{"id":7029,"date":"2025-01-06T15:36:01","date_gmt":"2025-01-06T23:36:01","guid":{"rendered":"https:\/\/www.lee-associates.com\/northwest\/?p=7029"},"modified":"2026-08-07T11:19:27","modified_gmt":"2026-08-07T18:19:27","slug":"case-study-mt-baker-apartments","status":"publish","type":"post","link":"https:\/\/www.lee-associates.com\/northwest\/2025\/01\/06\/case-study-mt-baker-apartments\/","title":{"rendered":"Case Study &#8211; Mt Baker Apartments"},"content":{"rendered":"<div id=\"pl-7029\"  class=\"panel-layout\" ><div id=\"pg-7029-0\"  class=\"panel-grid panel-has-style\" ><div class=\"siteorigin-panels-stretch panel-row-style panel-row-style-for-7029-0\" data-stretch-type=\"full\" ><div class=\"so-panels-full-wrapper\" ><div id=\"pgc-7029-0-0\"  class=\"panel-grid-cell\" ><div id=\"panel-7029-0-0-0\" 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-113ccd71f3e6-7029\"\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\/2025\/03\/MTF-baker-case-study-image-768x526.jpg\" width=\"768\" height=\"526\" srcset=\"https:\/\/www.lee-associates.com\/northwest\/wp-content\/uploads\/sites\/74\/2025\/03\/MTF-baker-case-study-image-768x526.jpg 768w, https:\/\/www.lee-associates.com\/northwest\/wp-content\/uploads\/sites\/74\/2025\/03\/MTF-baker-case-study-image-300x206.jpg 300w, https:\/\/www.lee-associates.com\/northwest\/wp-content\/uploads\/sites\/74\/2025\/03\/MTF-baker-case-study-image.jpg 943w\" sizes=\"(max-width: 768px) 100vw, 768px\" title=\"Mt Baker Apartments Case Study Image\" alt=\"\" \t\tclass=\"so-widget-image\"\/>\n\t<\/div>\n\n<\/div><\/div><\/div><\/div><\/div><\/div><div id=\"pg-7029-1\"  class=\"panel-grid panel-no-style\" ><div id=\"pgc-7029-1-0\"  class=\"panel-grid-cell panel-grid-cell-empty\" ><\/div><div id=\"pgc-7029-1-1\"  class=\"panel-grid-cell\" ><div id=\"panel-7029-1-1-0\" class=\"so-panel widget widget_sow-editor panel-first-child\" data-index=\"1\" ><div class=\"panel-widget-style panel-widget-style-for-7029-1-1-0\" ><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>1501 &amp; 1505 31st Ave S<\/li>\n<li>5 Units<\/li>\n<li>Sale Price: $1.7M<\/li>\n<li>Brought Multiple Offers in a Stagnant Market<\/li>\n<li>Replacement Buyer Sourced within 48 hours<\/li>\n<\/ul>\n<\/div>\n<\/div><\/div><\/div><div id=\"panel-7029-1-1-1\" class=\"so-panel widget widget_sow-editor panel-last-child\" data-index=\"2\" ><div class=\"panel-widget-style panel-widget-style-for-7029-1-1-1\" ><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<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>Dea Sumantri<\/strong><\/span><\/p>\n<p>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\"><strong>Daniel Lim<\/strong><\/span><\/p>\n<p>Senior Vice President<br \/>\n<strong>D<\/strong>\u00a0 (206) 773-2692<br \/>\ndlim@lee-associates.com<\/p>\n<\/div>\n<\/div><\/div><\/div><\/div><div id=\"pgc-7029-1-2\"  class=\"panel-grid-cell panel-grid-cell-mobile-last\" ><div id=\"panel-7029-1-2-0\" 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>Challenge<\/strong><\/h2>\n<p>Long-time owners of a well-maintained property in Mt. Baker were transitioning into a new lifestyle which required a change in their investment strategy. Selling their property was key to this transition and maximizing their proceeds was crucial to achieving their goal. The Multifamily Team successfully identified a buyer who valued both the financial return and the unique location overlooking Downtown Seattle and the Sound. However, just five days before closing, with all contingencies waived and signings scheduled, the buyer unexpectedly walked away from the deal, leaving behind their earnest money and a shocked Seller. With the transaction unraveling, the team needed to act quickly to salvage the sale.<\/p>\n<\/div>\n<\/div><\/div><div id=\"panel-7029-1-2-1\" 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>Action<\/strong><\/h2>\n<p>During the marketing process the Multifamily Team strategically curated a competitive bidding environment by eliminating unqualified buyers and presenting the strongest offers. Anticipating potential deal risks when going under contract with the first buyer, they had maintained communication with the second-highest bidder, a group that was in the process of selling another property and was eager to exchange into local asset. Within 48 hours of the first buyer rescinding their offer and forfeiting their $32,500 in earnest money, the team brought in a full-price offer with nearly identical terms and placed the property back under contract before the first buyer\u2019s earnest money had transferred into the Seller\u2019s account. The Team\u2019s proactive approach ensured a seamless transition for the Sellers.<\/p>\n<\/div>\n<\/div><\/div><div id=\"panel-7029-1-2-2\" 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>Result<\/strong><\/h2>\n<p>Despite the initial setback, the Multifamily Team successfully pivoted and secured a new contract with minimal delay. By leveraging their expertise and maintaining proactive communication, they guided the new buyers through the intricacies of the asset ensuring a smooth closing process. In the end, the Sellers not only achieved their lifestyle goals but also netted proceeds all in above their asking price, setting themselves up for a successful future.