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JLL Capital Markets Brokers $136.125 Million Sale Of Beaumont Apartments In Woodinville, WA

Property Image
SOLD
$136,125,000
Chris Ross
Corey Marx
David Young

Washington

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MultiFamily
Sold 12/04/2024
the dealplayerscompscontact
Property Image
SOLD

JLL Capital Markets Brokers $136.125 Million Sale Of Beaumont Apartments In Woodinville, WA

14001 Northeast 183rd Street

See Similar Deals
MultiFamily
Sold 12/04/2024
Chris Ross
Corey Marx
David Young
the dealplayerscompscontact
Contact now

Summary

WASHINGTON
Asset Type:MultiFamily
Transaction Type:Sale

The transaction involved the sale of Beaumont Apartments, a multifamily property located at 14001 Northeast 183rd Street, Woodinville, WA, encompassing 14.3 acres. The sale price was $136,125,000. This asset is a 2009-built, institutional-quality development comprising three buildings, modern apartments, and resort-style amenities, which offer significant value-add potential in a desirable submarket with convenient access to Seattle and surrounding amenities.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $136,125,000
  • Address: 14001 Northeast 183rd Street
  • Market: Woodinville, WA
  • Acres: 14.3

JLL Capital Markets facilitated the transaction, with brokers Chris Ross, Corey Marx, and David Young representing the seller. Their involvement underscores their expertise in the multifamily sector within the region, contributing to the successful completion of the sale of this high-quality property.

Players

Chris Ross
JLL
Chris Ross
10 deals$687.9M volume(858) 692-1312
BROKER
Corey Marx
JLL
Corey Marx
8 deals$627.9M volume(206) 607-1726
BROKER
David Young
JLL
David Young
8 deals$551.9M volume(206) 607-1719
BROKER

Details

SOLD
IMAGE: 12/04/2024 ADDRESS: 14001 Northeast 183rd Street MARKET: Woodinville, WA ASSET TYPE: Multifamily ~ ACRES: 14.3 BROKERS: Chris Ross, Corey Marx & David Young - JLL SALE PRICE: $136,125,000 NOTE: JLL Capital Markets brokered the $136.125 million sale of Beaumont Apartments, a 2009-built, institutional-quality property in Woodinville, Washington, offering easy access to Seattle and surrounding amenities. The three-building community, featuring modern apartments and resort-style amenities, provides strong value-add potential in a sought-after submarket.

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

$7,260,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$483,623.37
Cash-on-Cash Return-1.27%
Monthly Debt Service$645,301.95
Annual Debt Service$7,743,623.37