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10925 Southeast 259th Stree...

CBRE Brokers Sell Multifamily Property In Kent, WA For $52M From Seller The Jacobson Company
SOLDMultiFamily

CBRE Brokers Sell Multifamily Property In Kent, WA For $52M From Seller The Jacobson Company

10925 Southeast 259th Street, Kent, Washington 98030, United States

$52,000,000

Building Size

Asset Type

MultiFamily

Closing

Jun 14, 2022

AI

The multifamily property located at 10925 SE 259th St in Kent, WA has been sold for a total price of $52,000,000. The property consists of 177 units, with a per unit price of $293,785.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $52,000,000
  • Number of Units: 177
  • Price Per Unit: $293,785
  • Address: 10925 SE 259th St
  • Market: Kent, WA

The seller of the property is The Jacobson Company, represented by Larry Jacobson. The sale was facilitated by CBRE, with brokers Eli Hanacek, Jon Hallgrimson, Mark Washington, and Kyle Yamamoto.

Players

Eli Hanacek

CBRE

Broker

$1.7B

vol

20 deals

Broker
Larry Jacobson

Larry Jacobson

Jacobson Equities

Seller

$180.8M

vol

4 deals

Seller

Kent MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.31%

Cash-on-Cash

-0.09%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93