Listings/Northgate Apartments

Northgate Apartments

Sale Price: $19,000,000

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Sale Summary

The property started as a decommissioned senior housing facility in an emerging market outside of Seattle. It had no income, insufficient parking, and had never been used as market-rate apartments before. However, we crafted a dynamic marketing campaign that attracted a diverse range of investors, hosted open houses, and facilitated a highly competitive bidding process. In the end, we hosted 45 tours, served 4 dozen donuts, and received 19 offers from which to choose the winning bidder. The winning offer provided non-refundable earnest money at contract execution, and remarkably, the contract-to-close process took just 22 days. This achievement underscores our commitment to delivering exceptional results for our clients.

Case Study

Click here to view the case study for this transaction.


Kidder Mathews Sells 121-Unit Northgate Apartment Building for $19M


We hired Dylan, Matt & JD to sell a 120-unit building in Seattle that came with numerous complexities.  Dylan and his team were hands on from the start in identifying the market for our property, providing solutions to some of the problems we encountered, and helping us to identify and address potential buyer concerns. We could have not asked for a better set of experts to help guide us through a difficult sale in a very challenging market environment. I am extremely pleased with their high level of expertise and integrity; I’d highly recommend them, especially in a high-stakes or complicated situation.– Northgate Seller

“Dylan, I have to tell you, I thought you guys would do a good job, but you guys did a stunning job! I just couldn’t be more pleased. It wasn’t just the outcome and the sale price, but honestly, how you guys approached the process, you personally and your team. I was extremely impressed with how you stayed on everything, sifted through everything, and put it all into perspective, but also following up and making sure that everything was being done the way it was supposed to be done. I couldn’t be happier about the transaction, but also about the service level. It was a lot of little things that I think you guys did as much as the outcome. Thank you again, I really appreciate your help.” – Northgate Seller

We purchased a 121-unit apartment building from Dylan, Matt, and JD. From submitting our initial offer to the closing, they were great to work with, responsive and extremely professional. They knew the property well, had clearly taken the time to understand what they were selling, and were very helpful navigating the complex contract and financing process. They made the entire transaction go smoothy, kept us all on schedule, and gave us confidence that we were working with pros!– Northgate Buyer


Property Details

11501 15th Ave NE, Seattle
62,285 SF
515 SF
LR3 (M)

Sale Details

Sale Date
September 26, 2023
Sale Price
Price Per Unit
Price per SF

121-Unit Value-Add Apartment Senior Housing Conversion Opportunity

Renovate Units

Gross potential Rent upon Stabilization $2,550,000

Repurpose Common Areas

Approx. 12,000 square feet associated with senior housing operations

Approx. 30,000 land square feet of potential redevelopment

Seller Financing

Attractive Seller Financing terms available for well-qualified Buyers. Contact Brokers for more information.

88 Classic Units

28 Upgraded Units

5 Renovated Units


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Northgate Apartments

11501 15th Ave NE
Seattle, WA 98125
Units: 121
Price: $19,000,000

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