AIMCO Sells Seattle Multifamily Property For $69M With Broker Reps Philip Assouad, Giovanni Napoli, Ryan Harmon & Nicholas Ruggiero - Institutional Property Advisors
SOLD
$69,000,000
+ 1
Washington
See Similar DealsMultiFamily
Sold 08/16/2022
SOLD
AIMCO Sells Seattle Multifamily Property For $69M With Broker Reps Philip Assouad, Giovanni Napoli, Ryan Harmon & Nicholas Ruggiero - Institutional Property Advisors
2900 1st Avenue, Seattle, Washington 98121, United States
See Similar DealsMultiFamily
Sold 08/16/2022
+ 1
Summary
WASHINGTON
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 2900 1st Avenue in Seattle, WA, has been sold in a closed transaction. The property consists of 135 units, making the per unit price $511,111. The sale price for the property was $69,000,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $69,000,000
- Number of Units: 135
- Price Per Unit: $511,111
The sale of the property was facilitated by Philip Assouad, Giovanni Napoli, Ryan Harmon, and Nicholas Ruggiero from Institutional Property Advisors, who represented the seller, AIMCO. These brokers played a crucial role in closing the deal, ensuring a successful transaction for all parties involved.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,679,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$245,142.43
Cash-on-Cash Return-1.27%
Monthly Debt Service$327,095.20
Annual Debt Service$3,925,142.43
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