Updated Sep 5, 2024
Marcus & Millichap Arranges $3.55M Construction Loan For Multifamily Property In Seattle
7717 45th Avenue Northeast Seattle, Washington 98115, USA
$3,550,000
Building Size
—
Asset Type
MultiFamily
Closing
Jul 24, 2023
About this deal
AI
A $3,550,000 loan has been arranged by Marcus & Millichap Capital Corporation (MMCC) for the construction of a multifamily property located at 7717 45th Avenue NE in Seattle, Washington. The property is in a prime location in the city and offers great potential for development.
Summary of transation details
- Property Type: MultiFamily
- Transaction Amount: $3,550,000
- Location: 7717 45th Avenue NE, Seattle, WA
- Market: Seattle, Washington
Tammy Linden of Marcus & Millichap served as the broker for this deal. As a reputable representative in the industry, Tammy played a crucial role in negotiating and finalizing the loan for the construction project. Her expertise in the market and her experience with multi-family properties made her an ideal choice for this transaction.
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.47%
Cash-on-Cash
-1.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93