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Green Leaf Capital Partners Acquires Seattle Multifamily For $35M

Property Image
SOLD
$35,000,000
Philip Assouad
Nicholas (Nick) Ruggiero
+ 1

Washington

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MultiFamily
Sold 05/18/2023
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Property Image
SOLD

Green Leaf Capital Partners Acquires Seattle Multifamily For $35M

4689 Martin Luther King Jr Way South Seattle, Washington 98108, USA

See Similar Deals
MultiFamily
Sold 05/18/2023
Philip Assouad
Nicholas (Nick) Ruggiero
+ 1
Contact now

Summary

WASHINGTON
Asset Type:MultiFamily
Transaction Type:Sale

The multifamily property located at 4689 Martin Luther King Jr Way South in Seattle, WA has been sold for a total of $35,000,000. The property consists of 96 units, resulting in a price per unit of $364,583.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $35,000,000
  • Address: 4689 Martin Luther King Jr Way South, Seattle, WA
  • Number of Units: 96
  • Price per Unit: $364,583

The buyer of the property is Green Leaf Capital Partners, while the seller is BDR Holdings, LLC. The transaction was facilitated by the brokers Philip Assouad, Ryan Harmon, Nicholas Ruggiero, and Anthony Palladino from Institutional Property Advisors.

Players

Philip Assouad
22 deals$952.3M volume
BROKER

Ryan Harmon
Institutional Property Advisors
17 deals$718.9M volume
BROKER

Nicholas (Nick) Ruggiero
Institutional Property Advisors
22 deals$963.4M volume
BROKER

Anthony Palladino
Institutional Property Advisors
14 deals$685.9M volume(206) 826-5700
BROKER

BUYER

Details

SOLD
IMAGE: Ryan Harmon, Nicholas Ruggiero, Philip Assouad & Anthony Palladino DATE: 05/18/2023 ADDRESS: 4689 Martin Luther King Jr Way South MARKET: Seattle, WA ASSET TYPE: Multifamily BUYER: Green Leaf Capital Partners SELLER: BDR Holdings, LLC BROKERS: Philip Assouad, Ryan Harmon, Nicholas Ruggiero & Anthony Palladino - Institutional Property Advisors SALE PRICE: $35,000,000 UNITS: 96 ~ PPU: $364,583

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

$1,866,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$124,347.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$165,917.86
Annual Debt Service$1,991,014.27