Updated Apr 1, 2026
FLT Exeter House LLC Acquires 120-Unit Multifamily Apartment In Seattle For $25M
720 Seneca Street
$25,000,000
$152/SF
Building Size
164,000 SF
Asset Type
MultiFamily
Closing
Mar 30, 2026
About this deal
AI
The Exeter is a multifamily asset located at 720 Seneca Street in Seattle, WA. The property encompasses approximately 164,000 square feet and consists of 120 units. The sale was completed for a total price of $25,000,000, translating to a price per square foot of approximately $152.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $25,000,000
- Sale Date: 03/30/2026
- Buyer: FLT Exeter House LLC
- Address: 720 Seneca Street
- Market: Seattle, WA
- Square Footage: 164,000
- Price Per Square Foot: $152
FLT Exeter House LLC, a California-based property manager, has acquired The Exeter from the previous owner who purchased it for $33.2M in 2016. This transaction marks a significant shift in ownership and reflects a notable market movement in the Seattle multifamily landscape.
On the Map
$25,000,000
$152/SF
MultiFamily
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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
0.63%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93