EVO Real Estate Sells Multifamily Property In Chelsea, MA For $1.1M
SOLD
$1,099,800
Massachusetts
See Similar Deals2,664 SF
Sold 07/20/2022
SOLD
EVO Real Estate Sells Multifamily Property In Chelsea, MA For $1.1M
50 Cottage Street
See Similar Deals2,664 SF
Sold 07/20/2022
Summary
MASSACHUSETTS
Price Per Square Foot:$412
Total Square Footage:2,664 SF
Transaction Type:Sale
The multifamily property located at 50 Cottage St in Chelsea, MA has been sold. The sale price for this transaction was $1,099,800. The property spans a total area of 2,664 square feet, resulting in a price per square foot of $413.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $1,099,800
- Address: 50 Cottage St, Chelsea, MA
- Market: Chelsea, MA
The sale was facilitated by Jonathan DaSilva from EVO Real Estate. He served as the broker for this transaction.
This property consists of two luxury residences. Unit 1 offers 3 bedrooms and 3 bathrooms within its 1,558 square feet of space. It achieved a record sale in the neighborhood, selling for $649,900. Unit 2, on the other hand, features 2 bedrooms and 2 bathrooms across its 1,106 square feet area and was sold at $449,900.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$58,656.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$3,907.36
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,213.61
Annual Debt Service$62,563.36
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