Updated Dec 4, 2024
Andrew Conru Purchases 27-Unit Multifamily In Seattle From Mack Real Estate Group For $10.2M
84 Union Street
$10,200,000
Units
27
Asset Type
MultiFamily
Closing
Jul 18, 2024
About this deal
AI
The property involved in this transaction is a multifamily asset located at 84 Union Street in Seattle, WA. The building, named Marketside Flats, consists of 27 units and was sold for $10,200,000, translating to a per-unit price of $377,778.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $10,200,000
- Units: 27
- Buyer: Andrew Conru
- Seller: Mack Real Estate Group
- Market: Seattle, WA
Andrew Conru, the buyer, is known for owning the nearby former Lusty Lady building and hinted at potentially operating Marketside Flats in conjunction with the Lusty Lady, though specific plans have not been disclosed. Mack Real Estate Group served as the seller in this transaction.
On the Map
$10,200,000
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
1.56%
Cash-on-Cash
-0.44%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93