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GAITHERSBURG, MD-An undisclosed buyer has acquired the apartment building at 439 N. Frederick Ave. in a transaction that was originated just two weeks after the 33-unit property hit the market. The selling price was $3.3 million.

David Weber of Marcus & Millichap Real Estate Investment Brokerage Co. orchestrated the deal on behalf of seller Tenant Properties Ltd., which acquired the building almost exactly three years ago for $1.5 million. According to Montgomery County records, the structure and the one-acre parcel it occupies have a total current assessed value of just over $1.3 million.

Located off I-270 near the Lakeforest Mall and within Rt. 355's commercial development corridor, the garden-style apartment community at 439 N. Frederick was developed in 1959. Considered a class C property, the building's sale, according to Weber, marks the first occurrence here in which a property of that class commanded in excess of $100,000 per-unit.