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Cushman & Wakefield Facilitates $7.285M Sale Of Burien Multifamily Property

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SOLD
$7,285,000
Matt Kemper
Dan Chhan
+ 4

Washington

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MultiFamily
Sold
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Property Image
SOLD

Cushman & Wakefield Facilitates $7.285M Sale Of Burien Multifamily Property

12707 13th Lane Southwest & 12733 13th Lane Southwest

See Similar Deals
MultiFamily
Sold
Matt Kemper
Dan Chhan
+ 4
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Summary

WASHINGTON
Asset Type:MultiFamily
Transaction Type:Sale

The Stratford Square Apartments in Burien, Washington, a suburb of Seattle, were recently sold for $7.285 million. The multifamily property consists of 32 units spread across garden-style buildings and duplexes located at 12707-12733 13th Lane Southwest in the Burien market.

Summary of transaction details:

Cushman & Wakefield played a crucial role in facilitating the transaction, connecting the seller, Stratford Square LLC, with a Local Family Operator who acquired the property. The sale of the multifamily asset was successfully completed, signifying a significant transaction in the Burien market.

Players

Tim McKay
16 deals$289.6M volume
BROKER

Dan Chhan
Cushman & Wakefield
16 deals$289.6M volume
BROKER

Matt Kemper
Cushman & Wakefield
16 deals$289.6M volume
BROKER

Jacob Odegard
Cushman & Wakefield
9 deals$176.4M volume(253) 486-6725
BROKER

Dylan Roeter
Cushman & Wakefield
8 deals$171.9M volume(425) 445-0071
BROKER

Jon Breiner
Paragon Real Estate Advisors
1 deal$7.3M volume(206) 812-9118
BROKER

Nick Hemming
Paragon Real Estate Advisors
2 deals$11.6M volume(206) 812-9105
BROKER

Details

SOLD
IMAGE: Dan Chhan, Dylan Roeter, Jacob Odegard, Matt Kemper, Tim McKay, Jon Breiner & Nick Hemming DATE: 02/15/2024 ADDRESS: 12707-12733 13th Lane Southwest MARKET: Burien, WA ASSET TYPE: Multifamily SELLER: Stratford Square LLC BUYER'S REP: Dan Chhan, Dylan Roeter, Jacob Odegard, Matt Kemper & Tim McKay - Cushman & Wakefield SELLER'S REP: Jon Breiner & Nick Hemming - Paragon Real Estate Advisors SALE PRICE: $7,285,000 UNITS: 32 ~ PPU: $227,656 NOTE: Cushman & Wakefield facilitated the sale of Stratford Square Apartments in Burien, Washington, a suburb of Seattle, consisting of 32 units across garden-style buildings and duplexes, to a Local Family Operator for $7.285 million.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$25,882.08
Cash-on-Cash Return-1.27%
Monthly Debt Service$34,534.62
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