{"id":6729,"date":"2024-05-15T11:38:51","date_gmt":"2024-05-15T18:38:51","guid":{"rendered":"https:\/\/www.lee-associates.com\/northwest\/?p=6729"},"modified":"2026-07-07T13:45:44","modified_gmt":"2026-07-07T20:45:44","slug":"case-study-1938-11th-avenue-w-7-units-2-2","status":"publish","type":"post","link":"https:\/\/www.lee-associates.com\/northwest\/2024\/05\/15\/case-study-1938-11th-avenue-w-7-units-2-2\/","title":{"rendered":"Case Study &#8211; Capitol Hill 5-Unit"},"content":{"rendered":"<div id=\"pl-6729\"  class=\"panel-layout\" ><div id=\"pg-6729-0\"  class=\"panel-grid panel-has-style\" ><div class=\"siteorigin-panels-stretch panel-row-style panel-row-style-for-6729-0\" data-stretch-type=\"full\" ><div class=\"so-panels-full-wrapper\" ><div id=\"pgc-6729-0-0\"  class=\"panel-grid-cell\" ><div id=\"panel-6729-0-0-0\" 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-113ccd71f3e6-6729\"\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\/2024\/12\/DSCF4338-1024x682.jpg\" width=\"1024\" height=\"682\" srcset=\"https:\/\/www.lee-associates.com\/northwest\/wp-content\/uploads\/sites\/74\/2024\/12\/DSCF4338-1024x682.jpg 1024w, https:\/\/www.lee-associates.com\/northwest\/wp-content\/uploads\/sites\/74\/2024\/12\/DSCF4338-300x200.jpg 300w, https:\/\/www.lee-associates.com\/northwest\/wp-content\/uploads\/sites\/74\/2024\/12\/DSCF4338-768x512.jpg 768w, https:\/\/www.lee-associates.com\/northwest\/wp-content\/uploads\/sites\/74\/2024\/12\/DSCF4338-1536x1024.jpg 1536w, https:\/\/www.lee-associates.com\/northwest\/wp-content\/uploads\/sites\/74\/2024\/12\/DSCF4338-272x182.jpg 272w, https:\/\/www.lee-associates.com\/northwest\/wp-content\/uploads\/sites\/74\/2024\/12\/DSCF4338.jpg 2000w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" alt=\"\" \t\tclass=\"so-widget-image\"\/>\n\t<\/div>\n\n<\/div><\/div><\/div><\/div><\/div><\/div><div id=\"pg-6729-1\"  class=\"panel-grid panel-no-style\" ><div id=\"pgc-6729-1-0\"  class=\"panel-grid-cell panel-grid-cell-empty\" ><\/div><div id=\"pgc-6729-1-1\"  class=\"panel-grid-cell\" ><div id=\"panel-6729-1-1-0\" class=\"so-panel widget widget_sow-editor panel-first-child\" data-index=\"1\" ><div class=\"panel-widget-style panel-widget-style-for-6729-1-1-0\" ><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>1806 16th Ave., Seattle, WA<\/li>\n<li>Multiple Offers<\/li>\n<li>Sale Price: $1.5M<\/li>\n<li>Redevelopment Play Closed in 70 Days<\/li>\n<\/ul>\n<\/div>\n<\/div><\/div><\/div><div id=\"panel-6729-1-1-1\" class=\"so-panel widget widget_sow-editor\" data-index=\"2\" ><div class=\"panel-widget-style panel-widget-style-for-6729-1-1-1\" ><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>&nbsp;<\/p>\n<blockquote>\n<p><em>It was a pleasure working with the Lee &amp; Associates Multifamily team. They were responsive and focused on how to net me the highest proceeds in the shortest amount of time. I was pleased that even though the buyer was a developer, I didn\u2019t have to wait around for a typical developer closing timeline. The property from \u201cfor sale\u201d to \u201cclosed\u201d in just over one month!<\/em><\/p>\n<p><em>- Mr. L.<\/em><\/p>\n<p style=\"text-align: left\">\n<\/blockquote>\n<\/div>\n<\/div><\/div><\/div><div id=\"panel-6729-1-1-2\" class=\"so-panel widget widget_sow-editor panel-last-child\" data-index=\"3\" ><div class=\"panel-widget-style panel-widget-style-for-6729-1-1-2\" ><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<p><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<p>&nbsp;<\/p>\n<p><span style=\"color: #009ad9\"><strong>Daniel Lim<\/strong><\/span><\/p>\n<p>Vice President<br \/>\n<strong>D<\/strong>\u00a0 (206) 773-2692<br \/>\ndlim@lee-associates.com<\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"color: #009ad9\"><strong>Dea Sumantri<\/strong><\/span><\/p>\n<p>Associate Vice President<br \/>\n<strong>D<\/strong>\u00a0 (206) 773-2680<br \/>\ndsumantri@lee-associates.com<\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"color: #009ad9\"><b>Chris Larsen<\/b><\/span><\/p>\n<p>Associate<br \/>\n<strong>D<\/strong>\u00a0 (206) 773-2695<br \/>\nclarsen@lee-associates.com<\/p>\n<\/div>\n<\/div><\/div><\/div><\/div><div id=\"pgc-6729-1-2\"  class=\"panel-grid-cell panel-grid-cell-mobile-last\" ><div id=\"panel-6729-1-2-0\" class=\"so-panel widget widget_sow-editor panel-first-child\" 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>Assignment<\/strong><\/h2>\n<p>The owners of this parcel in a prime development district hired Lee and Associates to market their property. Attractively situated across from Seven Hills Park in Capitol Hill, this opportunity had many promising attributes. Lee &amp; Associates was hired to execute the marketing and sale of the property as well as navigate around potential pitfalls and the current market conditions to successfully achieve their exit and maximize value.