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Marcus & Millichap Sells Multifamily Property In Sumner For $3.6M

Property Image
SOLD
$3,600,000

Washington

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MultiFamily7,273 SF
Sold 03/18/2024
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Property Image
SOLD

Marcus & Millichap Sells Multifamily Property In Sumner For $3.6M

1314 Maple Street

See Similar Deals
MultiFamily7,273 SF
Sold 03/18/2024
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Summary

WASHINGTON
Asset Type:MultiFamily
Price Per Square Foot:$495
Total Square Footage:7,273 SF
Transaction Type:Sale

The multifamily property located at 1314 Maple Street in Sumner, WA, was recently sold for $3,600,000. The asset spans 7,273 square feet, resulting in a price per square foot of $495.

Summary of transaction details:

Marcus & Millichap played a vital role in facilitating the sale of the property mentioned above. The transaction was successfully completed with an undisclosed buyer acquiring the multifamily asset in Sumner. The brokers involved in the deal were Kellan Moll, Mitchell Loofburrow, and Scott Morasch, representing Marcus & Millichap.

Players

Kellan Moll
3 deals$31.7M volume
BROKER

Mitchell Loofburrow
Marcus & Millichap
2 deals$7.7M volume(206) 826-5727
BROKER

Scott Morasch
Marcus & Millichap
2 deals$7.7M volume(206) 826-5724
BROKER

Details

SOLD
IMAGE: Kellan Moll, Mitchell Loofburrow & Scott Morasch DATE: 03/18/2024 ADDRESS: 1314 Maple Street MARKET: Sumner, WA ASSET TYPE: Multifamily BROKERS: Kellan Moll, Mitchell Loofburrow & Scott Morasch - Marcus & Millichap SALE PRICE: $3,600,000 SF: 7,273 ~ PPSF: $495 NOTE: Marcus & Millichap facilitated the sale of 1314 Maple, a multifamily property in Sumner, with an undisclosed buyer purchasing the asset for $3.6 million, translating to $495 per square foot.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$192,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$12,790.04
Cash-on-Cash Return-1.27%
Monthly Debt Service$17,065.84
Annual Debt Service$204,790.04