Updated Dec 4, 2024
David D. Mandarich Acquires Multiple Parcels Of Vacant Land In Lake Stevens For $12.2M From Robinett Brothers
10510 132nd Avenue Northeast, 10530 132nd Avenue Northeast, 10626 132nd Avenue Northeast & 10720 132nd Avenue Northeast
$12,200,000
Building Size
—
Asset Type
Land
Closing
Sep 8, 2023
About this deal
AI
Richmond American Homes, represented by David D. Mandarich, has acquired multiple parcels of vacant land in Lake Stevens, Washington. The land, located at 10510, 10530, 10626, and 10720 132nd Ave. NE, was purchased for a total price of $12.2 million from an entity affiliated with Robinett Brothers.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $12,200,000
- Address: 10510, 10530, 10626 and 10720 132nd Ave. NE, Lake Stevens, WA
- Market: Lake Stevens, WA
In this deal, Richmond American Homes, represented by David D. Mandarich, was the buyer, while Robinett Brothers represented the seller. The transaction involved the acquisition of several parcels of vacant land in Lake Stevens, Washington. The purchase price for the land was $12.2 million.
Players
Briarcliff Manor Land Market Snapshot
Boundary boundary · Land · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.30%
Cash-on-Cash
-0.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93