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Berkadia Sells 40-Unit Multifamily Community In Kennewick, Washington For $5.85M

Property Image
SOLD
$5,850,000
Steven Chattin
Mitchell Belcher
+ 3

Washington

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MultiFamily
Sold 10/09/2023
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Property Image
SOLD

Berkadia Sells 40-Unit Multifamily Community In Kennewick, Washington For $5.85M

720 North Arthur Street

See Similar Deals
MultiFamily
Sold 10/09/2023
Steven Chattin
Mitchell Belcher
+ 3
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Summary

WASHINGTON
Asset Type:MultiFamily
Transaction Type:Sale

720 North Arthur Street, a 40-unit garden-style multifamily community in Kennewick, Washington, has been sold for a total price of $5,850,000. The property, consisting entirely of three-bedroom apartments, has an average size of 1,200 square feet. It was sold at a per-unit price of $146,250 or $122 per square foot.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $5,850,000
  • Units: 40
  • Price per Unit: $146,250

Berkadia brokers Beau Krueger, Brandon Lawler, Chad Blenz, Jay Timpani, Mitchell Belcher, and Steven Chattin facilitated the sale of 720 North Arthur Street in Kennewick, WA.

Players

Brandon Lawler
4 deals$65.9M volume
BROKER

Steven Chattin
Berkadia
1 deal$5.9M volume(206) 521-7224
BROKER

Mitchell Belcher
Berkadia
1 deal$5.9M volume(206) 801-3072
BROKER

Jay Timpani
Berkadia
3 deals$34.9M volume(206) 801-3067
BROKER

Chad Blenz
Berkadia
3 deals$26.2M volume(206) 801-3075
BROKER

Beau Krueger
Berkadia
1 deal$5.9M volume(206) 580-2552
BROKER

Details

SOLD
IMAGE: Beau Krueger, Brandon Lawler, Chad Blenz, Jay Timpani, Mitchell Belcher & Steven Chattin DATE: 10/09/2023 ADDRESS: 720 North Arthur Street MARKET: Kennewick, WA ASSET TYPE: Multifamily BROKERS: Beau Krueger, Brandon Lawler, Chad Blenz, Jay Timpani, Mitchell Belcher & Steven Chattin - Berkadia SALE PRICE: $5,850,000 UNITS: 40 ~ PPU: $146,250 NOTE: Berkadia has completed the sale of 720 Arthur, a 40-unit garden-style multifamily community in Kennewick, Washington. The property was sold at a per-unit price of $146,250 or $122 per square foot and consists entirely of three-bedroom apartments with an average size of 1,200 square feet.

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

$312,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$20,783.81
Cash-on-Cash Return-1.27%
Monthly Debt Service$27,731.98
Annual Debt Service$332,783.81