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600 7th Avenue

Seventh And James Apartments In Seattle's First Hill Neighborhood Sold For $26.9M
SOLDMultiFamily

Seventh And James Apartments In Seattle's First Hill Neighborhood Sold For $26.9M

600 7th Avenue

$26,900,000

Building Size

Asset Type

MultiFamily

Closing

Oct 19, 2023

AI

The mid-rise apartment building known as Seventh and James Apartments, located in Seattle's First Hill neighborhood, was recently sold for $26.9 million. The property was acquired by a large institutional owner several decades ago. Kidder Mathews, a brokerage firm, represented the seller in the transaction.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: $26,900,000
  • Address: 600 7th Avenue, Seattle, WA
  • Market: Seattle, WA
  • Brokers: Dylan Simon, JD Fuller, and Matt Laird - Kidder Mathews
  • Units: 96
  • Price per Unit (PPU): $280,208

Dylan Simon, JD Fuller, and Matt Laird, all representing Kidder Mathews, played crucial roles as brokers in facilitating the sale of Seventh and James Apartments. Their expertise in the Seattle real estate market contributed to the successful completion of the transaction.

Players

Dylan Simon

Kidder Mathews

Broker

$365.8M

vol

15 deals

Broker

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

0.59%

Cash-on-Cash

-0.17%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93