Updated Oct 28, 2024
11 Capital LLC Acquires Multifamily Property In Fife, WA From OpenPath Investments, LLC - Marcus & Millichap
2524 62nd Avenue East, Fife, Washington 98424, United States
$32,000,000
Units
124
Asset Type
MultiFamily
Closing
Sep 13, 2022
About this deal
AI
The multifamily property located at 2524 62nd Ave E in Fife, WA has been sold in a recent transaction. The property consists of 124 units and was sold for a total price of $32,000,000, resulting in a per unit price of $258,065. The sale was facilitated by brokers Philip Assouad, Giovanni Napoli, Ryan Harmon, and Nicholas Ruggiero from Marcus & Millichap.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $32,000,000
- Units: 124
- Price Per Unit: $258,065
- Address: 2524 62nd Ave E, Fife, WA
11 Capital LLC acquired the property from OpenPath Investments, LLC in the transaction. The involvement of brokers from Marcus & Millichap indicates their role in representing the buyer and seller. The deal highlights the collaboration between these key individuals and companies in the real estate industry.
Players
Fife 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
0.50%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93