CBRE announced the sale of 8th + Republican Apartments, a 211-unit mid-rise multifamily community located at 430 8th Ave N in Seattle’s South Lake Union neighborhood. The property was acquired by a confidential institutional investor for $94,850,000.
CBRE’s Eli Hanacek, Kyle Yamamoto, Mark Washington and Natalie Kasper represented the confidential seller.
Completed in 2016, 8th + Republican is a high-quality mid-rise building constructed with concrete and steel, offering modern living in one of Seattle’s most vibrant urban neighborhoods. The property features units with contemporary finishes, including smart home technology, solar shades, walk-in closets, wood-style flooring, and stainless-steel appliances, as well as floor-to-ceiling windows that provide an abundance of natural light. Amenities at the property include an outdoor terrace with panoramic views, a fitness center, a dog park and spa, a resident lounge, and dry-cleaning services.
Strategically positioned in the heart of South Lake Union, the property is walkable to the headquarters and major offices of some of the area’s largest employers. Residents also benefit from immediate access to a vibrant mix of restaurants, retail, and nightlife.
“This sale underscores the strength of Seattle’s multifamily fundamentals and investor appetite for ultra-core locations,” said Yamamoto, senior vice president at CBRE. “8th + Republican stands out for its best-in-class construction quality, modern design, and proximity to the epicenter of high-paying employers. With strong projected rent growth and enduring demand drivers, the asset is well-positioned for long-term performance.”
According to CBRE Research, this transaction is one of the highest prices per unit achieved for mid-rise product in Seattle in 2025. Overall, the Seattle multifamily market closed Q2 2025 with an occupancy rate of 95.9%, a .6% increase from Q1 2025. Demand continues to be fueled by a return to office and tech expansion, reinforcing the fundamentals of the market despite interest rate volatility.
