Updated Dec 4, 2024
BJPO LLC Acquires Port Orchard Multifamily Portfolio For $18.5M
Port Orch
$18,500,000
Units
92
Asset Type
MultiFamily
Closing
May 10, 2024
About this deal
AI
The two-property portfolio in Port Orchard, Washington, consisting of 92 units, was successfully sold for $18.5 million. The transaction was brokered by the NorthMarq's Seattle Multifamily Investment Sales team.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $18,500,000
- Units: 92
- Price Per Unit: $201,087
- Market: Port Orchard, WA
- Buyer: BJPO LLC
- Seller: Port Orchard Portfolio LLC
- Brokers: Joe Kinkopf, Steve Fischer & Tyler Smith - NorthMarq
The sale involved BJPO LLC as the buyer and Port Orchard Portfolio LLC as the seller. The brokerage for the deal was handled by the team of Joe Kinkopf, Steve Fischer, and Tyler Smith from NorthMarq, showcasing a successful transaction in the Port Orchard market.
Players
Port Orchard 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
0.86%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93