September 18, 2020
Monticello, a historic apartment community in Longview, WA, traded hands for $8.2 million. The property at 1405 17th Ave. includes 68 residential units and ground floor retail. The sales price translates to $120,882-per-unit.
Originally built in 1923, the property is a staple in the Longview community and one of the longest standing structures since the city was founded by R A Long in the early 1900’s. Formerly a landmark hotel with 200 rooms, the Monticello operates today as an apartment asset with ground floor retail, private function spaces, and a grand ballroom fit for weddings and large private gatherings.
The unnamed sellers recently completed a multi-million-dollar renovation with revamped ground floor retail spaces and common areas.
Marcus & Millichap’s Ryan Dinius, Sidney Warsinske, Philip Assouad and Giovanni Napoli exclusively represented the seller, while Marcus & Millichap’s George Miller procured the undisclosed buyer.
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*Photo by Joe Mabel