Updated Dec 5, 2024
Wright Investment Properties LLC Acquires Heron View Apartments From Weidner Apartment Homes For $19.88M
18249 73rd Avenue Northeast
$19,880,000
Units
72
Asset Type
MultiFamily
Closing
Nov 22, 2024
About this deal
AI
The property asset involved in the transaction is a multifamily asset located at 18249 73rd Avenue Northeast in Kenmore, WA. This asset comprises 72 units, with a total sale price of $19,880,000, which equates to $276,111 per unit.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $19,880,000
- Units: 72
- Price Per Unit: $276,111
- Buyer: Wright Investment Properties LLC
- Seller: Weidner Apartment Homes
- Broker: Institutional Property Advisor
The deal highlights the acquisition made by Wright Investment Properties LLC from Weidner Apartment Homes, facilitated by Institutional Property Advisor. The transaction was finalized on November 22, 2024, marking a significant addition to the buyer's portfolio in the Kenmore market.
On the Map
$19,880,000
MultiFamily
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Kenmore MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.80%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93