{"id":3482,"date":"2020-11-18T10:10:56","date_gmt":"2020-11-18T18:10:56","guid":{"rendered":"https:\/\/www.lee-associates.com\/northwest\/?p=3482"},"modified":"2026-07-07T13:48:57","modified_gmt":"2026-07-07T20:48:57","slug":"case-study-halladay-apartments","status":"publish","type":"post","link":"https:\/\/www.lee-associates.com\/northwest\/2020\/11\/18\/case-study-halladay-apartments\/","title":{"rendered":"Case Study &#8211; Halladay Apartments"},"content":{"rendered":"<div id=\"pl-3482\"  class=\"panel-layout\" ><div id=\"pg-3482-0\"  class=\"panel-grid panel-has-style\" ><div class=\"siteorigin-panels-stretch panel-row-style panel-row-style-for-3482-0\" data-stretch-type=\"full\" ><div class=\"so-panels-full-wrapper\" ><div id=\"pgc-3482-0-0\"  class=\"panel-grid-cell\" ><div id=\"panel-3482-0-0-0\" class=\"so-panel widget widget_sow-image panel-first-child panel-last-child\" data-index=\"0\" ><div\n\t\t\t\n\t\t\tclass=\"so-widget-sow-image so-widget-sow-image-default-113ccd71f3e6-3482\"\n\t\t\t\n\t\t>\n<div class=\"sow-image-container\">\n\t\t<img \n\tsrc=\"https:\/\/www.lee-associates.com\/northwest\/wp-content\/uploads\/sites\/74\/2021\/06\/Halladay-1024x582.jpg\" width=\"1024\" height=\"582\" srcset=\"https:\/\/www.lee-associates.com\/northwest\/wp-content\/uploads\/sites\/74\/2021\/06\/Halladay-1024x582.jpg 1024w, https:\/\/www.lee-associates.com\/northwest\/wp-content\/uploads\/sites\/74\/2021\/06\/Halladay-300x170.jpg 300w, https:\/\/www.lee-associates.com\/northwest\/wp-content\/uploads\/sites\/74\/2021\/06\/Halladay-768x436.jpg 768w, https:\/\/www.lee-associates.com\/northwest\/wp-content\/uploads\/sites\/74\/2021\/06\/Halladay.jpg 1500w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" alt=\"Halladay Apartments - 2214 W Halladay Street\" \t\tclass=\"so-widget-image\"\/>\n\t<\/div>\n\n<\/div><\/div><\/div><\/div><\/div><\/div><div id=\"pg-3482-1\"  class=\"panel-grid panel-no-style\" ><div id=\"pgc-3482-1-0\"  class=\"panel-grid-cell panel-grid-cell-empty\" ><\/div><div id=\"pgc-3482-1-1\"  class=\"panel-grid-cell\" ><div id=\"panel-3482-1-1-0\" class=\"so-panel widget widget_sow-editor panel-first-child\" data-index=\"1\" ><div class=\"panel-widget-style panel-widget-style-for-3482-1-1-0\" ><div\n\t\t\t\n\t\t\tclass=\"so-widget-sow-editor so-widget-sow-editor-base\"\n\t\t\t\n\t\t>\n<div class=\"siteorigin-widget-tinymce textwidget\">\n\t<h3><strong><span style=\"color: #009ad9\">Key Deal Points<\/span><\/strong><\/h3>\n<ul style=\"list-style-type: square\">\n<li>2214 W Halladay St, Seattle WA 98199<\/li>\n<li>Luxury 4-unit apartment complex\u00a0with penthouse<\/li>\n<li>No negotiation after mutual acceptance<\/li>\n<li>All Cash buyer<\/li>\n<\/ul>\n<\/div>\n<\/div><\/div><\/div><div id=\"panel-3482-1-1-1\" class=\"so-panel widget widget_sow-editor panel-last-child\" data-index=\"2\" ><div class=\"panel-widget-style panel-widget-style-for-3482-1-1-1\" ><div\n\t\t\t\n\t\t\tclass=\"so-widget-sow-editor so-widget-sow-editor-base\"\n\t\t\t\n\t\t>\n<div class=\"siteorigin-widget-tinymce textwidget\">\n\t<p><i>\u201cI hired Candice Chevaillier to sell my high-end fourplex.\u00a0 She had sold it to me years before and during my ownership I significantly upgraded the property.<\/i><\/p>\n<p><i>As an interior designer <\/i><i>with a <\/i><i>discerning eye, I wanted to ensure that my property was shown in the very best light.\u00a0 Candice welcomed my choosing of the architectural photographer and having a hand in staging the penthouse unit.