Do you have an apartment complex to sell in Seattle?

Multi-Family and Apartment Investing
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Do you have an apartment complex to sell in Seattle?

Josh Jacobsen
Commercial Real Estate Broker 路 Minot - Tacoma, ND - WA 路 Member since 2014 路 60 posts 路 21 votes

Hi Friends,  

I have client looking to buy a Seattle/Tacoma area apartment complex to complete a 1031 exchange. Does anybody know of anybody who might have something to sell?

Josh

Josh Jacobsen

Gig Harbor Real Estate

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  • J.M. M.Pro Member
    SC 路 Member since 2014 路 26 posts 路 13 votes
    10y

    Hi Josh,

    How much is s/he looking to invest (range)? Depending on the answer I might have an idea for them to partner on in the Seattle area. 

    Thanks,

    Jim

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  • Jeff HamelPro Member
    Investor/Firefighter 路 Milton, WA 路 Member since 2014 路 45 posts 路 20 votes
    10y

    HI Josh,

    Do you have a little more information to narrow that down?  Price range, condition, number of units? 

    Give me a call or PM me when you have a minute, I may have a couple off market leads I am still working.  What kind of time frame do you have to name the replacement property?

    0Reply
  • Josh Jacobsen
    OP
    Commercial Real Estate Broker 路 Minot - Tacoma, ND - WA 路 Member since 2014 路 60 posts 路 21 votes
    10y
    I don't want to disclose too much and risk my clients privacy; but the bigger the complex the better.
    0Reply
  • Richard Rinehart
    Business Executive, Investor 路 Bellevue, WA 路 Member since 2013 路 54 posts 路 18 votes
    10y

    @Josh Jacobsen  

    There are many apartments available in the Seattle-Tacoma-Everett market area.  Many of them will meet the bigger the better creiteria.  Please private message, email or call me to discuss the opportunities. 

    Richard

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  • Joel OwensBusiness Member
    Moderator
    Real Estate Broker 路 Canton, GA 路 Member since 2010 路 15k+ posts 路 11k+ votes
    10y

    Josh it's all expectations of your client.

    Are they under 1031 exchange pressures or the cash is sitting around?

    I have some clients up there and the apartments are trading at crazy prices like a 5 cap. If your clients want  a high cap up there they will be disappointed for a quality area. That market is just too frothy.  

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  • Josh Jacobsen
    OP
    Commercial Real Estate Broker 路 Minot - Tacoma, ND - WA 路 Member since 2014 路 60 posts 路 21 votes
    10y

    @joel They told me they were under 1031 pressure, but were told by their accountant this morning that they weren't set up properly. 馃槮. So there has been a change of plans for now. Nuts...

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