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RJM Development Acquires Development Site At 18-20 Belknap Street In Arlington For $2.85M
SOLD
$2,851,000
Massachusetts
See Similar DealsDevelopment Site
Sold 08/28/2024
SOLD
RJM Development Acquires Development Site At 18-20 Belknap Street In Arlington For $2.85M
18 Belknap Street & 20 Belknap Street
See Similar DealsDevelopment Site
Sold 08/28/2024
Summary
MASSACHUSETTS
Asset Type:Development Site
Transaction Type:Sale
The property asset involved in the transaction is a development site located at 18-20 Belknap Street, Arlington, MA. RJM Development acquired this site for a price of $2,851,000. The planned development will consist of four townhome units, each featuring four bedrooms and 4.5 bathrooms, with living spaces ranging from 2,200 to 2,300 square feet.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $2,851,000
- Buyer: RJM Development
- Address: 18-20 Belknap Street
- Market: Arlington, MA
- Project Features: Four 4-bedroom, 4.5-bath units
- Living Space: 2,200-2,300 sq. ft. per unit
RJM Development is the key individual behind the acquisition, responsible for the development project that will enhance the site next to Spy Pond with the construction of the townhome units.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$152,053.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,129.02
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,515.19
Annual Debt Service$162,182.33
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