Arrowpoint Properties Acquires Multifamily Property In Groveland, MA For $10.3M
SOLD
$10,300,000
+ 2
Massachusetts
See Similar DealsMultiFamily53,620 SF
Sold 10/15/2021
SOLD
Arrowpoint Properties Acquires Multifamily Property In Groveland, MA For $10.3M
1 Manor Dr, Groveland, Massachusetts, USA
See Similar DealsMultiFamily53,620 SF
Sold 10/15/2021
+ 2
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$192
Total Square Footage:53,620 SF
Transaction Type:Sale
Located at 1 Manor Dr in Groveland, MA, this multifamily property spans over 14.4 acres. The property was sold on October 15, 2021.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $10,300,000
- Address: 1 Manor Dr, Groveland, MA
- Market: Groveland, MA
- Acres: 14.4
- Price Per Acre: $715,278
The property consists of 60 units, with each unit being sold at an average price of $171,667.
The buyer, Arrowpoint Properties, was represented by David Lamattina and Jay Goldberg. The deal was facilitated by brokers Spencer Norton, Dennis Kelleher, and John Pentore from Horvath & Tremblay.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$549,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$36,593.74
Cash-on-Cash Return-1.27%
Monthly Debt Service$48,827.25
Annual Debt Service$585,927.06
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