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

Property Image
SOLD
$3,100,000
Tim McKay
Matt Kemper
Dan Chhan
+ 2

Washington

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MultiFamily
Sold
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Property Image
SOLD

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

8541 Phinney Avenue North

See Similar Deals
MultiFamily
Sold
Tim McKay
Matt Kemper
Dan Chhan
+ 2
the dealplayerscompscontact
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Summary

WASHINGTON
Asset Type:MultiFamily
Transaction Type:Sale

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
Tim McKay
16 deals$289.6M volume
BROKER
Dan Chhan
Cushman & Wakefield
Dan Chhan
16 deals$289.6M volume
BROKER
Matt Kemper
Cushman & Wakefield
Matt Kemper
16 deals$289.6M volume
BROKER
Jacob Odegard
Cushman & Wakefield
Jacob Odegard
9 deals$176.4M volume(253) 486-6725
BROKER
Dylan Roeter
Cushman & Wakefield
Dylan Roeter
8 deals$171.9M volume(425) 445-0071
BROKER

Details

SOLD
IMAGE: 04/24/2024 ADDRESS: 8541 Phinney Avenue North MARKET: Seattle, WA ASSET TYPE: Multifamily BROKERS: Dan Chhan, Dylan Roeter, Jacob Odegard, Matt Kemper & Tim McKay - Cushman & Wakefield SALE PRICE: $3,100,000 UNITS: 12 ~ PPU: $258,333 NOTE: Cushman & Wakefield facilitated the sale of James Bon Apartments, a multifamily building in Seattle's Phinney Ridge neighborhood, to a local apartment operator for $3.1 million, averaging $258,000 per unit.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$165,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$11,013.66
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,695.58
Annual Debt Service$176,346.98