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Timberlane Partners Acquires Seattle Multifamily For $37M
SOLD
$37,000,000
Washington
See Similar DealsMultiFamily
Sold 06/01/2023
SOLD
Timberlane Partners Acquires Seattle Multifamily For $37M
1000 Fern Street Southwest Olympia, Washington 98502, USA
See Similar DealsMultiFamily
Sold 06/01/2023
Summary
WASHINGTON
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 1000 Fern Street Southwest in Seattle, WA has been sold for a total price of $37,000,000. The property consists of 143 units, with a per unit price of $258,741.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $37,000,000
- Units: 143
- Price Per Unit: $258,741
The buyer in this transaction is Timberlane Partners, while the seller is Commercial Property Services Inc. The deal was facilitated by Jordan Louie from JLL.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,973,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$131,453.19
Cash-on-Cash Return-1.27%
Monthly Debt Service$175,398.88
Annual Debt Service$2,104,786.52
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