Cornelius Apartments In Seattle Sells For $19 Million With Simon Anderson Multifamily Team As Brokers
306 Blanchard Street
$19,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Aug 20, 2025
AI
The Cornelius Apartments, a historic 137-unit multifamily building located at 306 Blanchard Street in Seattle, WA, was sold for $19,000,000, equating to approximately $138,686 per unit. This property was built in 1925 and is situated in the Belltown neighborhood, close to Pike Place Market and various cultural attractions.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $19,000,000
- Units: 137
- Price Per Unit: $138,686
- Sale Date: 08/20/2025
- Market: Seattle, WA
The transaction involved representatives from Kidder Mathews, specifically Dylan Simon, Jerrid Anderson, Matt Laird, and JD Fuller, who managed the sale of the property. The Simon | Anderson Multifamily Team played a crucial role in this transaction, showcasing their expertise in the multifamily market.
Players
Seattle 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
0.83%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93