Sage Homes Northwest Acquires Multifamily Portfolio In Lakewood, WA For $20.4M
SOLD
$20,400,000
Washington
See Similar DealsMultiFamily
Sold 05/01/2023
SOLD
Sage Homes Northwest Acquires Multifamily Portfolio In Lakewood, WA For $20.4M
12802 Lincoln Avenue Southwest, Lakewood, Washington 98499, United States
See Similar DealsMultiFamily
Sold 05/01/2023
Summary
WASHINGTON
Asset Type:MultiFamily
Transaction Type:Sale
Sage Homes Northwest has acquired a multifamily property located at 12802-12878 Lincoln Ave. SW; 9120 Lawndale Ave., 9104 Newgrove Ave. SW & 9119 Kenwood Ave. SW; & 12805-12809 47th Ave. SW, in Lakewood, WA. The transaction recorded a sale price of $20,400,000.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $20,400,000
- Buyer: Sage Homes Northwest
- Brokers: Brandon Lawler, Jerrid Anderson & Dylan Simon - Kidder Mathews
Brandon Lawler, Jerrid Anderson, and Dylan Simon from Kidder Mathews represented the buyer, Sage Homes Northwest, in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,087,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$72,476.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$96,706.41
Annual Debt Service$1,160,476.89
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