Irwin Rappaport's LLC Purchases Westview Terrace Apartments In Tacoma For $9.86M With Berkadia
2205 South 74th Street
$9,860,000
Building Size
—
Asset Type
MultiFamily
Closing
Dec 9, 2024
AI
The Westview Terrace apartments, a multifamily asset, sold for $9.86 million located at 2205 South 74th Street in Tacoma, WA. The transaction involved a 47-unit complex, with a per-unit price of $209,787.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $9,860,000
- Address: 2205 South 74th Street
- Market: Tacoma, WA
- Units: 47
- Price Per Unit: $209,787
The deal was facilitated by Chad Blenz from Berkadia, representing the investor. The purchaser is an LLC affiliated with Irwin Rappaport, marking the second multi-million dollar sale in the area this fall by an LA-based investor.
Players
Tacoma MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.61%
Cash-on-Cash
-0.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93