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Kidder Mathews Facilitates $15.5M Sale Of 53-Unit Borealis Apartments In Seattle

Property Image
SOLD
$15,500,000

Washington

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MultiFamily
Sold 11/26/2025
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Property Image
SOLD

Kidder Mathews Facilitates $15.5M Sale Of 53-Unit Borealis Apartments In Seattle

109 Dexter Avenue North

See Similar Deals
MultiFamily
Sold 11/26/2025
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Summary

WASHINGTON
Asset Type:MultiFamily
Transaction Type:Sale

The transaction involved Borealis Apartments, a 53-unit multifamily property located at 109 Dexter Avenue North in Seattle, WA. The property was sold for $15,500,000, resulting in a price per unit of $292,453.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $15,500,000
  • Units: 53
  • Price per Unit: $292,453
  • Market: Seattle, WA

Kidder Mathews facilitated the sale, representing both the undisclosed buyer and seller in this transaction. The brokers involved were Dylan Smith, Jerrid Anderson, and JD Fuller from Kidder Mathews.

Players

Dylan Smith
3 deals$15.5M volume
BROKER

Jerrid Anderson
Kidder Mathews
14 deals$350.8M volume
BROKER

JD Fuller
Kidder Mathews
8 deals$177.2M volume(206) 665-3272
BROKER

Kidder Mathews
BROKERAGE

Details

SOLD
IMAGE: 11/26/2025 ADDRESS: 109 Dexter Avenue North MARKET: Seattle, WA ASSET TYPE: Multifamily BROKERS: Dylan Smith, Dylan Smith, Jerrid Anderson & JD Fuller - Kidder Mathews SALE PRICE: $15,500,000 UNITS: 53 ~ PPU: $292,453 NOTE: Kidder Mathews facilitated the sale of Borealis Apartments, a 53-unit multifamily property in Seattle’s South Lake Union, representing both undisclosed buyer and seller.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$826,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$55,068.22
Cash-on-Cash Return-1.27%
Monthly Debt Service$73,477.91
Annual Debt Service$881,734.89