Micozzi Management Acquires Multifamily Property In Ayer, MA For $12.1M
SOLD
$12,105,000
Massachusetts
See Similar DealsMultiFamily57,152 SF
Sold 02/03/2020
SOLD
Micozzi Management Acquires Multifamily Property In Ayer, MA For $12.1M
123 Littleton Road, Ayer, MA, USA
See Similar DealsMultiFamily57,152 SF
Sold 02/03/2020
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$211
Total Square Footage:57,152 SF
Transaction Type:Sale
Located in Ayer, MA, this multifamily property at 123 Littleton Road has recently been sold. The sale was facilitated by Carter Realty, with Micozzi Management as the buyer. United Multi Family, represented by Kurt Cawley, acted as the broker in this transaction. The property features 76 units, with a sale price of $12,105,000, equating to approximately $159,276 per unit.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $12,105,000
- Address: 123 Littleton Road, Ayer, MA
- Market: Ayer, MA
- Seller: Carter Realty
- Buyer: Micozzi Management
- Broker: Kurt Cawley - United Multi Family
The purchase of this multifamily property is a significant transaction within the Ayer market. With 76 units, the property presents a lucrative investment opportunity. Micozzi Management saw the potential in this asset and, with the assistance of Kurt Cawley from United Multi Family, successfully acquired it from Carter Realty.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$645,600.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$43,006.51
Cash-on-Cash Return-1.27%
Monthly Debt Service$57,383.88
Annual Debt Service$688,606.51
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