Updated Dec 4, 2024
Yat-Pang Au Of Veritas Investments Buys Multifamily Buildings In Seattle For $18M
305 Bellevue Ave. E & 311 Bellevue Avenue East
$18,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Feb 27, 2024
About this deal
AI
The multifamily property located at 305 & 311 Bellevue Avenue East in Seattle, WA was recently sold for $18,000,000. The transaction involved Veritas Investments, represented by Yat-Pang Au, purchasing the two residential buildings from Mayfield Investment Company, represented by John DesCamp.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $18,000,000
- Buyer: Yat-Pang Au - Veritas Investments
- Seller: John DesCamp - Mayfield Investment Company
- Market: Seattle, WA
- Address: 305 & 311 Bellevue Avenue East
An affiliate of Veritas Investments made this purchase amidst financial struggles related to its California properties, acquiring the two residential buildings in Capitol Hill. The deal was finalized successfully with the sellers being the Mayfield Investment Company.
On the Map
$18,000,000
MultiFamily
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Players
Seattle MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.88%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93