Arrowpoint Properties Acquires Multifamily Property In Worcester, MA For $26.7M
SOLD
$26,700,000
Massachusetts
See Similar DealsMultiFamily
Sold 09/16/2022
SOLD
Arrowpoint Properties Acquires Multifamily Property In Worcester, MA For $26.7M
13 Brookside Avenue, Worcester, Massachusetts 01602, United States
See Similar DealsMultiFamily
Sold 09/16/2022
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 13 Brookside Ave in Worcester, MA has been sold for a total price of $26,700,000. The property consists of 120 units, resulting in a per unit price of $222,500.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $26,700,000
- Units: 120
- Price per Unit: $222,500
- Buyer: Arrowpoint Properties - David Lamattina & Jay Goldberg
- Sale Date: 09/16/2022
- Market: Worcester, MA
The buyer of the property is Arrowpoint Properties, represented by David Lamattina and Jay Goldberg. The transaction was completed on 09/16/2022.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,423,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$94,859.47
Cash-on-Cash Return-1.27%
Monthly Debt Service$126,571.62
Annual Debt Service$1,518,859.46
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