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306 Blanchard Street

Cornelius Apartments In Seattle Sells For $19 Million With Simon Anderson Multifamily Team As Brokers
SOLDMultiFamily

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

Dylan Simon

Kidder Mathews

Broker

$365.8M

vol

15 deals

Broker
Kidder Mathews
Kidder MathewsBrokerage

Seattle 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

0.83%

Cash-on-Cash

-0.24%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93