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Veritas Investments Acquires 44-Unit Bellefield Manor Multifamily In Bellevue, WA For $16.1M

Property Image
SOLD
$16,100,000
Sam Wayne
Matt Kemper
+ 1

Washington

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MultiFamily
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Property Image
SOLD

Veritas Investments Acquires 44-Unit Bellefield Manor Multifamily In Bellevue, WA For $16.1M

1830 108th Avenue Southeast

See Similar Deals
MultiFamily
Sold
Sam Wayne
Matt Kemper
+ 1
Contact now

Summary

WASHINGTON
Asset Type:MultiFamily
Transaction Type:Sale

Bellefield Manor, a 44-unit apartment community located at 1830 108th Avenue Southeast in downtown Bellevue, Washington, has been sold for $16.1 million. The property, spanning 1.8 acres, was brokered by Cushman & Wakefield.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $16,100,000
  • Units: 44
  • Price Per Unit: $365,909
  • Market: Bellevue, WA

Cushman & Wakefield represented both the buyer, Veritas Investments, and the seller in this transaction. The deal was facilitated by brokers Dan Chhan, Matt Kemper, Sam Wayne, and Tim McKay.

Players

Tim McKay
16 deals$289.6M volume
BROKER

Dan Chhan
Cushman & Wakefield
16 deals$289.6M volume
BROKER

Sam Wayne
Cushman & Wakefield
9 deals$395.5M volume
BROKER

Matt Kemper
Cushman & Wakefield
16 deals$289.6M volume
BROKER

BUYER

Details

SOLD
IMAGE: Dan Chhan, Matt Kemper, Sam Wayne & Tim McKa DATE: 12/14/2023 ADDRESS: 1830 108th Avenue Southeast MARKET: Bellevue, WA ASSET TYPE: Multifamily ~ ACRES: 1.8 BUYER: Veritas Investments BROKERS: Dan Chhan, Matt Kemper, Sam Wayne & Tim McKay - Cushman & Wakefield SALE PRICE: $16,100,000 UNITS: 44 ~ PPU: $365,909 NOTE: Cushman & Wakefield has brokered the sale of Bellefield Manor, a 44-unit apartment community in downtown Bellevue, Washington, for $16.1 million.

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

$858,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$57,199.89
Cash-on-Cash Return-1.27%
Monthly Debt Service$76,322.21
Annual Debt Service$915,866.57