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Ryan Somers Of Benedict Canyon Equities Acquires Tessera Apartments From Goodman Real Estate For $38.8M
SOLD
$38,800,000
Washington
See Similar DealsMultiFamily145,600 SF
Sold 09/30/2025
SOLD
Ryan Somers Of Benedict Canyon Equities Acquires Tessera Apartments From Goodman Real Estate For $38.8M
1304 Bruskrud Road
See Similar DealsMultiFamily145,600 SF
Sold 09/30/2025
Summary
WASHINGTON
Asset Type:MultiFamily
Price Per Square Foot:$266
Total Square Footage:145,600 SF
Transaction Type:Sale
A multifamily property located at 1304 Bruskrud Road in Everett, WA has been sold. The asset encompasses 6.2 acres and includes 156 units, which total 145,600 square feet. The sale price for the property was $38,800,000, resulting in a price per unit of $248,718 and a price per square foot of $266.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $38,800,000
- Address: 1304 Bruskrud Road
- Market: Everett, WA
- Units: 156
- Square Feet: 145,600
- Price Per Unit: $248,718
- Price Per Square Foot: $266
- Buyer: Ryan Somers - Benedict Canyon Equities
- Seller: Goodman Real Estate
Goodman Real Estate, based in Seattle, completed the sale of the Tessera Apartments to Benedict Canyon Equities, a company located in Los Angeles. This transaction reflects a significant investment in the multifamily housing market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,069,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$137,848.21
Cash-on-Cash Return-1.27%
Monthly Debt Service$183,931.79
Annual Debt Service$2,207,181.54
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