\u00a0 Knowing that the building might appeal to a<\/i><i> residential buyer who might choose to live in the property, s<\/i><i>he also brought in a top Magnolia residential agent to ensure that we not only garnered interest from the real estate investment community but also the luxury residential market. <\/i><\/p>\n<p><i>Our market timing, releasing just at the beginning of the pandemic turned out to be an interesting time, but undeterred, Candice worked hard to identify an appropriate buyer.\u00a0 Once we came to terms and went into contract, there were no surprises and despite the strange time, the building closed on time and for a good price.\u00a0 I would not hesitate to hire Candice again. \u201c<\/i><\/p>\n<p><i>- E<\/i><i>J Armstrong, Client<\/i><\/p>\n<\/div>\n<\/div><\/div><\/div><\/div><div id=\"pgc-3482-1-2\"  class=\"panel-grid-cell panel-grid-cell-mobile-last\" ><div id=\"panel-3482-1-2-0\" class=\"so-panel widget widget_sow-editor panel-first-child\" data-index=\"3\" ><div\n\t\t\t\n\t\t\tclass=\"so-widget-sow-editor so-widget-sow-editor-base\"\n\t\t\t\n\t\t>\n<div class=\"siteorigin-widget-tinymce textwidget\">\n\t<h2><strong>The Challenge<\/strong><\/h2>\n<p>The owner of this apartment building had purchased the property from Candice Chevaillier 12 years prior.\u00a0 During her ownership, she upgraded the building to owner occupy the gracious penthouse unit and for a time, rented out the lower units as AirBnb short term rentals.\u00a0 The Seller since moved and was looking shift out of the role of active property management; she wanted to simplify.\u00a0 When the marketing began, two of the four units were vacant.\u00a0 The plan had always been to release the building to market in the Spring of 2020, and as dynamics of the coronavirus began to worsen, it became clear that the market was getting worse and not better, with eviction bans and rent increase freezes being enacted at the City and State level.<\/p>\n<\/div>\n<\/div><\/div><div id=\"panel-3482-1-2-1\" class=\"so-panel widget widget_sow-editor\" data-index=\"4\" ><div\n\t\t\t\n\t\t\tclass=\"so-widget-sow-editor so-widget-sow-editor-base\"\n\t\t\t\n\t\t>\n<div class=\"siteorigin-widget-tinymce textwidget\">\n\t<h2><strong>Our Approach<\/strong><\/h2>\n<p>Our team designed a marketing strategy that targeted both the existing universe of real estate investors and also capture potential owner-occupied buyers, offering a rare opportunity to purchase a stunning penthouse unit with income coming in from the lower three units.\u00a0 The team was to target a buyer who would look beyond the market headwinds and recognize the quality of the asset.\u00a0 It was thoughtfully staged and beautifully photographed to appeal to a sophisticated purchaser with refined taste. We co-brokered with a residential agent to ensure we left no stone unturned with regard to the source of potential buyers. Because the building was clearly in excellent condition, we expected strong and immediate interest in it from the market, even with the strange landscape.\u00a0 This proved to be correct.<\/p>\n<p>An impressive number of buyers indicated interest. Ultimately, it was the investment community that responded with the strongest buyer \u2013 one that had not been active for 10 years and had to sell another apartment building to complete the sale as part of a 1031 exchange.