Listings/Pacific Place Apartments

Pacific Place Apartments

Sale Price: $2,825,000

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Download the Pacific Place Apartments Case Study at the link below:

Sale Summary

Pacific Place in Magnolia presented a challenge as our client desired an extremely quick closing by year-end after bringing the property to the market on November 18, 2020. The ownership group, with an extensive out-of-state portfolio, had limited knowledge about Pacific Place as it was their only Seattle apartment. To expedite the process, we conducted tours for 5 consecutive days before the Thanksgiving break, targeting financially capable groups who could close by year-end. Leveraging the assistance of the current property management group and our team’s expertise in the Magnolia submarket, we efficiently compiled the marketing materials. As a result, we identified a buyer within 10 days of marketing, and they conducted a rapid due diligence period, leading to a closing in just 27 days. Multiple interior unit walks with property management and the buyer instilled confidence in the property, ultimately facilitating the successful closing. The sale details include a sales price of $2.825 million, $201,000 per unit, $291 per net square foot, and a market-to-closing timeline of 37 days.

Property Details

4235-4239 27th Ave W
City, State
Seattle, WA
Year Built
Rentable SF
9,000 SF
Parcel No.
277060-6675 & 277060-6671
Site Area
11,000 SF
LR2 (M)

Sale Details

Sale date
December 23, 2020
sale price
price per unit
Price per sf


Rare Location

  • Sought-After Magnolia Neighborhood
  • Two Apartment Sales in Magnolia in the Past Year
  • 128K Avg Household Income


Value Add Opportunity

  • Ability to Increase Rents 33% with Interior Renovations
  • Utility Billback, Parking, and Laundry Income
  • Potential Future Development Opportunity


Ideal Location

  • Direct Access to Queen Anne, Ballard, Fremont & Interbay
  • Only True Seattle Suburb
  • Close to New Expedia Corporate Headquarters

Rare Location

Value Add Opportunity

Ideal Location


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Pacific Place Apartments

4235-4239 27th Ave W
Seattle, WA 98199
Units: 14
Price: $2,825,000

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