<\/p>\n<\/div>\n<\/div><\/div><div id=\"panel-6729-1-2-1\" 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>Action<\/strong><\/h2>\n<p>Identifying the potential that existed in the property, vacancies that allowed for investors to reset rents, renovate or even convert to single family. In addition, the property made for an attractive development site. The Multifamily Team launched a comprehensive marketing campaign. Broad exposure was essential, leveraging digital platforms, listing services, and their own curated buyer lists they targeted both value add investors and in-fill developers.<\/p>\n<p>When initial responses revealed strong interest from developers, the Team swiftly focused their outreach on that audience. Rooftop calling local townhome and in-fill site developers directly, to emphasize the properties development potential.<\/p>\n<\/div>\n<\/div><\/div><div id=\"panel-6729-1-2-2\" class=\"so-panel widget widget_sow-editor panel-last-child\" data-index=\"6\" ><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>Result<\/strong><\/h2>\n<p>The Team\u2019s comprehensive approach and nimbleness in pivoting strategies, yielded multiple offers within the first two weeks of marketing. They were able to not only push pricing but also terms, shrinking developer timelines into a more typically conventional closing timeframe and reduce contingencies for their client.<\/p>\n<p>As the buyer proceeded through their feasibility, the team worked diligently to address and reduce any potential risks for their clients resulting in a smooth on time closing.<\/p>\n<\/div>\n<\/div><\/div><\/div><div id=\"pgc-6729-1-3\"  class=\"panel-grid-cell panel-grid-cell-empty\" ><\/div><\/div><div id=\"pg-6729-2\"  class=\"panel-grid panel-has-style\" ><div class=\"siteorigin-panels-stretch panel-row-style panel-row-style-for-6729-2\" id=\"blog\" data-stretch-type=\"full\" ><div class=\"so-panels-full-wrapper\" ><div id=\"pgc-6729-2-0\"  class=\"panel-grid-cell\" ><div id=\"panel-6729-2-0-0\" class=\"so-panel widget widget_sow-headline panel-first-child\" data-index=\"7\" ><div class=\"panel-widget-style panel-widget-style-for-6729-2-0-0\" ><div\n\t\t\t\n\t\t\tclass=\"so-widget-sow-headline 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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=\"46acc0a2\"\/>\n\t<\/div>\n<\/div><\/div><\/div><\/div><\/div><\/div><\/div>","protected":false},"excerpt":{"rendered":"<p>Key Deal Points 1806 16th Ave., Seattle, WA Multiple Offers Sale Price: $1.5M Redevelopment Play Closed in 70 Days &nbsp; It was a pleasure working with the Lee &amp; Associates Multifamily team. They were responsive and focused on how to net me the highest proceeds in the shortest amount of time. I was pleased that even though the buyer was a developer, I didn\u2019t have to wait around for a typical developer closing timeline. The&#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":[1103,1126,1104,1105],"class_list":["post-6729","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-case-study","category-multifamily","tag-candice-chevaillier","tag-chris-larsen","tag-daniel-lim","tag-dea-sumantri"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.5 (Yoast SEO v28.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Case Study - Capitol Hill 5-Unit - 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\/2024\/05\/15\/case-study-1938-11th-avenue-w-7-units-2-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Case Study - Capitol Hill 5-Unit\" \/>\n<meta property=\"og:description\" content=\"Key Deal Points 1806 16th Ave., Seattle, WA Multiple Offers Sale Price: $1.5M Redevelopment Play Closed in 70 Days &nbsp; It was a pleasure working with the Lee &amp; Associates Multifamily team. They were responsive and focused on how to net me the highest proceeds in the shortest amount of time. I was pleased that even though the buyer was a developer, I didn\u2019t have to wait around for a typical developer closing timeline. The...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.lee-associates.com\/northwest\/2024\/05\/15\/case-study-1938-11th-avenue-w-7-units-2-2\/\" \/>\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=\"2024-05-15T18:38:51+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-07-07T20:45:44+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=\"2 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\\\/2024\\\/05\\\/15\\\/case-study-1938-11th-avenue-w-7-units-2-2\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/northwest\\\/2024\\\/05\\\/15\\\/case-study-1938-11th-avenue-w-7-units-2-2\\\/\"},\"author\":{\"name\":\"Ashley Gaquin\",\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/northwest\\\/#\\\/schema\\\/person\\\/9c7412d73ef5a4c0f2a3a46cbe7c6396\"},\"headline\":\"Case Study &#8211; 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