April 16, 2018
ACME Realty acquired Remi Apartments, an urban apartment community in Seattle for $17.75 million. CBRE’s Capital Markets Multifamily Investment team’s Mark Zoffel and Kyle Yamamoto negotiated the sale on behalf of the undisclosed seller. The buyer was self-represented.
The property was built in 1996, and is comprised of 34 residential homes and three ground-floor commercial spaces. Located at 2727 Eastlake Ave. East, in the thriving Eastlake neighborhood just above the shores of Lake Union, Remi takes advantage of the stunning lake and mountain views that are normally reserved for the private homes lining the waterfront.
The $480,000-per-unit price, excluding the value of the retail, sets a high watermark for the Eastlake neighborhood. The property was 97% occupied and the ground floor retail was fully leased.
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