Marcus & Millichap Brokers $2.55M Sale Of Spokane Multifamily Property
SOLD
Massachusetts
See Similar DealsMultiFamily17 SF
Sold 04/25/2023
SOLD
Marcus & Millichap Brokers $2.55M Sale Of Spokane Multifamily Property
212 218 W 7th Avenue &Amp; 45 E 8th Avenue
See Similar DealsMultiFamily17 SF
Sold 04/25/2023
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$150,294
Total Square Footage:17 SF
Transaction Type:Sale
A multifamily property located at 212-218 W 7th Avenue and 45 E 8th Avenue in Spokane, WA has been sold for $2,555,000. The property spans across 17,000 square feet and was sold at a price per square foot of $150,294.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,555,000
- Address: 212-218 W 7th Avenue & 45 E 8th Avenue, Spokane, WA
- Market: Spokane, WA
- Brokers: Georgie Christensen-Riley & Joshua C. Reynolds - Marcus & Millichap
- Square Footage: 17,000 SF
- Price per Square Foot: $150,294
The deal was facilitated by brokers Georgie Christensen-Riley and Joshua C. Reynolds from Marcus & Millichap. They represented the parties involved in the transaction, ensuring a successful sale of the multifamily property.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$136,266.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,077.37
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,112.00
Annual Debt Service$145,344.04
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