Updated Dec 4, 2024
Mondivan Group Acquires Multifamily Asset In Seattle, WA For $28.5M
1300 East Pike Street
$28,500,000
Units
45
Asset Type
MultiFamily
Closing
Sep 26, 2023
About this deal
AI
The "passive house" apartment building in Seattle, known as Solis, has been sold for $28.5 million. The property is located at 1300 East Pike Street in Seattle, Washington. This multifamily asset consists of 45 units, with an average price per unit (PPU) of $633,333.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $28,500,000
- Address: 1300 East Pike Street, Seattle, WA
- Market: Seattle, WA
- Buyer: Mondivan Group
- Seller: Solis Seattle LLC
- Brokers: Dan Chhan, Matt Kemper, Sam Wayne & Tim McKay - Cushman & Wakefield
- Units: 45
- Price per Unit (PPU): $633,333
The transaction was facilitated by the Cushman & Wakefield team, led by Managing Director Sam Wayne, along with Tim McKay, Matt Kemper, and Dan Chhan. The buyer, Mondivan Group, is based in Vancouver, British Columbia.
On the Map
$28,500,000
MultiFamily
View full map
Players
Seattle MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Visit Tim McKay to view all their deals.
Browse Seattle multifamily sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.56%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93