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SOLD! | 500 East Union Apartment Building

15 UNITS ON CAPITOL HILL




3/27/23​ (Seattle, WA) – Lee & Associates Commercial Real Estate Services is pleased to have brokered the Sale of 500 East Union located in ​Seattle WA​ to ​HDG LP​, on behalf of their client 500 E Union LLC


The ​15 unit apartment Complex​, located ​at the corner of E Union St and Summit Ave​, transacted at ​$3,400,000.00​. ​Acquired in 2018 for $2,150,000 within the AGM portfolio of properties.​ Significant property upgrades were completed to both the common and individual units as the tenants’ leases expired.


​​“Covid slowed our plans a little, but this is a well-located project on Capitol Hill, and once we completed our acquisition plans it was time to sell”​, noted ​Troy Gessel​, ​Principal​.


The monies were redeployed into two different assets, a Maltby mobile Home Park and Retail center within the Spring District of Bellevue.


The Lee & Associates team of ​Troy Gessel and Jim Reed​ facilitated the transaction.


ABOUT LEE & ASSOCIATES


Lee & Associates offers an array of real estate services tailored to meet the needs of the company’s clients, including commercial real estate brokerage, integrated services, and construction services. Established in 1979, Lee & Associates is now an international firm with offices throughout the United States and Canada. Our professionals regularly collaborate to make sure they are providing their clients with the most advanced, up-to-date market technology and information. For the latest news from Lee & Associates, visit lee-associates.com or follow us on Facebook, LinkedIn, Twitter and Link, our company blog.


Email: troy@agmrealestate.com Phone: 425.301.4422

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