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January 21, 2010

Queen Anne apartments sold

Photo courtesy of GVA Kidder Mathews [enlarge]
The Edge Apartments sold for $3.8 million.

The Edge Apartments, a 21-unit property at 620 Ward St. on Queen Anne, sold for $3.82 million, according to GVA Kidder Mathews. That is $181,905 per unit, representing a 5.88 percent CAP rate on current income. Marty Leith, Eric Davis and Ron Davis with GVA Kidder Mathews represented the seller, a limited liability company. The California buyer was in a 1031 exchange.




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