RISE Properties Trust & Swig Company Acquires Multifamily Property For $65.5M In Seattle, WA
SOLD
$65,500,000
Washington
See Similar DealsMultiFamily
Sold 08/18/2022
SOLD
RISE Properties Trust & Swig Company Acquires Multifamily Property For $65.5M In Seattle, WA
2709 17th Avenue South, Seattle, Washington 98144, United States
See Similar DealsMultiFamily
Sold 08/18/2022
Summary
WASHINGTON
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 2709 17th Ave S in Seattle, WA has been sold for a price of $65,500,000. The property consists of 139 units, with a price per unit of $471,223. It was a closed transaction between the buyers, RISE Properties Trust & Swig Company, and the seller, Stephanie Ting.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $65,500,000
- Units: 139
- Price Per Unit: $471,223
The buyers were represented by the Simon & Anderson team from Kidder Matthew brokerage. This deal marks a significant transaction in the multifamily market in Seattle, WA.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,493,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$232,707.68
Cash-on-Cash Return-1.27%
Monthly Debt Service$310,503.42
Annual Debt Service$3,726,041.00
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