Updated Dec 4, 2024
Stephen Dixon & Joey Cheung Broker Melrose Multifamily Sale For $1.05M
14-16 Emerson Place
$1,050,000
$280/SF
Building Size
3,741 SF
Asset Type
MultiFamily
Closing
Mar 25, 2024
About this deal
AI
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.
On the Map
$1,050,000
$280/SF
MultiFamily
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Melrose 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
15.11%
Cash-on-Cash
-4.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93