\u00a0 Our team created a thoughtful counter proposal to the offer that eliminated price negotiation, rendered Earnest Money non-refundable, and outlined a feasible timeline for the buyer to perform.<\/p>\n<\/div>\n<\/div><\/div><div id=\"panel-3482-1-2-2\" class=\"so-panel widget widget_sow-editor\" data-index=\"5\" ><div\n\t\t\t\n\t\t\tclass=\"so-widget-sow-editor so-widget-sow-editor-base\"\n\t\t\t\n\t\t>\n<div class=\"siteorigin-widget-tinymce textwidget\">\n\t<h2><strong>The Outcome<\/strong><\/h2>\n<p>Orchestrating terms and timelines that aligned the needs of all parties resulted in a successful on-time closing, a successful exchange for the buyer and a seller who got a strong price and was also relieved of the ongoing responsibility of being a landlord, her original objective.<\/p>\n<\/div>\n<\/div><\/div><div id=\"panel-3482-1-2-3\" class=\"so-panel widget widget_sow-editor panel-last-child\" data-index=\"6\" ><div class=\"panel-widget-style panel-widget-style-for-3482-1-2-3\" ><div\n\t\t\t\n\t\t\tclass=\"so-widget-sow-editor so-widget-sow-editor-base\"\n\t\t\t\n\t\t>\n<div class=\"siteorigin-widget-tinymce textwidget\">\n\t<p><em>For more information regarding this case study, please contact:<\/em><\/p>\n<table style=\"width: 100%;border-collapse: collapse\" border=\"0\">\n<tbody>\n<tr>\n<td style=\"width: 50%\"><span style=\"color: #009ad9\"><strong>Candice Chevaillier, CCIM<\/strong><\/span><\/p>\n<p>Principal<strong><br \/>\nD\u00a0 <\/strong>(206) 773-2694<br \/>\ncchevaillier@lee-associates.com<\/p>\n<\/td>\n<td style=\"width: 50%\"><span style=\"color: #009ad9\"><strong>Daniel Lim<\/strong><\/span><\/p>\n<p>Senior Associate<br \/>\n<strong>D<\/strong>\u00a0 (206) 773-2692<br \/>\ndlim@lee-associates.com<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<\/div>\n<\/div><\/div><\/div><\/div><div id=\"pgc-3482-1-3\"  class=\"panel-grid-cell panel-grid-cell-empty\" ><\/div><\/div><div id=\"pg-3482-2\"  class=\"panel-grid panel-has-style\" ><div class=\"siteorigin-panels-stretch panel-row-style panel-row-style-for-3482-2\" id=\"blog\" data-stretch-type=\"full\" ><div class=\"so-panels-full-wrapper\" ><div id=\"pgc-3482-2-0\"  class=\"panel-grid-cell\" ><div id=\"panel-3482-2-0-0\" class=\"so-panel widget widget_sow-headline panel-first-child\" data-index=\"7\" ><div class=\"panel-widget-style panel-widget-style-for-3482-2-0-0\" ><div\n\t\t\t\n\t\t\tclass=\"so-widget-sow-headline so-widget-sow-headline-default-f8d8efd972d8-3482 so-widget-fittext-wrapper\"\n\t\t\t data-fit-text-compressor=\"0\"\n\t\t><div class=\"sow-headline-container \">\n\t\t\t\t\t\t\t<h4 class=\"sow-headline\">\n\t\t\t\t\t\t<b>NEW<\/b> FROM THE MEDIA 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left;\">\n\t\t<div class=\"sow-carousel-thumbnail\">\n\t\t\t\t\t\t\t<a\n\t\t\t\t\thref=\"https:\/\/www.lee-associates.com\/northwest\/2026\/09\/16\/q2-2026-multifamily-market-report\/\"\n\t\t\t\t\t\t\t\t\t\tstyle=\"background-image: url( https:\/\/www.lee-associates.com\/northwest\/wp-content\/uploads\/sites\/74\/2026\/09\/Multifamily-Market-Report-Featured-Image-272x182.png )\"\n\t\t\t\t\taria-labelledby=\"sow-carousel-id-9305\"\n\t\t\t\t\ttabindex=\"-1\"\n\t\t\t\t>\n\t\t\t\t\t<span class=\"overlay\"><\/span>\n\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t<h3 class=\"sow-carousel-item-title\">\n\t\t\t<a\n\t\t\t\thref=\"https:\/\/www.lee-associates.com\/northwest\/2026\/09\/16\/q2-2026-multifamily-market-report\/\"\n\t\t\t\tid=\"sow-carousel-id-9305\"\n\t\t\t\t\t\t\t\ttabindex=\"-1\"\n\t\t\t>\n\n\t\t\t\tQ2 