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

Property Image
SOLD
$19,000,000
Matt Laird
Jerrid Anderson
Dylan Simon
+ 1

Washington

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MultiFamily
Sold 08/20/2025
the dealplayerscompscontact
Property Image
SOLD

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

306 Blanchard Street

See Similar Deals
MultiFamily
Sold 08/20/2025
Matt Laird
Jerrid Anderson
Dylan Simon
+ 1
the dealplayerscompscontact
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Summary

WASHINGTON
Asset Type:MultiFamily
Transaction Type:Sale

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
Dylan Simon
15 deals$365.8M volume
BROKER
Matt Laird
Kidder Mathews
Matt Laird
7 deals$229.5M volume
BROKER
Jerrid Anderson
Kidder Mathews
Jerrid Anderson
14 deals$350.8M volume
BROKER
JD Fuller
Kidder Mathews
JD Fuller
8 deals$177.2M volume(206) 665-3272
BROKER
Kidder Mathews
Kidder Mathews
BROKERAGE

Details

SOLD
IMAGE: 08/20/2025 ADDRESS: 306 Blanchard Street MARKET: Seattle, WA ASSET TYPE: MultiFamily BROKERS: Dylan Simon, Jerrid Anderson, Matt Laird & JD Fuller - Kidder Mathews SALE PRICE: $19,000,000 UNITS: 137 ~ PPU: $138,686 NOTE: Cornelius Apartments in Seattle’s Belltown neighborhood sold for $19M ($139/unit), a 137-unit historic building built in 1925 that once hosted Elvis during the 1962 World’s Fair. The property, near Pike Place Market and cultural sites, was sold by the Simon | Anderson Multifamily Team at Kidder Mathews.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,013,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$67,502.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$90,069.69
Annual Debt Service$1,080,836.32