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
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.
Players
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