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Terrene Homes Sells Alder Walk Multifamily Community In Puyallup For $21.25M
SOLD
Washington
See Similar DealsMultiFamily
Sold 07/15/2024
SOLD
Terrene Homes Sells Alder Walk Multifamily Community In Puyallup For $21.25M
7722 176th Street East
See Similar DealsMultiFamily
Sold 07/15/2024
Summary
WASHINGTON
Asset Type:MultiFamily
Transaction Type:Sale
Alder Walk, located at 7722 176th Street East in Puyallup, Washington, is a multifamily asset comprising 78 units. Recently sold for $21.25 million, the property has a price per unit of $272,436. It is notable that the community was newly constructed and completed in 2022.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $21,250,000
- Units: 78
- Price Per Unit: $272,436
- Seller: Terrene Homes
- Brokers: Dylan Simon, JD Fuller & Jerrid Anderson - Kidder Mathews
The Simon Anderson Team at Kidder Mathews represented the seller, Terrene Homes, in this transaction and also sourced the buyer for the property.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,133,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$75,496.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$100,735.84
Annual Debt Service$1,208,830.09
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