Champion Real Estate Company Acquires Seattle Student Housing For $7M
SOLD
$7,000,000
Washington
See Similar DealsOther
Sold 07/06/2022
SOLD
Champion Real Estate Company Acquires Seattle Student Housing For $7M
700 Northeast 45th Street, Seattle, Washington 98105, United States
See Similar DealsOther
Sold 07/06/2022
Summary
WASHINGTON
Asset Type:Other
Transaction Type:Sale
A student housing property located at 700 NE 45th St in Seattle, WA was recently sold for a total price of $7,000,000. The property consists of 110 units, with each unit having a price per unit (PPU) of $63,636.
Summary of transaction details
- Property Type: Student Housing
- Transaction Amount: $7,000,000
The buyer of the property was Champion Real Estate Company, represented by Garrett Champion. The sale was facilitated by Dylan Simon from Kidder Mathews.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$373,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$24,869.54
Cash-on-Cash Return-1.27%
Monthly Debt Service$33,183.57
Annual Debt Service$398,202.85
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