattle’s Lincoln Park, and is within walking distance of Morgan Junction, a popular retail hub featuring multiple dining and entertainment options.

 

Media Contact:

Solana Tanabe

Allison+Partners for Puget Sound

Solana.tanabe@allisonpr.com

 

About Colliers

Colliers is a leading diversified professional services and investment management company. With operations in 65 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. For more than 26 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. With annualized revenues of $3.6 billion ($4.0 billion including affiliates) and $46 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.