Updated Dec 4, 2024
Norwich Realty Associates Sells Arlington Multifamily Property For $1.1M
13-15 Fairmont Street
$1,113,000
$424/SF
Building Size
2,621 SF
Asset Type
MultiFamily
Closing
Jun 12, 2024
About this deal
AI
A multifamily property located at 13-15 Fairmont Street in Arlington, MA was sold for $1.1 million. The property consists of three units with a total of 2,621 square feet. It offers potential for remodeling or investment and includes six bedrooms and three baths. The sale price per unit was $371,000, and the price per square foot was $425.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,113,000
- Units: 3
- Square Footage: 2,621
- Market: Arlington, MA
The sale of the 3-family property at 13-15 Fairmont Street was facilitated by Anthony Zafferano from Norwich Realty Associates. The property includes units occupied by tenants-at-will and requires upgrades to maximize its rental value.
Players
Arlington 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
14.25%
Cash-on-Cash
-4.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93