Marcus & Millichap Inc.
06/23/2026 | Press release | Distributed by Public on 06/24/2026 10:14
Marcus & Millichap Arranges $3 Million Sale of Charlemagne Apartments in Seattle, Washington
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Marcus & Millichap Arranges $3 Million Sale of Charlemagne Apartments in Seattle, Washington
June 23, 2026
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SEATTLE, June 23, 2026 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Charlemagne Apartments, a 14-unit multifamily property for $3 million.
"With Beacon Hill's proximity to major employment centers and its relative affordability compared to Seattle's urban core, we believe the neighborhood is well positioned for continued demand," said Kellan Moll, managing director investments. "As new apartment construction slows and vacancy rates decline, we expect to see modest but sustainable rent growth in the years ahead."
Moll and Scott Morasch, investment specialists in Marcus & Millichap's Seattle office, exclusively marketed the property on behalf of the seller, Vilaire Apartments LLC. The buyer, Montlake Realty LLC, was represented by Northmarq.
Charlemagne Apartments is located at 1300 14th Ave S. in Seattle's Beacon Hill neighborhood and totals 8,010 rentable square feet. Built in 1964, the property has been renovated over time and features updated building systems uncommon for assets of its vintage. The apartment community generates strong in-place cash flow and offers additional value-add opportunities through the completion of remaining unit renovations, rent adjustments to market levels and the potential addition of two to three units within the existing basement space. The property is approximately 10 minutes from Seattle's central business district.
"With Beacon Hill's proximity to major employment centers and its relative affordability compared to Seattle's urban core, we believe the neighborhood is well positioned for continued demand," said Kellan Moll, managing director investments. "As new apartment construction slows and vacancy rates decline, we expect to see modest but sustainable rent growth in the years ahead."
Moll and Scott Morasch, investment specialists in Marcus & Millichap's Seattle office, exclusively marketed the property on behalf of the seller, Vilaire Apartments LLC. The buyer, Montlake Realty LLC, was represented by Northmarq.
Charlemagne Apartments is located at 1300 14th Ave S. in Seattle's Beacon Hill neighborhood and totals 8,010 rentable square feet. Built in 1964, the property has been renovated over time and features updated building systems uncommon for assets of its vintage. The apartment community generates strong in-place cash flow and offers additional value-add opportunities through the completion of remaining unit renovations, rent adjustments to market levels and the potential addition of two to three units within the existing basement space. The property is approximately 10 minutes from Seattle's central business district.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit https://www.MarcusMillichap.com.
Marcus & Millichap Inc. published this content on June 23, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on June 24, 2026 at 16:15 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]