Cushman & Wakefield Sells Vintage Mixed-Use Property In Seattle For $4.5M
1505 Northwest 60th Street & 1511 Northwest 60th Street
$4,500,000
Building Size
—
Asset Type
Mixed-use
Closing
May 21, 2024
AI
The $4.5 million sale of Villa Luisa, a vintage mixed-use property in Seattle's Ballard neighborhood, was arranged by Cushman & Wakefield. The 1927-built asset comprises 16 apartments, four retail spaces, and on-site parking. The seller and buyer identities remain undisclosed.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $4,500,000
- Address: 1505 Northwest 60th Street & 1511 Northwest 60th Street
- Market: Seattle, WA
- Brokers: Dan Chhan, Jacob Odegard, Matt Kemper & Tim McKay - Cushman & Wakefield
Cushman & Wakefield played a pivotal role in the sale of Villa Luisa, with brokers Dan Chhan, Jacob Odegard, Matt Kemper, and Tim McKay facilitating the transaction.
Players
Seattle Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.53%
Cash-on-Cash
-1.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93