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Kidder Mathews Sells 65-Unit Multifamily Property At 1701 Dexter Avenue N For $18.85M

Property Image
SOLD
$18,850,000
Jerrid Anderson
Dylan Simon
+ 1

Washington

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MultiFamily
Sold 07/09/2024
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Property Image
SOLD

Kidder Mathews Sells 65-Unit Multifamily Property At 1701 Dexter Avenue N For $18.85M

1701 Dexter Avenue North

See Similar Deals
MultiFamily
Sold 07/09/2024
Jerrid Anderson
Dylan Simon
+ 1
Contact now

Summary

WASHINGTON
Asset Type:MultiFamily
Transaction Type:Sale

The property asset involved in this transaction is a multifamily building located at 1701 Dexter Avenue North in Seattle, WA. This Class A apartment building comprises 65 units and was sold for $18.85 million, resulting in a price per unit of $290,000.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $18,850,000
  • Units: 65
  • Price Per Unit: $290,000
  • Market: Seattle, WA

The key individuals involved in the deal are Dylan Simon, JD Fuller, Jerrid Anderson, and Matt Laird, who represent the brokerage firm Kidder Mathews in this transaction.

Players

Dylan Simon
15 deals$365.8M volume
BROKER

Matt Laird
Kidder Mathews
7 deals$229.5M volume
BROKER

Jerrid Anderson
Kidder Mathews
14 deals$350.8M volume
BROKER

JD Fuller
Kidder Mathews
8 deals$177.2M volume(206) 665-3272
BROKER

Details

SOLD
IMAGE: 07/09/2024 ADDRESS: 1701 Dexter Avenue North MARKET: Seattle, WA ASSET TYPE: Multifamily BROKERS: Dylan Simon, JD Fuller, Jerrid Anderson & Matt Laird - Kidder Mathews SALE PRICE: $18,850,000 UNITS: 65 ~ PPU: $290,000 NOTE: Kidder Mathews announced the sale of Dexter Hayes, a 65-unit Class A apartment building at 1701 Dexter Avenue N. in Seattle's Westlake neighborhood, for $18.85 million, or $290,000 per unit.

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

$1,005,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$66,970.08
Cash-on-Cash Return-1.27%
Monthly Debt Service$89,358.62
Annual Debt Service$1,072,303.40