2026 Multifamily Market Report\t\t\t<\/a>\n\t\t<\/h3>\n\t<\/div>\n\t\t\t<\/div>\n\t\t\t<\/div>\n\n\t<\/div>\n\t\t<input type=\"hidden\" name=\"instance_hash\" value=\"e1cdbe25\"\/>\n\t<\/div>\n<\/div><\/div><\/div><\/div><\/div><\/div><\/div>","protected":false},"excerpt":{"rendered":"<p>Key Deal Points 2214 W Halladay St, Seattle WA 98199 Luxury 4-unit apartment complex\u00a0with penthouse No negotiation after mutual acceptance All Cash buyer \u201cI hired Candice Chevaillier to sell my high-end fourplex.\u00a0 She had sold it to me years before and during my ownership I significantly upgraded the property. As an interior designer with a discerning eye, I wanted to ensure that my property was shown in the very best light.\u00a0 Candice welcomed my choosing&#8230;<\/p>\n","protected":false},"author":39,"featured_media":1965,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[843,1061],"tags":[],"class_list":["post-3482","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-case-study","category-multifamily"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.7 (Yoast SEO v28.7) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Case Study - Halladay Apartments - Lee &amp; Associates Pacific Northwest<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.lee-associates.com\/northwest\/2020\/11\/18\/case-study-halladay-apartments\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Case Study - Halladay Apartments\" \/>\n<meta property=\"og:description\" content=\"Key Deal Points 2214 W Halladay St, Seattle WA 98199 Luxury 4-unit apartment complex\u00a0with penthouse No negotiation after mutual acceptance All Cash buyer \u201cI hired Candice Chevaillier to sell my high-end fourplex.\u00a0 She had sold it to me years before and during my ownership I significantly upgraded the property. As an interior designer with a discerning eye, I wanted to ensure that my property was shown in the very best light.\u00a0 Candice welcomed my choosing...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.lee-associates.com\/northwest\/2020\/11\/18\/case-study-halladay-apartments\/\" \/>\n<meta property=\"og:site_name\" content=\"Lee &amp; Associates Pacific Northwest\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/nwleeassociates\/\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-18T18:10:56+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-07-07T20:48:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.lee-associates.com\/northwest\/wp-content\/uploads\/sites\/74\/2020\/03\/Blog-Headers-1024x576_Case-Study.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"574\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Ashley Gaquin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@NWLeeAssociates\" \/>\n<meta name=\"twitter:site\" content=\"@NWLeeAssociates\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ashley Gaquin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/northwest\\\/2020\\\/11\\\/18\\\/case-study-halladay-apartments\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/northwest\\\/2020\\\/11\\\/18\\\/case-study-halladay-apartments\\\/\"},\"author\":{\"name\":\"Ashley Gaquin\",\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/northwest\\\/#\\\/schema\\\/person\\\/9c7412d73ef5a4c0f2a3a46cbe7c6396\"},\"headline\":\"Case Study &#8211; 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