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October 12, 2015

Lancaster Apts Sell for $8.2M - 31 Units in Capitol Hill Changes Hands

CoStar Group

Dean Buenaventura

A private investor purchased the 31-unit Lancaster Apartments at 704 E. Thomas St. in Seattle, WA from a group of local owners for almost $8.25 million, or about $266,000 per unit.

Built in 1924, the 28,300-square-foot multifamily property is situated on 8,235 square feet of land in the Capitol Hill neighborhood. The asset consists of 15 one-bedroom and 16 two-bedroom units that were fully occupied at the time of sale.

Curran Hagstrom and Collin Hagstrom of Westlake Associates, Inc. represented the buyer in the all-cash sale. Dan Swanson of Kidder Mathews represented the sellers.

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