Updated Dec 21, 2023
Marcus & Millichap Brokers Timothy Ufkes & Rich Day Sell Bellingham Multifamily For $23M
3815 Elwood Avenue, Bellingham, Washington 98229, United States
$23,000,000
Units
79
Asset Type
MultiFamily
Closing
Oct 17, 2022
About this deal
AI
Located at 3815 Elwood Ave in Bellingham, Washington, this multifamily property was recently sold in a closed transaction. The property consists of 79 units, with each unit being sold at an average price of $291,139, resulting in a total sale price of $23,000,000. The property was listed and sold by Timothy Ufkes and Rich Day of Marcus & Millichap.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $23,000,000
- Units: 79
- Price Per Unit: $291,139
This successful transaction was facilitated by the expertise and representation of Timothy Ufkes and Rich Day from Marcus & Millichap. Their knowledge and experience in the Bellingham market contributed to the smooth execution of this multifamily property sale.
Players
Bellingham 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
0.69%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93