Updated Oct 28, 2024
Christian Smith & Thomas Moore Acquire Multifamily Property In Newburyport, MA For $3.2M
11 Charter Street, Newburyport, Massachusetts 01950, United States
$3,200,000
$764/SF
Building Size
4,184 SF
Asset Type
MultiFamily
Closing
Apr 18, 2022
About this deal
AI
A multifamily property located at 11 Charter St in Newburyport, MA has been sold for a total of $3,200,000. The property consists of 15 units, with a price per unit (PPU) of $213,333. The total square footage of the property is 4,184, resulting in a price per square foot (PPSF) of $765.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,200,000
- Address: 11 Charter St, Newburyport, MA
- Market: Newburyport, MA
- Buyer: Christian Smith & Thomas Moore
- Seller: Charter St. LLC
- Broker: Nicholas Zolotas - Herrick Lutts Realty Partners
- Units: 15
- PPU: $213,333
- SF: 4,184
- PPSF: $765
The sale of the property was facilitated by Nicholas Zolotas from Herrick Lutts Realty Partners. Christian Smith and Thomas Moore purchased the property from Charter St. LLC.
Newburyport 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
4.96%
Cash-on-Cash
-1.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93