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RISE Properties Trust Sells Multifamily Property In Everett, WA For $61.6M With IPA Brokers
SOLD
$61,600,000
+ 2
Washington
See Similar DealsMultiFamily
Sold 05/24/2023
SOLD
RISE Properties Trust Sells Multifamily Property In Everett, WA For $61.6M With IPA Brokers
11225 19th Avenue Southeast Everett, Washington 98208, USA
See Similar DealsMultiFamily
Sold 05/24/2023
+ 2
Summary
WASHINGTON
Asset Type:MultiFamily
Transaction Type:Sale
Rise Properties Trust, represented by Jason Murray, has sold a multifamily property located at 11225 19th Avenue Southeast in Everett, WA. The transaction was facilitated by Philip Assouad, Ryan Harmon, Nicholas Ruggiero, and Anthony Palladino from Institutional Property Advisors. The property consists of 192 units, with a sale price of $61,600,000, translating to approximately $320,833 per unit.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $61,600,000
- Units: 192
- Price Per Unit: $320,833
- Seller: Rise Properties Trust - Jason Murray
- Brokers: Philip Assouad, Ryan Harmon, Nicholas Ruggiero, and Anthony Palladino - Institutional Property Advisors
The collaboration of Philip Assouad, Ryan Harmon, Nicholas Ruggiero, and Anthony Palladino from Institutional Property Advisors played a crucial role in the successful completion of the transaction. With their expertise and industry knowledge, they were able to represent Rise Properties Trust, ensuring a smooth and efficient sale.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,285,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$218,851.80
Cash-on-Cash Return-1.27%
Monthly Debt Service$292,015.43
Annual Debt Service$3,504,185.12
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