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January 7, 2016

Auburn apartments sell for $1.5M

Scott Morasch and Kellan Moll of Marcus & Millichap's Seattle office arranged the $1.45 million sale of the 12-unit Bridgie Lane Apartments at 2201 I St. N.E. in Auburn. Marcus & Millichap said in a press release it represented both buyer and seller. This was Morasch and Moll's second Auburn closing in December, and both set local records for price per unit, price per square foot and low cap rate, the press release said. Moll said high prices for core properties are making buyers look at the suburbs, and pushing up prices there.




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