Elliott Pointe Apartments, a 64-unit complex located at 2226 Elliot Ave. Downtown, has fetched $9.38 million. The Seller was Elliott Pointe LP and the Buyer was LSPI Exchange Corporation. The Buyer was represented by Robert Sheppard in the Bellevue office of Marcus & Millichap.
The four-unit complex, which sold for $400,000 is located at 427 NE Ravenna Blvd. The seller was Feleciano Bucsit, and the buyer was Dan Swanson. Both parties were represented by Steve Steadele in the Bellevue office of Marcus & Millichap.
Terrace Apartments, a seven-unit building located at 534 E. Division St. in Arlington, WA, has sold for $500,000. The sellers were Chuck and Joyce Togstad, and the buyer was Bucsit. Steadele again represented both parties in this transaction.
Rents and vacancy rates in the local market are down but still desirable, making apartments a decent investment, according to a Puget Sound apartment report for the first half of 2001.
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