Updated Dec 4, 2024
Terrene Homes Sells Alder Walk Multifamily Community In Puyallup For $21.25M
7722 176th Street East
$21,250,000
Units
78
Asset Type
MultiFamily
Closing
Jul 15, 2024
About this deal
AI
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.
On the Map
$21,250,000
MultiFamily
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Players
Puyallup 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
0.75%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93