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Stephen Dixon & Joey Cheung Broker Melrose Multifamily Sale For $1.05M
SOLD
$1,050,000
Massachusetts
See Similar DealsMultiFamily3,741 SF
Sold 03/25/2024
SOLD
Stephen Dixon & Joey Cheung Broker Melrose Multifamily Sale For $1.05M
14-16 Emerson Place
See Similar DealsMultiFamily3,741 SF
Sold 03/25/2024
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$280
Total Square Footage:3,741 SF
Transaction Type:Sale
A rare investment opportunity in Melrose, MA was sold on March 25, 2024, for $1,050,000. The property is a multifamily 3-family home located at 14-16 Emerson Place, offering 7 bedrooms, 3 bathrooms, and spanning 3,741 square feet. The price per unit stands at $350,000, with a price per square foot of $281.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,050,000
- Units: 3
- Square Footage: 3,741
- Price Per Unit: $350,000
- Price Per Square Foot: $281
- Address: 14-16 Emerson Place
- Market: Melrose, MA
- Buyer's Rep: Stephen Dixon - Cameron Real Estate Group
- Seller's Rep: Joey Cheung - Thread Real Estate
Stephen Dixon from Cameron Real Estate Group represented the buyer in this transaction, while Joey Cheung from Thread Real Estate represented the seller.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$55,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$3,730.43
Cash-on-Cash Return-1.27%
Monthly Debt Service$4,977.54
Annual Debt Service$59,730.43
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