JUST SOLD: Magnolia Pointe

SEATTLE, WA - On March 16, 2020, Pilot Ventures was pleased to announce the sale of Magnolia Pointe, located at 3630 22nd Ave West, Seattle, WA. Magnolia Pointe is a visually intriguing, 21-unit apartment building constructed in 1990. It’s located on the eastern corner of Magnolia, allowing ease of access to main arterials and just over five-minute drive to Expedia’s new HQ. All units have been fully renovated with stone surfaces, new cabinets, LVT flooring, new millwork, etc. This turn-key property is positioned well for a long-term investment.

Pilot's principals, Casey Zejdlik and Jason Kono, represented the Seller in this transaction and assisted the out-of-state Buyer with an in-house Property Management solution. The property closed at $6,822,000 which was $325k per unit and $504 per net rentable square foot.

Pilot Ventures is a full-service multifamily real estate investment company located in Seattle, Washington founded by Casey Zejdlik and Jason Kono, two multifamily veterans with a combined 29 years of industry experience. Pilot Ventures specializes in working with investors who can benefit from the advantages of 1031 exchanges by providing brokerage, syndication, and property management services.

To connect with us about 1031 exchange planning, acquisition opportunities, a valuation of your property, or to discuss selling an asset please email or call us at 206.566.6599.