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7001 Old Redmond Road, Redm...

Updated Oct 28, 2024

Bay Area LLC Acquires Multifamily In Redmond, WA For $79M
SOLDMultiFamily

Bay Area LLC Acquires Multifamily In Redmond, WA For $79M

7001 Old Redmond Road, Redmond, Washington 98052, United States

$79,000,000

Units

192

Asset Type

MultiFamily

Closing

Oct 2, 2022

About this deal

AI

The multifamily property located at 7001 Old Redmond Rd in Redmond, WA has been sold in a closed transaction. The property consists of 192 units, with a price per unit (PPU) of $411,458. The sale took place on October 3, 2022, with Bay Area LLC acquiring the property from Gerson Bakar. The total sale price for the transaction was $79,000,000.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $79,000,000
  • Address: 7001 Old Redmond Rd
  • Market: Redmond, WA
  • Buyer: Bay Area LLC
  • Seller: Gerson Bakar
  • Units: 192
  • Price Per Unit: $411,458

This transaction involved the buyer Bay Area LLC and the seller Gerson Bakar. Both parties came to an agreement, resulting in a successful sale of the multifamily property. The property's location in Redmond, WA, further adds to its appeal and potential investment value. The negotiation process between the buyer and seller culminated in a sale price of $79,000,000, reflecting the market demand and value of the property.

Players

Redmond MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $411.5K per unit across 192 units on a published $79M (2022).

Visit Gerson Bakar to view all their deals.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.20%

Cash-on-Cash

-0.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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