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8541 Phinney Avenue North

Cushman & Wakefield Facilitates Sale Of James Bon Apartments In Seattle For $3.1M
SOLDMultiFamily

Cushman & Wakefield Facilitates Sale Of James Bon Apartments In Seattle For $3.1M

8541 Phinney Avenue North

$3,100,000

Building Size

Asset Type

MultiFamily

Closing

Apr 24, 2024

AI

The James Bon Apartments, a multifamily building located at 8541 Phinney Avenue North in Seattle, WA, was sold for $3.1 million. The property consists of 12 units, equating to an average price of $258,333 per unit.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $3,100,000
  • Units: 12
  • Price Per Unit: $258,333
  • Address: 8541 Phinney Avenue North, Seattle, WA
  • Market: Seattle, WA

Cushman & Wakefield played a crucial role in facilitating the sale of the James Bon Apartments. The transaction was managed by brokers Dan Chhan, Dylan Roeter, Jacob Odegard, Matt Kemper, and Tim McKay from Cushman & Wakefield, who successfully closed the deal with a local apartment operator. The sale exemplifies the expertise and dedication of the brokering team in orchestrating successful property transactions in Seattle's real estate market.

Players

Tim McKay

Cushman & Wakefield

Broker

$289.6M

vol

16 deals

Broker

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

5.12%

Cash-on-Cash

-1.46%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93