<\/p>\n<\/div>\n<\/div><\/div><div id=\"panel-7029-1-2-3\" class=\"so-panel widget widget_sow-editor panel-last-child\" data-index=\"6\" ><div class=\"panel-widget-style panel-widget-style-for-7029-1-2-3\" ><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<blockquote>\n<p>&nbsp;<\/p>\n<p><i>\"We were extremely pleased with Daniel and the Lee Team. They demonstrated professionalism, responsiveness, and a proactive approach throughout the process. When our initial contract fell through, they swiftly secured a qualified second buyer and expertly guided the transaction to a successful closing.\"<\/i><\/p>\n<p><em>- Greg &amp; Rick<\/em><\/p>\n<p style=\"text-align: left\">\n<\/blockquote>\n<\/div>\n<\/div><\/div><\/div><\/div><div id=\"pgc-7029-1-3\"  class=\"panel-grid-cell panel-grid-cell-empty\" ><\/div><\/div><div id=\"pg-7029-2\"  class=\"panel-grid panel-has-style\" ><div class=\"siteorigin-panels-stretch panel-row-style panel-row-style-for-7029-2\" id=\"blog\" data-stretch-type=\"full\" ><div class=\"so-panels-full-wrapper\" ><div id=\"pgc-7029-2-0\"  class=\"panel-grid-cell\" ><div id=\"panel-7029-2-0-0\" class=\"so-panel widget widget_sow-headline panel-first-child\" data-index=\"7\" ><div class=\"panel-widget-style panel-widget-style-for-7029-2-0-0\" ><div\n\t\t\t\n\t\t\tclass=\"so-widget-sow-headline so-widget-sow-headline-default-f8d8efd972d8-7029 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 CENTER...\t\t\t\t\t\t<\/h4>\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"decoration\">\n\t\t\t\t\t\t<div class=\"decoration-inside\"><\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n<\/div><\/div><\/div><div id=\"panel-7029-2-0-1\" class=\"so-panel widget widget_sow-post-carousel panel-last-child\" data-index=\"8\" ><div\n\t\t\t\n\t\t\tclass=\"so-widget-sow-post-carousel so-widget-sow-post-carousel-base-ad93eedad001-7029\"\n\t\t\t\n\t\t>\t<div\n\t\tclass=\"sow-post-carousel-wrapper sow-post-carousel-theme-base\"\n\t\tstyle=\"overflow: hidden; max-width: 100%; min-height: 182px\"\n\t>\n\t\t<div class=\"sow-carousel-title\">\n\t\t\t<div class=\"sow-carousel-navigation \">\n\t\t\t\t\t\t<a href=\"#\" class=\"sow-carousel-next\" title=\"Next\" aria-label=\"Next Posts\" role=\"button\"><\/a>\n\t\t\t\t\t\t<a href=\"#\" 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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-industrial-market-report\/\"\n\t\t\t\tid=\"sow-carousel-id-9315\"\n\t\t\t\t\t\t\t\ttabindex=\"-1\"\n\t\t\t>\n\n\t\t\t\tQ2 2026 Industrial Market Report\t\t\t<\/a>\n\t\t<\/h3>\n\t<\/div>\n\t\t<div class=\"sow-carousel-item\" tabindex=\"-1\" style=\"float: 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=\"8deb12f1\"\/>\n\t<\/div>\n<\/div><\/div><\/div><\/div><\/div><\/div><\/div>","protected":false},"excerpt":{"rendered":"<p>Key Deal Points 1501 &amp; 1505 31st Ave S 5 Units Sale Price: $1.7M Brought Multiple Offers in a Stagnant Market Replacement Buyer Sourced within 48 hours &nbsp; For more information regarding this case study, please contact: Candice Chevaillier, CCIM Principal D\u00a0 (206) 773-2694 cchevaillier@lee-associates.com &nbsp; Dea Sumantri Vice President D\u00a0 (206) 773-2680 dsumantri@lee-associates.com &nbsp; Daniel Lim Senior Vice President D\u00a0 (206) 773-2692 dlim@lee-associates.com Challenge Long-time owners of a well-maintained property in Mt. Baker were&#8230;<\/p>\n","protected":false},"author":244,"featured_media":1965,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[843,1061,1183],"tags":[1103,1104,1105],"class_list":["post-7029","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-case-study","category-multifamily","category-seattle","tag-candice-chevaillier","tag-daniel-lim","tag-dea-sumantri"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.6 (Yoast SEO v28.6) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Case Study - Mt Baker 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\/2025\/01\/06\/case-study-mt-baker-apartments\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Case Study - Mt Baker Apartments\" \/>\n<meta property=\"og:description\" content=\"Key Deal Points 1501 &amp; 1505 31st Ave S 5 Units Sale Price: $1.7M Brought Multiple Offers in a Stagnant Market Replacement Buyer Sourced within 48 hours &nbsp; For more information regarding this case study, please contact: Candice Chevaillier, CCIM Principal D\u00a0 (206) 773-2694 cchevaillier@lee-associates.com &nbsp; Dea Sumantri Vice President D\u00a0 (206) 773-2680 dsumantri@lee-associates.com &nbsp; Daniel Lim Senior Vice President D\u00a0 (206) 773-2692 dlim@lee-associates.com Challenge Long-time owners of a well-maintained property in Mt. 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